MIRA
INFORM REPORT
|
Report Date : |
19.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
MKJ TRADEX LIMITED |
|
|
|
|
Formerly Known
As : |
MKJ TRADEX PRIVATE LIMITED (w.e.f. 07.01.2002) ICON MARKETING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Sagar Estate, 3rd Floor, Unite No.1, 2 Clive Ghat Street,
PS Hare Street, Kolkata – 700001, West Bengal |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
13.01.1995 |
|
|
|
|
Com. Reg. No.: |
21-067394 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 37.202
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51909WB1995PLC067394 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALM04192G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCM5953G |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader and Exporter of Stainless Steel Industrial Products and also trading
in Ferrous and Non-Ferrous Alloy, Stainless Steel Scrap and Refractories |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1507000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of Kolkata based Keventer group. It is an established company having satisfactory track record. Trade relations are reported to be fair. Business is active. Payment
terms are reported to be usually 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.
ECGC Country Risk Classification List – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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
State-run banks hired nearly
300000 personnel including more than 94000 officers in the last four years,
according to the Indian Banks Association. A study by trade lobby Assocham in
September 2013 indicated that banks would need 800000 people in the next six
years. It estimated that state-run lenders alone would hire 50000 people in
2013/14.
The Competition Commission of
India plans to issue final orders within a broad time-frame of one year in
matters where it decides to carry out detailed investigations. The number of
complaints received by the watchdog which keeps tabs on unfair trade practices
in the marketplace.
The government has detected
custom tax evasion totaling around Rs 37920 mn in 14 states until December.
Maharashtra topped the list of Rs 14190 mn followed by Andhra Pradesh at Rs
8140 mn, Gujarat Rs 5240 mn, Karnataka Rs 1670 mn and Tamilnadu Rs 1610 mn.
Connaught Place in New Delhi
slipped four notches to become the world’s eighth most expensive office
locations. London’s West End is the world’s most expensive office market.
There are 4.072 mn number of
high value spenders under the scanner of the income tax department. The income
tax department has information that they have made cash deposits announcing to
Rs 1 mn or more in their savings bank accounts in the current financial year.
It plans to check potential evasion before the closing of the financial year on
March 31.
Estimated pharmaceutical sales
in the country for 2016 is $ 27 bn. It is 14.4 per cent higher than a year ago.
The life sciences and health care industry is up against challenges such as
quality management, says a recent Deloitte report.
The gross non-performing assets
of listed banks rose 35.2 % to Rs 2.43 lakh crore during the first three months
of the financial year. In absolute terms, the 40 listed banks added Rs 3386
crore to their gross NPAs in nine months with the State Bank of India leading
with the State Bank of India leading with an accretion of Rs 16610 crore.
The inflow of smuggled gold
doubled in 2013 following restrictions to curb the supply from official
channels to contain the current account deficit. China surpassed India in the
demand for gold for the first time in 2013 due to liberalization of gold
trading norms by its local governments.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating : BBB- |
|
Rating Explanation |
Have moderate degree of safety and carry
moderate credit risk. |
|
Date |
21.08.2013 |
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
31-03-2012.
INFORMATION DENIED
MANAGEMENT NON CO-OPERATIVE (91-33-22304571)
LOCATIONS
|
Registered Office : |
Sagar Estate, 3rd Floor, Unite No.1, 2 Clive Ghat Street,
PS Hare Street, Kolkata – 700001, West Bengal, India |
|
Tel. No.: |
91-33-22304571/22304572 |
|
Fax No.: |
91-33-22487669 |
|
E-Mail : |
|
|
|
|
|
Branch Office : |
Room No. 77, 7th Floor, Bajaj Bhawan, Near Inox Theatre,
Nariman Point, Mumbai – 400021, Maharashtra, India |
|
Tel. No.: |
91-22-22885382/ 22885381/ 22885383 |
|
Fax No.: |
91-22-22814144 |
|
E-Mail : |
DIRECTORS
As on 01.08.2013
|
Name : |
Mr. Mahendra Kumar Jalan |
|
Designation : |
Chairman cum Managing director |
|
Address : |
15 Belvedere Road, Kolkata – 700027, West Bengal, India |
|
Date of Birth/Age : |
08.03.1948 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
30.05.2001 |
|
PAN No.: |
AEPPJ1728K |
|
Voter ID No.: |
WB/23/148/222700 |
|
DIN No.: |
00598710 |
|
|
|
|
Name : |
Mr. Ratan Lal Sethia |
|
Designation : |
Director |
|
Address : |
37A, Garcha Road, Kolkata – 700019, West Bengal, India |
|
Date of Birth/Age : |
01.06.1950 |
|
Qualification : |
FCA |
|
Date of Appointment : |
25.01.1995 |
|
PAN No.: |
ALKPS1009C |
|
Voter ID No.: |
WB/23/152/000140 |
|
DIN No.: |
00123495 |
|
|
|
|
Name : |
Mr. Shashi Prabha Jalan |
|
Designation : |
Director |
|
Address : |
15 Belvedere Road, Kolkata – 700027, West Bengal, India |
|
Date of Birth/Age : |
20.10.1949 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
26.03.2002 |
|
PAN No.: |
AEPPJ1729J |
|
Voter ID No.: |
WB/23/148/222562 |
|
DIN No.: |
00598758 |
|
|
|
|
Name : |
Mr. Mayank Jalan |
|
Designation : |
Director |
|
Address : |
15 Belvedere Road, Kolkata – 700027, West Bengal, India |
|
Date of Birth/Age : |
15.09.1981 |
|
Qualification : |
Mechanical
engineering with business finance |
|
Date of Appointment : |
20.08.2003 |
|
PAN No.: |
AEUPJ1360E |
|
DIN No.: |
00598842 |
|
|
|
|
Name : |
Mr. Anil Kumar Jalan |
|
Designation : |
Director |
|
Address : |
B-1, Flat – 14, 2nd Floor, 342, Grant Road, Mumbai –
400007, Maharashtra, India |
|
Date of Birth/Age : |
17.06.1959 |
|
Qualification : |
LLB |
|
Date of Appointment : |
26.03.2002 |
|
PAN No.: |
ADQPJ2461H |
|
Voter ID No.: |
WB/23/143/153110 |
|
DIN No.: |
00631094 |
KEY EXECUTIVES
|
Name : |
Mr. Shyam Sunder Singhania |
|
Designation : |
Secretary |
|
Address : |
862 Jessore Road, Kolkata – 700055, West Bengal, India |
|
Date of Birth/Age : |
31.07.1970 |
|
Date of Appointment : |
25.06.2008 |
|
PAN No.: |
AJYPS4206P |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 01.08.2013
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Mahendra Kumar Jalan |
50100 |
1.35 |
|
Mantu Housing Projects Limited, India |
300000 |
8.06 |
|
The Right Address Limited, India |
320000 |
8.60 |
|
MKJ Enterprises Limited, India |
1320000 |
35.48 |
|
Twenty First Century Securities Limited, India |
140025 |
3.76 |
|
Madanlal Limited, India |
140000 |
3.76 |
|
Shashi Prabha Jalan |
50075 |
1.35 |
|
Mahendra Kumar Jalan and Others (HUF) |
50000 |
1.34 |
|
Ishan Housing Projects Limited, India, India |
1250000 |
33.60 |
|
Sungrace Merchandise Private Limited, India |
100000 |
2.69 |
|
|
|
|
|
Total |
3720200 |
99.99 |
As on 01.08.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
96.00 |
|
Directors or relatives of Directors |
4.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Exporter of Stainless Steel Industrial Products and also trading
in Ferrous and Non-Ferrous Alloy, Stainless Steel Scrap and Refractories |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
Ø Royal Bank Of
Scotland, 25, Brabourne, Road, Kolkata – 602939, West Bengal, India Ø Oriental Bank Of
Commerce, Gariahat Branch, 23c, A.C. Avenue, KCI Plaza, 1st Floor, Gariahat,
Kolkata - 700019, West Bengal, India Ø Union Bank of
India, India Exchange Place Branch, 15, India Exchange Place, Kolkata -
700001, West Bengal, India Ø UCO Bank (Lead
Bank), MID Corporate Branch, 2, India Exchange Place, Kolkata - 700001, West
Bengal, India Ø Indusind Bank
Limited, Kolkata Branch, 3A, Upper Wood Street, Kolkata - 700017, West
Bengal, India |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S.K. Agarwal and Company Chartered Accountants |
|
Address : |
4A, Council House Street, Kolkata – 700001, West Bengal, India |
|
PAN
No. : |
AATFS5845S |
|
|
|
|
Associates : |
¨ MKJ Enterprises Limited
CIN No. :
L51909WB1982PLC035468 ¨ Madanlal Limited CIN No. :
L51909WB1983PLC036288 ¨ Karan Housing
Projects Limited CIN No. : U70101WB1993PTC059673 ¨ Keventer Agro
Limited CIN No. : U15419WB1986PLC040729 |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3720200 |
Equity Shares |
Rs. 10/- each |
Rs. 37.202
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 |
37.202 |
37.202 |
27.202 |
|
(b) Reserves & Surplus |
339.637 |
323.077 |
219.653 |
|
(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) |
376.839 |
360.279 |
246.855 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.264 |
1.768 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
0.264 |
1.768 |
0.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
666.335 |
645.389 |
668.125 |
|
(b) Trade
payables |
0.000 |
0.000 |
0.000 |
|
(c) Other
current liabilities |
4.097 |
6.710 |
3.273 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
670.432 |
652.099 |
671.398 |
|
|
|
|
|
|
TOTAL |
1047.535 |
1014.146 |
918.253 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
4.833 |
6.101 |
2.774 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1.229 |
1.229 |
0.229 |
|
(c) Deferred tax assets (net) |
0.609 |
0.508 |
0.867 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
6.671 |
7.838 |
3.870 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade
receivables |
956.595 |
927.190 |
843.853 |
|
(d) Cash
and cash equivalents |
11.943 |
20.422 |
40.772 |
|
(e)
Short-term loans and advances |
72.326 |
58.696 |
29.758 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
1040.864 |
1006.308 |
914.383 |
|
|
|
|
|
|
TOTAL |
1047.535 |
1014.146 |
918.253 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
984.957 |
1699.827 |
1431.441 |
|
|
|
Other Income |
0.000 |
(0.032) |
45.400 |
|
|
|
TOTAL |
984.957 |
1699.795 |
1476.841 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase of stock in trade |
882.103 |
1592.312 |
1334.540 |
|
|
|
Employees Benefits |
6.248 |
6.832 |
5.342 |
|
|
|
Other Expenses |
15.217 |
12.177 |
13.272 |
|
|
|
TOTAL |
903.568 |
1611.321 |
1353.154 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
81.389 |
88.474 |
123.687 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
55.322 |
66.175 |
103.616 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
26.067 |
22.299 |
20.071 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.509 |
1.716 |
1.076 |
|
|
|
|
|
|
|
|
|
Add |
EXTRAORDINARY
ITEMS BEFORE TAX |
0.000 |
0.000 |
0.146 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
24.558 |
20.583 |
19.141 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
7.998 |
7.159 |
5.282 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
16.560 |
13.424 |
13.859 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
|
|
|
|
|
Basic |
4.45 |
3.61 |
5.09 |
|
|
|
Diluted |
4.45 |
4.92 |
5.09 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.68
|
0.79 |
0.94 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.49
|
1.21 |
1.34 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.35
|
2.03 |
2.09 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.06 |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.77
|
1.80 |
2.71 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.55
|
1.54 |
1.36 |
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 |
27.202 |
37.202 |
37.202 |
|
Reserves & Surplus |
219.653 |
323.077 |
339.637 |
|
Net
worth |
246.855 |
360.279 |
376.839 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
1.768 |
0.264 |
|
Short term borrowings |
668.125 |
645.389 |
666.335 |
|
Total
borrowings |
668.125 |
647.157 |
666.599 |
|
Debt/Equity
ratio |
2.707 |
1.796 |
1.769 |
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 |
1431.441 |
1699.827 |
984.957 |
|
|
|
18.749 |
(42.055) |
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 |
1431.441 |
1699.827 |
984.957 |
|
Profit |
13.859 |
13.424 |
16.560 |
|
|
0.97% |
0.79% |
1.68% |
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 |
----- |
|
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 |
Yes |
|
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 |
|
|
|
Interoperate borrowing |
199.333 |
148.170 |
|
|
|
|
|
Total |
199.333 |
148.170 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10459759 |
24/10/2013 |
125,000,000.00 |
ORIENTAL BANK OF COMMERCE |
GARIAHAT BRANCH, 23C, A.C. AVENUE, KCI PLAZA, 1ST FLOOR,
GARIAHAT, KOLKATA - 700019, WEST BENGAL, INDIA |
B89288765 |
|
2 |
10454892 |
25/09/2013 |
400,000,000.00 |
UNION BANK OF INDIA |
INDIA EXCHANGE PLACE BRANCH, 15, INDIA EXCHANGE PLACE, KOLKATA -
700001, WEST BENGAL, INDIA |
B87491486 |
|
3 |
10429626 |
08/04/2013 |
50,000,000.00 |
UNION BANK OF INDIA |
INDIA EXCHANGE PLACE BRANCH, 15, INDIA EXCHANGE PLACE, KOLKATA - 700001,
WEST BENGAL, INDIA |
B76535772 |
|
4 |
10179228 |
07/09/2009 |
500,000,000.00 |
UCO BANK (LEAD BANK) |
MID CORPORATE BRANCH, 2, INDIA EXCHANGE PLACE, KOLKATA - 700001, WEST
BENGAL, INDIA |
A71071781 |
|
5 |
10139478 |
04/12/2008 |
32,500,000.00 |
INDUSIND BANK LIMITED |
KOLKATA BRANCH, 3A, UPPER WOOD STREET, KOLKATA - 700017, WEST BENGAL,
INDIA |
A53695557 |
|
6 |
10088150 |
17/12/2007 |
100,000,000.00 |
BANK OF BARODA |
4 BRABOURNE ROAD, KOLKATA - 700001, WEST BENGAL, INDIA |
A32358848 |
|
7 |
80038220 |
12/08/2008 * |
225,000,000.00 |
UCO BANK |
MID CORPORATE BRANCH, 2, INDIA EXCHANGE PLACE, KOLKATA - 700001, WEST
BENGAL, INDIA |
A43589399 |
* Date of charge modification
CURRENT YEAR
PERFORMANCE:
During the year, the Company was engaged in the business activities of
trading, consignment and del-credere agency etc. for various kinds of Stainless
Steel Industrial Products, Stainless Steel Scrap and other related inputs used
in the process of manufacture of Stainless Steel.
The Business Turnover of the Company during the current fiscal year ended
31.03.2013 stood at Rs. 9210.000 millions as compared to Rs.8614.400 millions
in the previous year showing 6.91% growth. During the F.Y. 2012-13 the sale of
Stainless Steel increased to Rs. 5654.800 millions from Rs. 5429.800 millions
in the last fiscal year ended 31.03.2012. The price of Stainless Steel
increased due to increase in input prices. The Input prices increased due to
scarcity in availability of iron ore and ferro alloys and also due to sharp devaluation
in the value of rupee resulting in increase in cost of imported inputs.
The economic recession in the global market, particularly in Europe,
continued and the impact could be felt in the market where demand for Stainless
Steel sharply fell in face of high prices and low demand. The Company had to offer
higher credit period and competitive rates to customers to sustain in the
market and to make the product sellable.
The Company is optimistic that the economic scenario will improve in the
coming months and is optimistic of following the growth path in the year to
come. The cost reduction measures undertaken by its principal M/s. Mukand Limited
and growth potential in automobile and engineering goods industry will help the
Company in accelerating its growth. The Company has taken measures to
continuously develop and broaden its customer base and increase its market
share.
FIXED ASSETS
Ø Furniture and Fixtures
Ø Vehicles
Ø Motor Vehicles
Ø Office Equipment
Ø Computer Equipments
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.60.94 |
|
|
1 |
Rs.101.37 |
|
Euro |
1 |
Rs.84.89 |
INFORMATION DETAILS
|
Information Gathered
by : |
NYA |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
47 |
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.