MIRA INFORM REPORT
|
Report Date : |
29.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
ROHIT FERRO-TECH LIMITED |
|
|
|
|
Registered
Office : |
35, Chittaranjan Avenue, 5th Floor, Kolkata – 700 012, West
Bengal |
|
|
|
|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
07.04.2000 |
|
|
|
|
Com. Reg. No.: |
21-091629 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1137.761
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L27104WB2000PLC091629 |
|
|
|
|
Legal Form : |
A Public Limited Liability company. The company’s Share are Listed on
the Stock Exchange. |
|
|
|
|
Line of Business
: |
Manufacturer and seller of Ferro Alloys and Iron and Steel Products. |
|
|
|
|
No. of Employees
: |
927 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (36) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 32200000 |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow but correct |
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Litigation : |
Exist |
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|
Comments : |
Subject is an established company having moderate track record. There appears drastic dip in profit of the company in the year 2013. Rating also takes into consideration volatility in raw material and
finished good prices, dependence on cyclical steel sector and project
implementation risk associated with ongoing projects. Trade relations are fair. Business is active. Payment terms are slow
but correct. The company can be considered for business dealing with some caution. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term bank Facilities=BB- |
|
Rating Explanation |
Inadequate credit quality and high credit
risk. |
|
Date |
13.11.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities=A4 |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
13.11.2013 |
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.
LOCATIONS
|
Registered Office : |
35, |
|
Tel. No.: |
91-33-22119805/ 9806/ 9729 91-33-22110225/ 0226/ 4064 0021/ 0022 |
|
Fax No.: |
91-33-22114134/ 9834/ |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
SKP House, 132A, S. P. Mukherjee Road, Kolkata - 700 026 |
|
Tel. No.: |
91-33-40168000/ 8100 |
|
Fax No.: |
91-33-40168189/ 8107 |
|
|
|
|
Factory 1 : |
Bishnupur: |
|
Tel. No.: |
91-3244-251170 |
|
Fax No.: |
91-3244-251168 |
|
|
|
|
Factory 2 : |
Jaipur: Kalinganagar Industrial Complex, P O Duburi -755026, District Jaipur, |
|
|
|
|
Factory 3 : |
Haldia (Under
implementation) Joynagar, P.O.: Buniaraichak, P.S.: Durgachak, District: Purba
Medinipur, West Bengal, India |
DIRECTORS
AS ON 31.03.2013
|
Name : |
Mr. Suresh Kumar Patni |
|
Designation : |
Non-Executive Chairman |
|
Date of Birth/Age : |
53 Years |
|
Qualification : |
B. Com |
|
Date of Appointment : |
07.04.2000 |
|
Previous employment : |
Continuing as Managing Director in Impex Ferro – Tech Limited |
|
|
|
|
Name : |
Mr. Rohit Patni |
|
Designation : |
Managing Director |
|
Date of Birth/Age : |
29 Years |
|
Qualification : |
BE |
|
Date of Appointment : |
27.08.2007 |
|
Previous employment : |
Continuing as Joint Managing Director in Ankit Metal and power Limited |
|
|
|
|
Name : |
Mr. Ankit Patni |
|
Designation : |
Joint managing
Director |
|
Date of Birth/Age : |
25 Years |
|
Qualification : |
CFA |
|
Date of Appointment : |
27.08.2007 |
|
Previous employment : |
Continuing as Managing Director in Ankit Metal and power Limited |
|
|
|
|
Name : |
Mr. Binit Jain |
|
Designation : |
Executive Director |
|
Date of Birth/Age : |
34 Years |
|
|
|
|
Name : |
Mr. Kailash Chand Jain |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Jatindra Nath Rudra |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Jayanta Chatterjee |
|
Designation : |
Director |
|
Date of Birth/Age : |
70 Years |
|
|
|
|
Name : |
Mr. Asoke Kumar Basu |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Binit Jain |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Dinesh Biyanee |
|
Designation : |
Director |
SHAREHOLDING PATTERN
AS ON 31.03.2014
|
Names of Shareholders |
No. of Shares |
Percentage
of Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
Individuals / Hindu Undivided Family |
6065638 |
5.33 |
|
|
75852204 |
66.67 |
|
|
81917842 |
72.00 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
81917842 |
72.00 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
|
|
|
|
10789973 |
9.48 |
|
|
|
|
|
|
10714678 |
9.42 |
|
|
9024456 |
7.93 |
|
|
1329174 |
1.17 |
|
|
1048349 |
0.92 |
|
|
280825 |
0.25 |
|
|
31858281 |
28.00 |
|
Total Public shareholding (B) |
31858281 |
28.00 |
|
Total (A)+(B) |
113776123 |
100.00 |
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
113776123 |
0.00 |
(1) Indian
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and seller of Ferro Alloys and Iron and Steel Products. |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Ferro Alloys |
MT Per Annum |
239,542 |
181,360.04 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
· Allahabad Bank · Canara Bank · State Bank of India · State Bank of Hyderabad · State Bank of Travancore · United Bank of India |
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Facilities : |
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Banking
Relations : |
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|
|
|
|
Auditors : |
|
|
Name : |
S. Jaykishan Chartered Accountants |
|
Address : |
12, Ho-Chi Minh Sarani, Kolkata – 700 071, West |
|
|
|
|
Wholly Owned
Subsidiary : |
SKP Overseas PTE Limited |
|
|
|
|
Joint Venture : |
Rohit Persia Mines and Industries PJSC |
|
|
|
|
Enterprises owned
or significantly influenced by the Key Managerial Personnel or their
relatives : |
· Arin Minerals Private Limited · Impex Metal and Ferro Alloys Limited · Impex Ferro Tech Limited · Ankit Metal and Power Limited · Nucore Exports Private Limited · ArthodockVinimay Private Limited · Whitestone Suppliers Private Limited · Vasupujya Enterprises Private Limited. · MarbleArch Properties Private Limited · SKP PowerVentures Limited · SKP Aviation Services Limited · VNG Mercantiles Private Limited · Invesco Finance Private Limited · Poddar Mech Tech Services Private Limited. · Suanvi Trading and Investment Company Private Limited · Hira Concast Limited · Impex Steel Limited · Shreyansh Leafin Private Limited · Mahabali Ispat Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000000 |
Equity Shares |
Rs.10/- each |
Rs.1500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
113776123 |
Equity Shares |
Rs.10/- each |
Rs.1137.761
Millions |
|
|
|
|
|
a.
Reconciliation of the shares outstanding at the
beginning and at the end of the reporting period
|
Equity Shares |
31-03-2013 |
|
|
|
Nos. |
Rs. in Millions |
|
At the Beginning of the Period |
80276123 |
802.761 |
|
Issued During the Period |
33500000 |
335.000 |
|
At the End of the Period |
113776123 |
1137.761 |
b.
Terms / Rights attached to equity Shares
The Company has only one class of Equity Shares having a par value of Rs.10 per share. Each holder of Equity Shares is entitled to one vote per share. The Company declares and pays dividends in Indian Rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.
In the event of liquidation of the Company, the holders of Equity Shares will be entitled to receive remaining assets of the Company after distribution of all preferential amounts. The distribution will be in proportion to the number of Equity Shares held by the shareholders.
c.
Details of equity shares held by shareholders
holding more than 5% shares in the company
|
Name of
Shareholder |
Number
of Shares |
% holding |
|
Equity Shares of Rs.10 each fully paid |
|
|
|
|
|
|
|
Suanvi Trading and Investment Company Private Limited |
11237501 |
9.88 |
|
Vasupujya Enterprises Private Limited |
11359538 |
9.98 |
|
Invesco Finance Private Limited |
11039317 |
9.70 |
|
Poddar Mech Tech Services Private Limited |
12979933 |
11.41 |
|
Shreyansh Leafin Private Limited |
10993150 |
9.66 |
|
Whitestone Suppliers Private Limited |
1090765 |
9.59 |
d. During the year, the Company has made preferential allotment of 3,35,000,000 Equity Shares of Rs.10/- each at a premium of Rs.50/- per share, aggregating to Rs.20.100 Millions to part finance the setting up of a 33MVA Sub-merged Arc Furnace at Jaipur, to meet the long term working capital requirement of the Company and to invest the company’s Wholly Owned Subsidiary SKP Overseas Pte Limited. The proceeds of the issue have been utilised towards the objects of the said issue.
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 |
1137.761 |
802.761 |
552.761 |
|
(b) Reserves & Surplus |
6936.571 |
4983.408 |
3380.466 |
|
(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) |
8074.332 |
5786.169 |
3933.227 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
6068.538 |
4340.766 |
2946.945 |
|
(b) Deferred tax liabilities (Net) |
554.114 |
461.940 |
264.508 |
|
(c) Other long term liabilities |
392.141 |
22.604 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
7014.793 |
4825.310 |
3211.453 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
6739.892 |
5973.240 |
3713.446 |
|
(b) Trade payables |
3898.606 |
2306.335 |
1625.024 |
|
(c) Other current
liabilities |
2092.412 |
1507.063 |
1044.971 |
|
(d) Short-term provisions |
85.700 |
172.782 |
167.917 |
|
Total Current Liabilities (4) |
12816.610 |
9959.420 |
6551.358 |
|
|
|
|
|
|
TOTAL |
27905.735 |
20570.899 |
13696.038 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
5599.500 |
5874.797 |
3231.895 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
3888.327 |
797.774 |
2474.280 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
706.340 |
586.916 |
398.814 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1419.437 |
1322.293 |
495.189 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
11613.604 |
8581.780 |
6600.178 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
50.000 |
50.000 |
|
(b) Inventories |
8929.070 |
6491.497 |
4570.786 |
|
(c) Trade receivables |
3872.902 |
1967.552 |
597.065 |
|
(d) Cash and cash
equivalents |
519.623 |
866.766 |
427.860 |
|
(e) Short-term loans and
advances |
2091.046 |
2322.179 |
1190.263 |
|
(f) Other current assets |
879.490 |
291.125 |
259.886 |
|
Total Current Assets |
16292.131 |
11989.119 |
7095.860 |
|
|
|
|
|
|
TOTAL |
27905.735 |
20570.899 |
13696.038 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
22585.446 |
16773.052 |
11667.198 |
|
|
|
Other Income |
116.820 |
76.133 |
129.930 |
|
|
|
TOTAL (A) |
22702.266 |
16849.185 |
11797.128 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
10844.662 |
7631.040 |
6602.809 |
|
|
|
Purchase of Stock-in-Trade |
2138.828 |
1601.617 |
441.331 |
|
|
|
Changes in Inventories of Finished Goods and Work-in-Progress |
(214.054) |
(23.425) |
(684.998) |
|
|
|
Employee Benefits Expense |
231.135 |
194.420 |
128.063 |
|
|
|
Other Expenses |
7273.479 |
5564.093 |
3847.385 |
|
|
|
TOTAL (B) |
20274.050 |
14967.745 |
10334.590 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2428.216 |
1881.440 |
1462.538 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1438.447 |
1062.052 |
650.738 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
989.769 |
819.388 |
811.800 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
295.348 |
216.945 |
133.294 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
694.421 |
602.443 |
678.507 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
139.120 |
199.351 |
216.602 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
555.301 |
403.092 |
461.905 |
|
|
|
|
|
|
|
|
|
Less |
EXCEPTIONAL
ITEMS |
266.091 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT FOR THE
YEAR |
289.210 |
403.092 |
461.905 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2336.300 |
1979.800 |
1550.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
0.000 |
40.100 |
27.600 |
|
|
|
Corporate Dividend Tax |
0.000 |
6.500 |
4.500 |
|
|
BALANCE CARRIED
TO THE B/S |
2625.510 |
2336.300 |
1979.800 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of Exports |
9602.611 |
7076.175 |
6989.088 |
|
|
TOTAL EARNINGS |
9602.611 |
7076.175 |
6989.088 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
5266.252 |
3858.286 |
2575.073 |
|
|
|
Stores & Spares |
32.872 |
2.418 |
0.000 |
|
|
|
Capital Goods |
0.000 |
2.122 |
3.879 |
|
|
TOTAL IMPORTS |
5299.124 |
3862.826 |
2578.952 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.16 |
6.94 |
9.95 |
|
QUARTERLY RESULTS
(Rs.
In Millions)
|
Particulars |
|
30.06.2013 (Unaudited) |
30.09.2013 (Unaudited) |
|
|
|
1st
Quarter |
2nd
Quarter |
|
Net sales |
|
5847.800 |
7213.900 |
|
Total Expenditure |
|
5301.700 |
7614.700 |
|
PBIDT (Excluding Other Income) |
|
546.100 |
(400.800) |
|
Other income |
|
29.200 |
20.500 |
|
Operating Profit |
|
575.300 |
(380.300) |
|
Interest |
|
407.800 |
417.900 |
|
Exceptional Items |
|
0.000 |
0.000 |
|
PBDT |
|
167.500 |
(798.200) |
|
Depreciation |
|
74.800 |
76.000 |
|
Profit Before Tax |
|
92.700 |
(874.200) |
|
Tax |
|
30.800 |
(270.000) |
|
Profit after tax |
|
61.900 |
(604.200) |
|
Extraordinary Items |
|
0.000 |
0.000 |
|
Prior Period Expenses |
|
0.000 |
0.000 |
|
Other Adjustments |
|
0.000 |
0.000 |
|
Net Profit |
|
61.900 |
(604.200) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.45
|
2.39
|
3.91 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.03
|
3.59
|
5.82 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.98
|
3.14
|
6.27 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.10
|
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.59
|
1.78
|
1.69 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.27
|
1.20
|
1.08 |
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 |
552.761 |
802.761 |
1137.761 |
|
Reserves & Surplus |
3380.466 |
4983.408 |
6936.571 |
|
Net
worth |
3933.227 |
5786.169 |
8074.332 |
|
|
|
|
|
|
long-term borrowings |
2946.945 |
4340.766 |
6068.538 |
|
Short term borrowings |
3713.446 |
5973.240 |
6739.892 |
|
Total
borrowings |
6660.391 |
10314.006 |
12808.430 |
|
Debt/Equity
ratio |
1.693 |
1.783 |
1.586 |
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 |
11,667.198 |
16,773.052 |
22,585.446 |
|
|
|
43.762 |
34.653 |
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
|
11,667.198 |
16,773.052 |
22,585.446 |
|
Profit |
461.905 |
403.092 |
555.301 |
|
|
3.96% |
2.40% |
2.46% |
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 |
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:
CALCUTTA HIGH
COURT
CASE STATUS
INFORMATION SYSTEM
Case Status :
Pending
Status of TEMP APO (APOT) 440 of 2013
STATE OF WEST BENGAL & ORS &
ANR. Vs. ROHIT FERRO TECH LIMITED
Pet’s Adv.
: PARITOSH SINHA
Res’s Adv.
:
Court No.
: 1 Last Listed on: Friday,
January 10, 2014
Category
: SALES TAX : REVENUE
Connected Applications
(S) Connected Matters (S)
No Connected
Application. No Connected Cases.
Case Updated on:
Tuesday, December 24, 2013
UNSECURED LOAN:
|
Particulars |
31.03.2013 Rs.
In Millions |
31.03.2012 Rs.
In Millions |
|
Long Term Borrowings |
|
|
|
Loans from
related party |
|
|
|
Loan from Body Corporates |
0.000 |
230.900 |
|
Other loans and
Advances |
|
|
|
Loan from body corporates |
953.450 |
750.950 |
|
Loans against vehicles and Equipments |
9.401 |
22.323 |
|
|
|
|
|
Short Term
Borrowings |
|
|
|
Other loans and
Advances |
|
|
|
Bridge loan from WBIDC Limited |
2.137 |
10.685 |
|
|
|
|
|
Total |
964.988 |
1014.858 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10446751 |
30/08/2013 |
1,145,000.00 |
BANK
OF BARODA |
C.
R. AVENUE (SOUTH) BRANCH, 33, C. R. AVENUE BRANCH, KOLKATA, WEST BENGAL -
700012, INDIA |
B83862367 |
|
2 |
10422932 |
24/04/2013 |
1,300,000.00 |
STATE
BANK OF INDIA |
SMECCC,
KOLKATA, 1, STRAND ROAD, 4TH FLOOR, KOLKATA, WEST BENGAL - 700001, INDIA |
B74123555 |
|
3 |
10422283 |
28/03/2013 |
350,000,000.00 |
ANDHRA
BANK |
BALLYGUNGE
BRANCH,, 87, RASH BEHARI AVENUE, KOLKATA, WEST BENGAL - 700026, INDIA |
B73901308 |
|
4 |
10411712 |
27/02/2013 |
626,000.00 |
HDFC
BANK LIMITED |
HDFC
BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
B70746409 |
|
5 |
10410541 |
14/02/2013 |
16,487,300,000.00 |
UNITED
BANK OF INDIA |
CORPORATE
FINANCE BRANCH,, 11, HEMANTA BASU SARANI, KOLKATA, WEST BENGAL - 700001,
INDIA |
B70341300 |
|
6 |
10378976 |
03/10/2012 |
1,298,600,000.00 |
ALLAHABAD
BANK |
RED CROSS
PLACE BRANCH, 7, RED CROSS PLACE, KOLKATA, WEST BENGAL - 700001, INDIA |
B59072389 |
|
7 |
10363574 |
21/06/2012 |
1,790,000,000.00 |
STATE
BANK OF INDIA (LEAD BANK) |
INDUSTRIAL
FINANCE BRANCH, KOLKATA, 11, DR. U. N. BRAHMACHARI STREET, KOLKATA, WEST
BENGAL - 700017, INDIA |
B42845446 |
|
8 |
10364523 |
15/05/2012 |
100,000,000.00 |
SBI
GLOBAL FACTORS LIMITED |
6TH
FLOOR, METROPOLITAN BUILDING, BANDRA-KURLA, COMPLEX, BANDRA(EAST), MUMBAI,
MAHARASHTRA - 400051, INDIA |
B43208024 |
|
9 |
10346018 |
24/03/2012 |
500,000,000.00 |
CENTRAL
BANK OF INDIA |
CORPORATE
FINANCE BRANCH, KOLKATA, 33, NETAJI SUBHAS ROAD, KOLKATA, WEST BENGAL -
700001, INDIA |
B36476315 |
|
10 |
10334509 |
27/12/2011 |
13,682,000.00 |
ICICI
BANK LIMITED |
LANDMARKRACE
COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B31653546 |
|
11 |
10317464 |
15/10/2011 |
7,930,080.00 |
SREI
EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA',
86C, TOPSIA ROAD,, KOLKATA, WEST BENGAL - 700046, INDIA |
B25224858 |
|
12 |
10315366 |
25/07/2013
* |
6,987,700,000.00 |
STATE
BANK OF INDIA (LEAD BANK) |
INDUSTRIAL
FINANCE BRANCH, KOLKATA, 11, DR. U. N. BRAHMACHARI STREET, KOLKATA, WEST
BENGAL - 700017, INDIA |
B80727555 |
|
13 |
10299700 |
04/08/2011 |
500,000,000.00 |
UCO
BANK |
FLAGSHIP
CORPORATE BRANCH, 2, INDIA EXCHANGE PLACE, KOLKATA, WEST BENGAL - 700001,
INDIA |
B17886078 |
|
14 |
10283789 |
18/04/2011 |
7,600,000.00 |
L
& T FINANCE LIMITED |
L&T
HOUSE, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA |
B11997459 |
|
15 |
10285524 |
26/03/2011 |
500,000,000.00 |
ALLAHABAD
BANK |
RED
CROSS PLACE BRANCH, 7, RED CROSS PLACE, KOLKA |
B12524625 |
|
16 |
10275446 |
02/03/2011 |
500,000,000.00 |
STATE
BANK OF TRAVANCORE |
LAKE
MARKET BRANCH,, 91, RASH BEHARI AVENUE, KOLKATA, WEST BENGAL - 700026, INDIA |
B09004797 |
|
17 |
10259095 |
08/01/2011 |
320,000,000.00 |
UCO
BANK |
FLAGSHIP
CORPORATE BRANCH, 2, INDIA EXCHANGE PLACE,, KOLKATA, WEST BENGAL - 700001,
INDIA |
B02950343 |
|
18 |
10227819 |
08/06/2010 |
670,000,000.00 |
ALLAHABAD
BANK |
RED
CROSS PLACE BRANCH, 7, RED CROSS PLACE, KOLKATA, WEST BENGAL - 700001, INDIA |
A89325872 |
|
19 |
10223495 |
13/05/2010 |
300,000,000.00 |
CANARA
BANK |
SHAKESPEARE
SARANI BRANCH, 21 CAMAC STREET, KOLKATA, WEST BENGAL - 700016, INDIA |
A86554128 |
|
20 |
10225108 |
10/05/2010 |
1,400,000,000.00 |
UNITED
BANK OF INDIA |
OLD
COURT HOUSE STREET BRANCH, 11, HEMANTA BASU SARANI, KOLKATA, WEST BENGAL -
700001, INDIA |
A87794269 |
|
21 |
10221132 |
13/04/2010 |
300,000,000.00 |
ALLAHABAD
BANK |
RED
CROSS PLACE BRANCH, 7, RED CROSS PLACE, KOLKATA, WEST BENGAL - 700001, INDIA |
A85772143 |
|
22 |
10213805 |
30/03/2010 |
600,000,000.00 |
UCO
BANK |
MID CORPORATE
BRANCH, 2, INDIA EXCHANGE PLACE, KOLKATA, WEST BENGAL - 700001, INDIA |
A83626515 |
|
23 |
10202075 |
28/03/2013
* |
1,220,000,000.00 |
STATE
BANK OF HYDERABAD |
PARK
STREET BRANCH, PODDAR POINT (1ST FLOOR),, 113, PARK STREET,, KOLKATA, WEST BENGAL
- 700016, INDIA |
B74545716 |
|
24 |
10177030 |
12/08/2009 |
750,000,000.00 |
STATE
BANK OF INDIA |
COMMERCIAL
BRANCH, N. S. ROAD, 8, N. S. ROAD, KOLKATA, WEST BENGAL - 700001, INDIA |
A70392345 |
|
25 |
10102778 |
26/03/2008 |
195,300,000.00 |
STATE
BANK OF HYDERABAD |
PARK
STREET BRANCH, PODDAR POINT, 113 PARK STREET, KOLKATA, WEST BENGAL - 700016,
INDIA |
A37424637 |
|
26 |
10082062 |
25/07/2013
* |
12,565,000,000.00 |
STATE
BANK OF INDIA (LEAD BANK) |
INDUSTRIAL
FINANCE BRANCH, KOLKATA, 11, DR. U. N. BRAHMACHARI STREET, KOLKATA, WEST
BENGAL - 700017, INDIA |
B80724693 |
|
27 |
80048302 |
26/11/2005 |
300,000,000.00 |
STATE
BANK OF TRAVANCORE |
LAKE
MARKET BRANCH, 91, RASH BEHARI AVENUE, KOLKATA, WEST BENGAL - 700026, INDIA |
- |
|
28 |
80048303 |
02/03/2011
* |
1,050,000,000.00 |
STATE
BANK OF TRAVANCORE |
LAKE
MARKET BRANCH,, 91, RASH BEHARI AVENUE, KOLKATA, WEST BENGAL - 700026, INDIA |
B09006388 |
|
29 |
90248897 |
31/03/2011
* |
600,000,000.00 |
STATE
BANK OF HYDERABAD |
PARK
STREET BRANCH, 113 PARK STREET, KOLKATA, WEST BENGAL - 700016, INDIA |
B11228384 |
|
30 |
80048314 |
18/08/2005 |
100,000,000.00 |
STATE
BANK OF TRAVANCORE |
LAKE
MARKET BRANCH, KOLKATA, WEST BENGAL - 700026, INDIA |
- |
|
31 |
90248888 |
17/05/2013
* |
3,372,900,000.00 |
UNITED
BANK OF INDIA |
CORPORATE
FINANCE BRANCH, KOLKATA, 11, HEMANTA BASU SARANI,, KOLKATA, WEST BENGAL -
700001, INDIA |
B77041796 |
|
32 |
90245997 |
30/03/2013
* |
6,336,300,000.00 |
STATE
BANK OF INDIA |
INDUSTRIAL
FINANCE BRANCH, KOLKATA, 11, DR. U. N. BRAHMACHARI STREET, KOLKATA, WEST
BENGAL - 700017, INDIA |
B74010836 |
* Date of charge modification
Financial and Operational Review
During the year the net sales/income
from operation increased from Rs.16773.000 Millions in FY 2011-12 to
Rs.22585.400 Millions in FY 2012-13 representing an increase of 34.65%. Profit
after tax for the year stood to Rs.555.300 Millions as compared to Rs.403.100
Millions in previous year registering a growth of 37.75%.
New Projects and Expansions
Jajpur Unit- Odisha
Captive Power Plant of 67.5 MW
The Directors of subject are pleased
to inform that the installation of the 67.5 MW Captive Power Plantatits Jajpur
unit is in progress. The basic engineering, civil work and structural
fabrication has progressed significantly. All major equipment’s having long
lead time has been received at the site and erection work is under process.
33 MVA Furnace
The basic engineering, civil and
fabrication work of 33 MVA Arc Furnace at Jajpur unit is under progress. The
Company has placed order for all major Plant & Machineries and the delivery
of the Plant and Machineries are as per Schedule.
Coal Mines
Subject has acquired 60% equity
stake in a coking coal mine in Indonesia owned by M/s. PT Bara Prima Mandiri
through its Subsidiary M/s. SKP Overseas Pte. Ltd., Singapore. The mine located
in Central Kalimantan province of Indonesia has an estimated coking coal
reserve of 10MN Tonnes.
Subject is also having 60% economic
interest in thermal coal mine in Indonesia owned by M/s. PT Palopo Indah Raya
through its aforesaid Subsidiary. The mine located in Central Kalimantan
Province of Indonesia has an estimated thermal coal reserves of 20MN Tonnes.
Awards & Achievements
During the year subject was awarded
for Export Excellence by EEPC INDIA for star performance in 2010-2011 in Ferro
Alloy Segment (Eastern Region).
FIXED ASSETS:
· Factory Shed and Building
·
· Guest House
· Plant and Machinery
· Electrical Installments
· Tools and Equipments
· Air Conditioners
· Office Equipments
· Computers
· Motors Cars
· Furniture and Fixtures
STATEMENT OF STANDALONE UNAUDITED
FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31.12.2013
(Rs. In Millions)
|
Particulars |
Three Months ended |
Proceeding Three Months ended |
Nine Months ended |
|
|
31.12.2013 (Unaudited) |
30.09.2013 (Unaudited) |
31.12.2013 (Unaudited) |
|
1.
Income from operations |
|
|
|
|
a) Net sales/ Income from operation (net of excise duty) |
5053.900 |
7089.200 |
17869.800 |
|
b) Other operating income |
73.200 |
124.700 |
318.900 |
|
Total
income from Operations(net) |
5127.100 |
7213.800 |
18188.700 |
|
2.Expenditure |
|
|
|
|
a) Cost of material consumed |
2919.200 |
3786.000 |
9619.100 |
|
b) Purchases of stock in trade |
555.000 |
1827.400 |
2858.000 |
|
c) Changes in inventories of finished goods,
work-in-progress and stock-in-trade |
221.200 |
63.200 |
86.800 |
|
d) Employees benefit expenses |
64.900 |
57.800 |
180.800 |
|
e) Depreciation and amortization expenses |
75.800 |
76.000 |
226.600 |
|
f) Power |
1054.500 |
1225.300 |
3542.800 |
|
g) Other expenditure |
667.000 |
655.200 |
2110.800 |
|
Total expenses |
5557.700 |
7690.800 |
18624.900 |
|
3. Profit from operations before other income and
financial costs |
(430.600) |
(476.900) |
(236.200) |
|
4. Other income |
24.200 |
20.500 |
73.900 |
|
5. Profit from ordinary activities before finance costs |
(406.400) |
(456.400) |
(362.300) |
|
6. Finance costs |
457.200 |
417.900 |
1282.800 |
|
7. Net profit/(loss) from ordinary activities
after finance costs but before exceptional items |
(863.600) |
(874.300) |
(1645.100) |
|
8. Exceptional item |
-- |
-- |
-- |
|
9. Profit from ordinary activities before tax
Expense: |
(863.600) |
(874.300) |
(1645.100) |
|
10.Tax expenses |
(295.200) |
(270.000) |
(534.500) |
|
11.Net
Profit / (Loss) from ordinary activities after tax (9-10) |
(568.300) |
(604.200) |
(1110.700) |
|
12.Extraordinary Items (net of tax expense) |
-- |
-- |
-- |
|
13.Net Profit / (Loss) for the period (11 -12) |
(568.300) |
(604.200) |
(1110.700) |
|
14.Paid-up
equity share capital (Nominal value Rs.10/- per share) |
1137.800 |
1137.800 |
1137.800 |
|
15. Reserve excluding
Revaluation Reserves as per balance sheet of previous accounting year |
-- |
-- |
-- |
|
16.i) Earnings per share (before extraordinary
items) of Rs.10/- each) (not annualised): |
|
|
|
|
(a) Basic and diluted |
(5.00) |
(5.31) |
(9.76) |
|
ii) Earnings per share (after extraordinary items) |
|
|
|
|
(a) Basic and diluted |
(5.00) |
(5.31) |
(9.76) |
|
A. Particulars of shareholding |
31.12.2013 |
30.09.2013 |
31.12.2013 |
|
1. Public Shareholding |
|
|
|
|
- Number of shares |
31858281 |
31858281 |
31858281 |
|
- Percentage of shareholding |
28.00% |
28.00% |
28.00% |
|
2. Promoters and Promoters group Shareholding- |
|
|
|
|
a) Pledged /Encumbered |
|
|
|
|
Number of shares |
-- |
-- |
-- |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
-- |
-- |
-- |
|
Percentage of shares (as a % of total share capital of the
company) |
-- |
-- |
-- |
|
|
|
|
|
|
b) Non Encumbered |
|
|
|
|
Number of shares |
81917842 |
81917842 |
81917842 |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
100.00% |
100.00% |
100.00% |
|
|
|
|
|
|
Percentage of shares (as a % of total share capital of the
company) |
72.00% |
72.00% |
72.00% |
|
B.
Investor Complaints |
Three Months Ended 31.12.2013 |
|
Pending at the beginning of the quarter |
Nil |
|
Receiving during the quarter |
-- |
|
Disposed of during the quarter |
-- |
|
Remaining unreserved at the end of the quarter |
Nil |
UNAUDITED SEGMENT
WIE REVENUE, RESULTS AND CAPITAL EMPLOYED
(Rs. In
Millions)
|
Particulars |
Three
Months ended |
Proceeding
Three Months ended |
Nine
Months ended |
|
|
31.12.2013 (Unaudited) |
30.09.2013 (Unaudited) |
31.12.2013 (Unaudited) |
|
1.
Segment Revenue |
|
|
|
|
a. Ferro Alloys |
3488.900 |
3861.100 |
11522.900 |
|
b. Iron and Steel |
2012.100 |
3655.800 |
7705.200 |
|
Total |
5501.100 |
7516.900 |
19228.000 |
|
Less : Inter Segment Revenue |
374.000 |
303.100 |
1039.300 |
|
Net
Sales |
5127.100 |
7213.800 |
18188.700 |
|
|
|
|
|
|
2.
Segment Result (Profit
before Interest and Tax) |
|
|
|
|
a. Ferro Alloys |
(349.500) |
(551.400) |
(596.900) |
|
b. Iron and Steel |
(61.900) |
94.900 |
229.400 |
|
c. Un-allocated |
5.000 |
0.100 |
5.200 |
|
Total |
(406.400) |
(456.400) |
(362.300) |
|
|
|
|
|
|
Less
: (i) Interest |
457.200 |
417.900 |
1282.800 |
|
Profit
before Tax |
(863.600) |
(874.300) |
(1645.100) |
|
|
|
|
|
|
3.
Capital Employed |
|
|
|
|
a. Ferro Alloys |
21012.500 |
19168.000 |
21012.500 |
|
b. Iron and Steel |
3315.100 |
3224.800 |
3315.100 |
|
c. Un-allocated |
884.800 |
577.500 |
884.800 |
|
Total |
25212.400 |
22970.300 |
25212.400 |
NOTES:
1.
The above results have
been reviewed by the Audit Committee and approved by the Board of Directors at
its meeting held on February 14, 2014.
2.
The Auditors of the
Company have carried out the limited review of the above unaudited results.
3.
The Company is in the
process of setting up an additional Sub Merged Arc Furnace of 33MVA and a
Captive Power Plant at Its Jajpur Unit.
4.
The Company in
discussion with major secured lenders has initiated the process of Corporate
Debt Restructuring (CDR), as prescribed under the Reserve Bank of India (RBI)
Guidelines, by way of reference to CDR Cell on December 9, 2013, The Company's
proposal for restructuring has since been admitted at the meeting of CDR
Empowered Group (EG) held on January 24, 2014, The broad framework of the
package is being discussed with the bankers and the final package is expected
to be finalised and placed before the CDR Cell during March 2014.
5.
PT Bara Prima Mandiri
(BPM) having a Coking Coal mine located In Indonesia owned by the Company
through its wholly owned subsidiary M/s. SKP Overseas Pte Ltd., Singapore has
started commercial sales on November 19, 2013.
6.
The EPS for the
respective periods has been calculated based on weighted average number of
equity shares.
7.
The figures of the
previous year/ period have been regrouped/ reclassified, wherever considered
necessary.
CMT REPORT (Corruption, Money Laundering
& Terrorism]
The Public Notice
information has been collected from various sources including but not limited
to: The Courts, India Prisons Service, Interpol, etc.
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.59.08 |
|
UK Pound |
1 |
Rs.99.20 |
|
Euro |
1 |
Rs.80.53 |
INFORMATION DETAILS
|
Information Gathered
by : |
HTL |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
36 |
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.