MIRA
INFORM REPORT
|
Report Date : |
10.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
GAYSON AND COMPANY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
18-D, Everest House, 46/C, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
18.07.1963 |
|
|
|
|
Com. Reg. No.: |
21-025860 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.4.771
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29199WB1963PTC025860 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALG00293G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCG0158R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Supplier of Rolling Mills, Rolls, Associated Equipments and
Consumables to Mini Steel Plants. |
|
|
|
|
No. of Employees
: |
Information denied by the management. |
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 1943800 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is the part of Modern Group. It is an established company having moderate track record. The company
is performing well. However, the rating takes into consideration volatility in raw
material prices, Intense Market Competition arising out of fragmentation in
the Ferro-Alloy Industry. The rating also takes into consideration deterioration in the modern
group’s liquidity on account of lower than expected cash accruals and delays
in receipts of government subsidies. Trade relations are reported to be fair. Business is active. Payment
terms are reported to be slow but correct. The company can be considered for business dealing with some cautions.
|
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 |
CRISIL |
|
Rating |
A4+ [Short Term] |
|
Rating Explanation |
Have minimal degree of safety and carry very high credit risk. |
|
Date |
11.11.2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED BY
|
Name : |
Mr. Nikhil Jain |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-33-30521112 |
|
Date : |
06.05.2014 |
LOCATIONS
|
Registered /Head Office : |
18-D, Everest House, 46/C, Jawaharlal Nehru Road, Kolkata – 700071, West Bengal, India |
|
Tel. No.: |
91-33-30521112/ 14/ 15/ 16/ 17/ 20 |
|
Fax No.: |
91-33-22889247/ 1121 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
6G-Everest, 46C, Jawaharlal Nehru Road, Kolkata-700 071, West Bengal, India |
|
|
|
|
Branch Office : |
Mumbai : Flat No. 1203, 12th Floor,
Jimmy Towers II, Plot No. 19 to 22, Sector 18, Kopar Khairane, Navi Mumbai,
Maharashtra, India Tel : 91-22-27547536 E-mail : kapil@gaysons.com Mr. K.K.Mahajan B-4A/27, Rana Pratap Bagh, New Delhi –
110007, India E-mail : mahajan@gaysons.com Mr. N.K.Prasad 33, 9th Cross, 16th
Main Road, B.T.M. 1st Stage, Thavarekere, Near BDA Park-N,
Bangalore – 560029, Karnataka, India E-mail : prasad@gaysons.com Chennai : Mr. H.P.Singh AL-112, 11th Main Road, 3rd
Street, Anna Nagar, Chennai – 600040, Tamilnadu, India E-mail : hpsingh@gaysons.com Mr. Anand Dixit 128/253,
K Block, (Near Sri Rameswaram Mandir), Kidwai Nagar, Kanpur – 208011, Uttar Pradesh, India E-mail : anand@gaysons.com Bhillai : Mr. Razi Ahmed C/o AM Menay, EWS 151, Vaishali Nagar,
Near Gol Market, Bhillai, District Durg, Chhattisgarh,
India E-mail : razi@gaysons.com |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Chetan Aggarwala |
|
Designation : |
Director |
|
Address : |
1/1D, Asha Co-operative Housing Limited, 93 Deshpran Sasmal Road, Kolkata – 700033, West Bengal, India. |
|
Date of Birth/Age : |
07.05.1975 |
|
Date of Appointment : |
08.02.2000 |
|
DIN No.: |
00107606 |
|
|
|
|
Name : |
Mr. Bhupinder Singh Saini |
|
Designation : |
Director |
|
Address : |
3/1, Mandeville Garden, Kolkata – 700019, West Bengal, India. |
|
Date of Birth/Age : |
20.07.1941 |
|
Date of Appointment : |
12.05.1981 |
|
DIN No.: |
00107665 |
|
|
|
|
Name : |
Mr. Tejinder Singh Saini |
|
Designation : |
Director |
|
Address : |
3/1, Mandeville Garden, Kolkata – 700019, West Bengal, India. |
|
Date of Birth/Age : |
16.03.1971 |
|
Date of Appointment : |
01.04.2005 |
|
DIN No.: |
00107721 |
|
|
|
|
Name : |
Mr. Amardeep Singh |
|
Designation : |
Director |
|
Address : |
3/1, Mandeville Garden, Kolkata – 700019, West Bengal, India. |
|
Date of Birth/Age : |
25.08.1960 |
|
Date of Appointment : |
06.10.1986 |
|
DIN No.: |
00107756 |
KEY EXECUTIVES
|
Name : |
Mr. Nikhil Jain |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Amandeep Singh Dhanjal |
|
1910 |
|
Amarjit Kaur Saini |
|
4620 |
|
Gurvinder Kaur Dhanjal |
|
4440 |
|
Rana Udyog Private Limited, India |
|
6819 |
|
Chetan Aggarwal |
|
2385 |
|
Bhupinder Singh |
|
4408 |
|
Amardeep Singh |
|
4545 |
|
Bharat Roll Industry Private Limited, India |
|
2580 |
|
Salil Aggarwal |
|
2384 |
|
Jitendra Singh |
|
1243 |
|
Bevlyn Saini |
|
4665 |
|
Tejinder Singh |
|
3070 |
|
Bakhshish Singh |
|
4625 |
|
|
|
|
|
TOTAL
|
|
47694 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
19.71 |
|
Directors
or relatives of directors |
|
39.91 |
|
Other
top fifty shareholders |
|
40.38 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Supplier of Rolling Mills, Rolls, Associated Equipments and
Consumables to Mini Steel Plants. |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management. |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
·
Axis Bank
Limited, Kolkata Main Branch, 7, Shakespeare Sarani, Kolkata – 700071, West
Bengal, India · ICICI Bank Limited, Regional Office-Kolkata, 2B, Gorky Terrace, Infront of Park Nursing Home, Kolkata - 700017, West Bengal, India ·
Punjab and Sindh Bank, IBD Kolkata, 14 and 15,
Old Court House Street, Kolkata-700001, West Bengal, India ·
The Federal Bank Limited, Kolkata Overseas Bank,
Shakespeare Court, 21A, Shakespeare Sarani, 1st Floor,
Kolkata-700017 West Bengal, India |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Ghosh and Pande Chartered Accountants |
|
Address : |
Mercantile Building, Block – A, Room No. 59, 9, Lalbazar Street, 2nd Floor, Kolkata – 700001, West Bengal, India. |
|
Tel. No.: |
91-33-22304638 |
|
Fax No.: |
91-33-22304852/ 22312731 |
|
E-Mail : |
|
|
PAN No: |
AACFG0980H |
|
|
|
|
Associates : |
·
Bharat Roll Industry Private Limited [U27109WB1985PTC038819] ·
Rana Udyog Private Limited [U51909WB1995PTC071361] ·
Modern India Con Cast Limited
[U27106WB1987PLC042166] ·
Naveen Holdings Private Limited [U70109WB1987PTC042187] ·
Modern Ispat Private Limited ·
Magnum Dealcomm Private Limited [U51909WB1995PTC075496] |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.100/- each |
Rs.10.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
47694 |
Equity Shares |
Rs.100/- each |
Rs.4.769
Millions |
|
|
Forfeited Shares |
|
Rs.0.002
Million |
|
|
TOTAL
|
|
Rs.4.771 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 |
4.771 |
4.771 |
4.771 |
|
(b) Reserves &
Surplus |
481.187 |
433.015 |
312.135 |
|
(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) |
485.958 |
437.786 |
316.906 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
4.156 |
4.981 |
6.015 |
|
(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) |
4.156 |
4.981 |
6.015 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
808.234 |
827.299 |
903.555 |
|
(b) Trade payables |
234.585 |
466.379 |
449.260 |
|
(c) Other current
liabilities |
104.830 |
189.921 |
121.590 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Current Liabilities
(4) |
1147.649 |
1483.599 |
1474.405 |
|
|
|
|
|
|
TOTAL |
1637.763 |
1926.366 |
1797.326 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
50.972 |
55.044 |
59.815 |
|
(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 |
62.919 |
62.919 |
50.986 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
125.736 |
6.043 |
2.856 |
|
(e) Other Non-current
assets |
11.708 |
0.000 |
0.000 |
|
Total Non-Current Assets |
251.335 |
124.006 |
113.657 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
73.153 |
45.051 |
96.721 |
|
(c) Trade receivables |
701.510 |
998.206 |
892.177 |
|
(d) Cash and cash
equivalents |
275.766 |
435.843 |
508.655 |
|
(e) Short-term loans and
advances |
3.500 |
0.000 |
4.809 |
|
(f) Other current assets |
332.499 |
323.260 |
181.307 |
|
Total Current Assets |
1386.428 |
1802.360 |
1683.669 |
|
|
|
|
|
|
TOTAL |
1637.763 |
1926.366 |
1797.326 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
7219.422 |
9177.656 |
7321.787 |
|
|
Other Income |
27.649 |
104.519 |
118.773 |
|
|
TOTAL (A) |
7247.071 |
9282.175 |
7440.560 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of
Stock-in-Trade |
6613.368 |
8546.928 |
6964.697 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(28.102) |
51.670 |
(41.017) |
|
|
Employees benefits
expense |
23.258 |
22.054 |
15.624 |
|
|
Prior period items |
0.979 |
4.236 |
0.597 |
|
|
Other expenses |
467.023 |
402.474 |
312.354 |
|
|
TOTAL (B) |
7076.526 |
9027.362 |
7252.255 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION
(C) |
170.545 |
254.813 |
188.305 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
92.262 |
69.816 |
46.127 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
78.283 |
184.997 |
142.178 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
4.423 |
5.145 |
5.534 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
73.860 |
179.852 |
136.644 |
|
|
|
|
|
|
|
Less |
TAX (H) |
25.689 |
58.971 |
45.588 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-H) (I) |
48.171 |
120.881 |
91.056 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD (K) |
424.246 |
303.364 |
212.308 |
|
|
|
|
|
|
|
|
BALANCE CARRIED TO THE
B/S |
472.417 |
424.245 |
303.364 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
Export of goods calculated on
FOB Basis |
NA |
8420.899 |
6894.986 |
|
|
Interest and Dividends |
NA |
0.036 |
0.556 |
|
|
TOTAL EARNINGS |
NA |
8420.935 |
6895.542 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
NA |
333.068 |
156.967 |
|
|
TOTAL IMPORTS |
NA |
333.068 |
156.967 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
1010.01 |
2534.51 |
1909.17 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.66
|
1.30 |
1.22 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.02
|
1.95 |
1.87 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.69
|
9.65 |
7.82 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.41 |
0.43 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.66
|
1.89 |
2.85 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.21
|
1.21 |
1.14 |
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 |
4.771 |
4.771 |
4.771 |
|
Reserves & Surplus |
433.015 |
481.187 |
481.187 |
|
Net worth |
437.786 |
485.958 |
485.958 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
903.555 |
827.299 |
808.234 |
|
Total borrowings |
903.555 |
827.299 |
808.234 |
|
Debt/Equity ratio |
2.064 |
1.702 |
1.663 |
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 |
7321.787 |
9177.656 |
7219.422 |
|
|
|
25.347 |
(21.337) |
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 |
7321.787 |
9177.656 |
7219.422 |
|
Profit |
91.056 |
120.881 |
48.171 |
|
|
1.24% |
1.32% |
0.67% |
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 |
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth 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 |
INDEX OF CHARGES:
|
S. NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER
(SRN) |
|
1 |
10420729 |
03/04/2013 |
110,000,000.00 |
PUNJAB & SINDH BANK |
IBD KOLKATA, 14 & 15,
OLD COURT HOUSE STREET, KOLKATA - 700001, WEST BENGAL, INDIA |
B73458903 |
|
2 |
10327337 |
28/12/2011 |
180,000,000.00 |
ICICI BANK LIMITED |
REGIONAL OFFICE-KOLKATA, 2B,
GORKY TERRACE, IN FRONT OF PARK NURSING HOME, KOLKATA - 700017, WEST BENGAL,
INDIA |
B29329992 |
|
3 |
10182847 |
07/09/2009 |
87,500,000.00 |
IDBI BANK LTD. |
IDBI HOUSE, 44,
SHAKESPEARE SARANI, KOLKATA - 700017, WEST |
A72114424 |
|
4 |
90252543 |
14/08/2013 * |
950,000,000.00 |
THE FEDERAL BANK LTD |
KOLKATA OVERSEAS BRANCH,
'SHAKESPEARE COURT', 21A |
B82811142 |
|
5 |
90251228 |
24/11/2011 * |
1,000,000,000.00 |
THE FEDERAL BANK LTD |
KOLKATA OVERSEAS BRANCH,
'SHAKESPEARE COURT', 21A |
B28027753 |
* Date of charge modification
OPERATIONAL REVIEW:
The performance of the company
was not as good as compared with that of the last year. The company has during
the year achieved a turnover of Rs.6785.449 Millions against that of the
previous year Rs. 8726.228 Millions resulting in an decrease of about 22 % over
the previous year due to the slump in the Iron and Steel Sector. The Company is
a Trader cum Exporter in the Iron and Steel Sector and currently the Iron and
Steel Sector is going through a downward slump which in turn is also affecting
our sales.
|
Unsecured Loan |
As
on 31.03.2013 [Rs.
in Millions] |
As
on 31.03.2012 [Rs.
in Millions] |
|
Short Term
Borrowings |
|
|
|
Loans and advances from directors |
1.005 |
2.899 |
|
TOTAL
|
1.005 |
2.899 |
FIXED ASSETS:
·
Land
·
Leasehold
Holiday Resort
·
Building
·
Flat
·
Plant
and Machinery
·
Office
Equipments
·
Motor
Car
·
Fax
Machine
·
Air
Conditioner
·
Television
·
Refrigerator
·
Furniture
and Fittings
·
Electrical
Installation
·
Wind
Electric Generator
·
Xerox
Machine
·
Computer
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.60.05 |
|
|
1 |
Rs.101.65 |
|
Euro |
1 |
Rs.83.07 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--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 |
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.