MIRA
INFORM REPORT
|
Report Date : |
26.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
HANS ISPAT LIMITED (w.e.f. 27.06.2005) |
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Formerly Known As : |
HANS ISPAT PRIVTAE LIMITED |
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Registered Office : |
A-1, Skylark Apartment, Satellite Road, Satellite, Ahmedabad -
380015, Gujarat |
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Country : |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
12.11.1991 |
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Com. Reg. No.: |
04-057955 [New] 20-013695 [Old] |
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|
|
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Capital Investment
/ Paid-up Capital : |
Rs. 364.200 Millions |
|
|
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|
CIN No.: [Company
Identification No.] |
U51109GJ1991PLC057955 [New] U51109UP1991PLC013695 [Old] |
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|
TAN No.: [Tax
Deduction & Collection Account No.] |
RKTH00656F |
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PAN No.: [Permanent
Account No.] |
AABCH2447Q |
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|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business : |
Subject is engaged in
manufacturing of billets through induction furnace and rolled products
through rolling mill. |
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|
|
|
No. of Employees : |
Information declined by the
management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (11) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but delayed |
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|
|
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Litigation : |
Exist |
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|
Comments : |
Subject is an established company having a moderate track records. The rating takes into consideration the delay in servicing its debt
obligation due to high leverage and susceptibility of its profitability to
volatile raw material prices. However, Business is active. Payment terms are reported to be slow and
delayed. The company can be considered for business dealings on safe and
secured trade terms and conditions. Note : As confirmed by Ms. Sini Joseph (Finance Manager) the subject company
has taken over by Electrotherm India Limited in the year 10th May,
2010 and she also confirmed that the name of the company remains to be same. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1 million
Indian tourists in 2012), Thailand (one million), the United Arab Emirates
().98 million) and Malaysia ().82 million) emerged as the preferred holidays
hotspots for Indians. The total figure is expected to increase to 1.93 million
by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities = C |
|
Rating Explanation |
Have very high risk of defaults. |
|
Date |
June 21, 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 BY
|
Name : |
Ms. Sini Joseph |
|
Designation : |
Finance manager |
|
Contact No.: |
91-2717-660550 |
|
Date : |
22.05.2014 |
|
Name : |
Mr. Navin Patel |
|
Designation : |
Factory Incharge |
|
Contact No.: |
91-9099958401 |
|
Date : |
22.05.2014 |
LOCATIONS
|
Registered Office : |
A-1, Skylark Apartment, Satellite Road, Satellite, Ahmedabad -
380015, Gujarat, India |
|
Tel. No.: |
91-79-26768844 |
|
Mobile No.: |
91-9099958401 (Mr. Navin Patel
) |
|
Fax No.: |
91-79-26768855 |
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E-Mail : |
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Website : |
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Factory : |
Survey No 5/P, 9-13, Village Bhudarmora, Bhachau-Bhuj Highway, Anjar, Gujarat, India |
DIRECTORS
AS ON 28.12.2012
|
Name : |
Mr. Mukesh Bhanwarlal Bhandari |
|
Designation : |
Director |
|
Address : |
A-1, Skylark Apartment, Satellite Road, Satellite, Ahmedabad -
380015, Gujarat, India |
|
Date of Birth/Age : |
05.08.1951 |
|
Date of Appointment : |
01.06.2010 |
|
DIN No. : |
00014511 |
|
|
|
|
Name : |
Mr. Shailesh Bhanwarlal Bhandari |
|
Designation : |
Director |
|
Address : |
A-1, Skylark Apartment, Satellite Road, Satellite, Ahmedabad -
380015, Gujarat, India |
|
Date of Birth/Age : |
01.07.1958 |
|
Date of Appointment : |
01.06.2010 |
|
DIN No. : |
00058866 |
|
|
|
|
Name : |
Mr. Avinash Prakashchandra Bhandari |
|
Designation : |
Director |
|
Address : |
24, Someshwar Complex, Satellite
Road, Satellite, Ahmedabad - 380015, Gujarat, India |
|
Date of Birth/Age : |
29.09.1965 |
|
Date of Appointment : |
01.06.2010 |
|
DIN No. : |
00058986 |
KEY EXECUTIVES
|
Name : |
Mr. Mahindrakumar R. Patira |
|
Designation : |
Manager |
|
Address : |
Plot – 314, NU – 04, Sapna nagar, Kutch - 370201, Gujarat, india |
|
Date of Birth/Age : |
12.01.1955 |
|
Date of Appointment : |
01.10.2010 |
|
PAN No.: |
ACEPP7630B |
|
Name : |
Ms. Sini Joseph |
|
Designation : |
Finance manager |
|
Name : |
Mr. Navin Patel |
|
Designation : |
Factory Incharge |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.12.2012
|
Names of Shareholders |
|
No. of Shares |
|
Electrotherm (India) Limited, India |
|
31407900 |
|
Electrotherm (India) Limited, India Joint Mukesh Bhandari |
|
3000 |
|
Electrotherm (India) Limited, India Joint Nagesh Bhandari |
|
3000 |
|
Electrotherm (India) Limited, India Joint Shailesh Bhandari |
|
3000 |
|
Electrotherm (India) Limited, India Joint Siddharth Bhandari |
|
2000 |
|
Electrotherm (India) Limited, India Joint Narendra Dalal |
|
1000 |
|
Electrotherm (India) Limited, India Joint Avinash Bhandari |
|
100 |
|
|
|
|
|
Total |
|
31420000 |
Date of Allottees 16.01.2013
|
Names of Allottee |
|
No. of Shares |
|
Electrotherm (India) Limited, India |
|
2350000 |
|
|
|
|
|
Total |
|
2350000 |
Date of Allottees 05.03.2013
|
Names of Allottee |
|
No. of Shares |
|
Electrotherm (India) Limited, India |
|
2650000 |
|
|
|
|
|
Total |
|
2650000 |
AS ON 28.12.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing of billets through induction furnace and rolled products through rolling mill. |
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Products : |
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Brand : |
“HANS” |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the
management. |
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Bankers : |
State Bank of India, Mid Corporate Overseas Branch, 3rd Floor,, Navjivan
Trust Complex, Navjivan P. O., Ahmedabad - 380014, Gujarat, India |
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Facilities : |
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Banking Relations
: |
----- |
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Auditors : |
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Name : |
Hitesh Prakash Shah and Company Chartered Accountants |
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|
Address : |
105, 1st Floor, Sakar - 1, Ashram Road, Ahmedabad – 380009, Gujarat,
India |
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PAN No.: |
APGPS0174L |
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Holding company
: |
Electrotherm (India) Limited [L29249GJ1986PLC009126] |
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Subsidiary
of Holding Company : |
Shree Hans Papers Limited [U21012GJ1995PLC064736] |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
37000000 |
Equity Shares |
Rs. 10/- each |
Rs. 370.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
36420000 |
Equity Shares |
Rs. 10/- each |
Rs. 364.200
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
01.10.2012 to 31.03.2013 |
01.04.2011 to 30.09.2012 |
31.03.2011 |
|
|
[6
Months] |
[18
Months] |
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
364.200 |
314.200 |
177.700 |
|
(b) Reserves & Surplus |
(311.015) |
(265.259) |
(81.647) |
|
(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) |
53.185 |
48.941 |
96.053 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
625.149 |
443.013 |
33.695 |
|
(b) Deferred tax liabilities
(Net) |
41.780 |
41.780 |
41.780 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
1.251 |
4.125 |
1.199 |
|
Total
Non-current Liabilities (3) |
668.180 |
488.918 |
76.674 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
211.019 |
258.974 |
714.191 |
|
(b) Trade payables |
310.209 |
481.567 |
334.724 |
|
(c) Other current liabilities |
78.603 |
71.100 |
104.520 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
599.831 |
811.641 |
1,153.435 |
|
|
|
|
|
|
TOTAL |
1,321.196 |
1,349.500 |
1,326.162 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
402.070 |
413.954 |
390.784 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
26.683 |
11.838 |
2.100 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
3.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
57.126 |
57.126 |
56.205 |
|
(e) Other Non-current assets |
22.350 |
17.350 |
14.096 |
|
Total
Non-Current Assets |
508.229 |
500.268 |
466.185 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
589.172 |
630.499 |
706.133 |
|
(c) Trade receivables |
152.711 |
175.454 |
76.467 |
|
(d) Cash and cash equivalents |
6.075 |
3.308 |
10.390 |
|
(e) Short-term loans and
advances |
47.677 |
36.282 |
64.004 |
|
(f) Other current assets |
17.332 |
3.689 |
2.983 |
|
Total
Current Assets |
812.967 |
849.232 |
859.977 |
|
|
|
|
|
|
TOTAL |
1,321.196 |
1,349.500 |
1,326.162 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
01.10.2012 to 31.03.2013 |
01.04.2011 to 30.09.2012 |
31.03.2011 |
|
|
|
[6
Months] |
[18
Months] |
|
|
|
SALES |
|
|
|
|
|
Revenue From Operations |
1,290.710 |
5,267.820 |
3,436.673 |
|
|
Other Income |
39.476 |
47.798 |
98.923 |
|
|
TOTAL
(A) |
1,330.186 |
5,315.618 |
3,535.596 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
963.562 |
4,057.285 |
3,042.489 |
|
|
Extraordinary Items |
0.000 |
0.000 |
28.090 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(4.333) |
29.645 |
(187.787) |
|
|
Employees benefits expense |
52.920 |
172.063 |
90.078 |
|
|
Other expenses |
317.814 |
1,015.872 |
637.894 |
|
|
TOTAL
(B) |
1,329.963 |
5,274.865 |
3,610.764 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
0.223 |
40.753 |
(75.168) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
33.278 |
188.416 |
73.595 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(33.055) |
(147.663) |
(148.763) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
12.701 |
35.948 |
21.050 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
(45.756) |
(183.611) |
(169.813) |
|
|
|
|
|
|
|
Less |
TAX
(H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G- H)
|
(45.756) |
(183.611) |
(169.813) |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
0.000 |
179.148 |
182.284 |
|
|
Components and Stores parts |
0.566 |
0.855 |
0.293 |
|
|
TOTAL
IMPORTS |
0.566 |
180.003 |
182.577 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
|
|
|
KEY RATIOS
|
PARTICULARS |
|
01.10.2012 to 31.03.2013 |
01.04.2011 to 30.09.2012 |
31.03.2011 |
|
|
|
[6
Months] |
[18
Months] |
|
|
PAT / Total Income |
(%) |
(3.44) |
(3.45) |
(4.80) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(3.54) |
(3.48) |
(4.94) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.53) |
(13.72) |
(12.85) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.86) |
(3.75) |
(1.76) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
15.72 |
14.34 |
7.78 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.35 |
1.05 |
0.74 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
30.09.2012 |
31.03.2013 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
177.700 |
314.200 |
364.200 |
|
Reserves & Surplus |
(81.647) |
(265.259) |
(311.015) |
|
|
|
|
|
|
Net
worth |
96.053 |
48.941 |
53.185 |
|
|
|
|
|
|
long-term borrowings |
33.695 |
443.013 |
625.149 |
|
Short term borrowings |
714.191 |
258.974 |
211.019 |
|
Total
borrowings |
747.886 |
701.987 |
836.168 |
|
Debt/Equity
ratio |
7.786 |
14.344 |
15.722 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
30.09.2012 |
31.03.2013 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Revenue From Operations |
3,436.673 |
5,267.820 |
1,290.710 |
|
|
|
53.283 |
(75.498) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
30.09.2012 |
31.03.2013 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Revenue From Operations |
3,436.673 |
5,267.820 |
1,290.710 |
|
Profit After Tax |
(169.813) |
(183.611) |
(45.756) |
|
|
(4.94%) |
(3.49%) |
(3.55%) |
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% |
No |
|
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 |
Yes |
|
23] |
Banking
Details |
Yes |
|
24] |
Banking
facility details |
Yes |
|
25] |
Conduct of
the banking account |
------ |
|
26] |
Buyer visit
details |
---- |
|
27] |
Financials,
if provided |
Yes |
|
28] |
Incorporation
details, if applicable |
Yes |
|
29] |
Last accounts
filed at ROC |
Yes |
|
30] |
Major
Shareholders, if available |
Yes |
|
31] |
Date of Birth
of Proprietor/Partner/Director, if available |
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 |
LITIGATION DETAILS
HIGH
COURT OF GUJARAT
|
|
CRIMINAL
MISC.APPLICATION No.
4408 of 2010 |
|
|
|
In
CRIMINAL MISC.APPLICATION /
2211 /
2010 (
PENDING ) |
|
Status : PENDING |
|
CCIN
No : 001044201004408 |
|
Last Listing Date: |
28/04/2010 |
|
Coram |
·
HONOURABLE MR.JUSTICE ANANT S. DAVE |
Not Before : |
·
HONOURABLE MR.JUSTICE P.B.MAJMUDAR |
|
S.NO. |
Name of the Petitioner |
Advocate On Record |
|
1 |
KRISHNA FUELS - THRO' PANKAJ KARSHANBHAI THAKKER (PARTNER) |
MR SP MAJMUDAR for: Applicant(s) |
|
S.NO. |
Name of the Respondant |
Advocate On Record |
|
1 |
STATE OF GUJARAT |
PUBLIC PROSECUTOR for :Respondent(s) |
|
|
|||
|
Presented On |
: 27/04/2010 |
Registered On |
: 27/04/2010 |
|
Bench Category |
: SINGLE BENCH |
District |
: KACHCHH |
|
Case Originated From |
: THROUGH ADVOCATE |
Listed |
: 1 times |
|
StageName |
: ADMISSION BOARD (PER COURT MATTER) |
||
|
|
|
|
Act |
·
CRIMINAL PROCEDURE CODE, 1973 |
Office Details
|
|
S.
No. |
Filing
Date |
Document
Name |
Advocate
Name |
Court
Fee on Document |
Document
Details |
|
|
1 |
27/04/2010 |
MEMO OF APPEAL/PETITION/SUIT |
MR SP MAJMUDAR ADVOCATE |
20 |
MR
SP MAJMUDAR:1 |
|
Linked Matters
|
|
|||||
|
S.
No. |
CaseDetail |
Status
Name |
Disposal
Date |
Action/Coram |
|
1 |
CRIMINAL MISC.APPLICATION/2211/2010 |
PENDING |
- |
- ·
HONOURABLE MR.JUSTICE RAJESH H.SHUKLA |
Court Proceedings
|
||||
|
S.
No. |
Notified
Date |
CourtCode |
Board
Sr. No. |
Stage |
Action |
Coram |
|
1 |
28/04/2010 |
13 |
- |
URGENT ADMISSION BOARD (PER
COURT MATTER) |
NEXT DATE |
·
HONOURABLE MR.JUSTICE ANANT S. DAVE |
Available Orders
|
||||||
|
S.
No. |
Case
Details |
Judge
Name |
Order
Date |
CAV |
Judgement |
Questions |
Transferred |
|
1 |
CRIMINAL MISC.APPLICATION/4408/2010 |
·
HONOURABLE MR.JUSTICE ANANT S. DAVE |
28/04/2010 |
N |
ORDER |
- |
Y |
VIEW INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10376392 |
21/08/2012 |
603,000,000.00 |
STATE BANK OF
INDIA |
MID Corporate Overseas Brach, 3rd Floor,
Navjivan |
B58053851 |
|
2 |
10306617 |
29/12/2012 * |
900,100,000.00 |
STATE BANK OF
INDIA |
MID Corporate Overseas Brach, 3rd Floor,
Navjivan |
B66744897 |
|
3 |
10306625 |
29/12/2012 * |
900,100,000.00 |
STATE BANK OF
INDIA |
MID Corporate Overseas Brach, 3rd Floor,
Navjivan |
B66705427 |
|
4 |
10306522 |
05/09/2011 |
122,500,000.00 |
STATE BANK OF
INDIA |
MID Corporate Overseas Brach, 3rd Floor,
Navjivan |
B20649695 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
in Millions) |
30.09.2012 (Rs.
in Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans repayable on demand from others |
34.056 |
0.000 |
|
|
|
|
|
Total |
34.056 |
0.000 |
FINANCIAL PERFORMANCE:
The Financial year
2012-2013 was consisting of 6 (six) months and as such all reference to
financial year 2012-2013 in this Directors Report is to be read as period of 6 (six)
months. Hence figures of the financial year 2012-2013 are not comparable with
the figures of previous financial year 2011-2012.
DESCRIPTION OF
STATE OF COMPANIES AFFAIR
During the year
ended on 31st March, 2013, the total revenue of the company is Rs. 1330.185
millions compared to revenue of Rs. 5315.617 millions of previous financial
year. The Net Loss for the year is Rs. 45.756 millions as against loss of Rs.
183.611 millions
of the previous financial
year.
WEBSITE
DETAILS
NEWS /
PRESS
2nd-Jun-2010
Electrotherm - Completion of Acquisition of Hans Ispat
Limited and Shree Hans Papers Limited
With reference to the earlier announcement dated May 10,
2010 regarding Execution of Agreement for Acquisition of Hans Ispat Limited and Shree Hans Paper Limited, Electrotherm (India) Limited has now informed BSE
that the Company has acquired the 100% shareholding of Hans Ispat Limited and remaining
shareholding of Shree Hans Papers Limited (a subsidiary of Hans
Ispat Limited) and accordingly completed the said acquisitions. As such
Hans Ispat Limited has become a wholly owned subsidiary and Shree Hans Papers Limited has become a step down
subsidiary of Electrotherm (India) Limited with effect from June
01, 2010.
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 records 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] 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.58.48 |
|
|
1 |
Rs.98.67 |
|
Euro |
1 |
Rs.79.81 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
1 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
1 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
11 |
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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. 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 |
No Rating |
|
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.