MIRA INFORM REPORT

 

 

Report Date :

20.11.2014

 

IDENTIFICATION DETAILS

 

Name :

RAHEE INFRATECH LIMITED

 

 

Registered Office :

4, Ho Chi Min Sarani, Flat No. 1C, First Floor, Kolkata – 700071, West Bengal

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

30.01.1996

 

 

Com. Reg. No.:

21-076870

 

 

Capital Investment / Paid-up Capital :

Rs.58.723 Million

 

 

CIN No.:

[Company Identification No.]

U67120WB1996PLC076870

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Manufacturer, Exporter and Supplier of metal, iron and steel product.

 

 

No. of Employees :

Information declined by the management.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (43)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 1800000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having satisfactory track record.

 

General financial position of the company seems to be sound and healthy. Profitability of the company is fair.

 

Trade relations are fair. Business is active. Payment terms are reported to be usually correct.

 

The company can be considered for business dealings at usual trade terms and condition.

 

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 – June 1, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

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

 

N E W S

 

Verdict Implications : Apex court order may alter coal import dynamics. Traders go slow on talks over coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.

                                                                                                     

Recent arrest of the Chennai head of the Registrar of Companies, the ministry of corporate affairs arm that ensures that companies file all the information required by the Companies Act is the latest manifestation of a messy fight between a father and his adopted son for the control of Rs 40000 mn business empire. The Central Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10 lakhs as bribe from M A M Ramaswamy, a CBI official said.

 

Central Bureau of Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.

 

Infosys maintains revenue guidance. COO Rao says attrition still an area of concern and it would take a few more quarters to bring down levels to 13-15 %.

 

DHL  to invest Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its e-commerce business model for the Asia-Pacific region.

 

Blackstone may buy stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.

 

Kingfisher Airlines Ltd grounded in October 2012 under the weight of heavy debt and accumulated losses, recently approached the Delhi high court for relief in two separate cases. The airline challenged a notice by Punjab & National Bank alleging that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to comply with the requirements under the listing agreements with the Stock Exchanges.

 

OnMobile likely to sack another 300 employees. The lay-offs follow a spate of senior-level exits over the past two years, starting with of its founder. The overall lay-offs could number around 600 and are driven by the need to cut costs, says a former employee.

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

ICRA

Rating

Fund based working capital facilities = BB- (Suspended)

Rating Explanation

Inadequate credit quality and high credit risk

Date

October, 2013

 

Reason for suspension absence of requisite information

 

 

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 31-03-2014.

 

 

INFORMATION DENIED BY

 

Name :

Mr. Shashikant

Designation :

Account Manager

Contact No.:

91-33-26683533

Date :

17.11.2014

 

 

LOCATIONS

 

Registered Office :

4, Ho Chi Min Sarani, Flat No. 1C, First Floor, Kolkata – 700071, West Bengal, India

Tel. No.:

91-33-26683533 / 34

Fax No.:

91-33-26684727

E-Mail :

pooja.a@rahee.com

Website :

www.rahee.com

 

 

Corporate Office :

107, Lakhinaryan Talla Road, Shalimar, Howrah, West Bengal, India

Tel. No.:

91-33-26683533 / 34

Fax No.:

91-33-26684727

 

 

Branch Office :

B-108, 2nd Floor, Sec-63, Dist – Gautam Budh Nagar, Noida – 201301, India

Tel. No.:

91-120-4217594

 

 

DIRECTORS

 

As On 30.09.2013

 

Name :

Pradeep Kumar Khaitan

Designation :

Managing Director

Address :

84 / S / D, D H Road, 2nd Floor, Block E, Kolkata – 700053, West Bengal, India

Date of Birth/Age :

01.09.1962

Date of Appointment :

01.04.2011

DIN No.:

00179108

Other Directorship :

 

S.

No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

 

U51909WB1984PTC038017

FAST DEAL (INDIA) PVT LTD

Director

27/09/1984

27/09/1984

-

Amalgamated

NO

2

U74140WB1985PTC039277

RAHEE INTERNATIONAL PVT LTD

Director

26/07/1985

26/07/1985

-

Amalgamated

NO

3

U27109WB1991PLC052719

RAHEE FASTENING LTD

Director

14/08/1991

14/08/1991

-

Amalgamated

NO

4

U67120WB1996PLC076870

RAHEE INFRATECH LIMITED

Managing director

01/04/2011

30/01/1996

-

Active

NO

5

U51909WB1996PTC077436

LOKARPAN VINIMAY PVT LTD

Director

01/03/2000

01/03/2000

-

Amalgamated

NO

6

U70200WB2001PTC093434

MOON STONE ENTERPRISES PRIVATE LIMITED

Director

28/05/2001

28/05/2001

-

Active

NO

7

U63090WB1984PTC037975

FAIR DEAL (INDIA) PVT LTD

Director

30/07/2001

30/07/2001

-

Amalgamated

NO

8

U27109WB1991PTC052431

AAR-KAY TRACK FASTENING PVT. LTD.

Director

23/08/2001

23/08/2001

-

Amalgamated

NO

9

U27106WB2002PTC094232

RAHEE TRACK TECHNOLOGIES PRIVATE LIMITED

Director

02/05/2012

15/02/2002

-

Active

NO

10

U45201WB2002PTC094739

RAHEE ROAD SAFETY SYSTEMS PRIVATE LIMITED

Director

12/06/2002

12/06/2002

-

Strike off

NO

11

U28991WB2004PTC100639

PANDROL RAHEE TECHNOLOGIES PRIVATE LTD

Managing director

01/04/2010

08/12/2004

-

Active

NO

12

U51109WB1991PTC051874

MRIDUL COMMODITIES PVT LTD

Director

18/05/2005

18/05/2005

-

Active

NO

13

U45201WB2002PTC094710

DAFFODIL PROJECTS PRIVATE LIMITED

Director

10/02/2006

10/02/2006

-

Active

NO

14

U25190WB1994PTC202570

PUNIT ELASTOMERS PRIVATE LIMITED

Director

01/12/2007

01/12/2007

-

Active

NO

15

U51900WB2001PTC093329

SNOW WHITE ENTERPRISES PRIVATE LIMITED

Director

26/02/2008

26/02/2008

11/08/2011

Active

NO

16

U51109WB2008PLC128368

RAHEE VINIYOG LIMITED

Director

08/08/2008

08/08/2008

-

Active

NO

17

U28910WB2012PTC178577

SERPENTINE WELDTECH ENGINEERING PRIVATE LIMITED

Director

29/03/2012

29/03/2012

-

Active

NO

18

U74900WB2013PTC194437

KALIMATA RAILWAY TRACK MATERIALS PRIVATE LIMITED

Director

10/06/2013

10/06/2013

-

Amalgamated

NO

 

 

Name :

Ravi Kumar Khaitan

Designation :

Director

Address :

84 / S / D, D H Road, Flat No.4, 3nd Floor, Block K, Kolkata – 700053, West Bengal, India

Date of Birth/Age :

11.09.1965

Date of Appointment :

30.01.1996

DIN No.:

00179329

Other Directorship :

 

S.

No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U27103WB1968PTC027223

SHALIMAR ROLLING MILLS PVT LTD.

Director

22/02/1984

22/02/1984

-

Amalgamated

NO

2

U63090WB1984PTC037976

SHALIMAR REALTORS PVT LTD

Director

20/09/1984

20/09/1984

-

Amalgamated

NO

3

U63090WB1984PTC037975

FAIR DEAL (INDIA) PVT LTD

Director

20/09/1984

20/09/1984

-

Amalgamated

NO

4

U74140WB1985PTC039277

RAHEE INTERNATIONAL PVT LTD

Director

26/07/1985

26/07/1985

-

Amalgamated

NO

5

U27109WB1991PTC052720

PEEKAY FASTENING PVT LTD

Director

14/08/1991

14/08/1991

-

Amalgamated

NO

6

U67120WB1996PLC076870

RAHEE INFRATECH LIMITED

Director

30/01/1996

30/01/1996

-

Active

NO

7

U45201WB1991PTC052974

LANSDOWN ENCLAVE PVT LTD

Director

08/08/1997

08/08/1997

-

Active

NO

8

U27109WB1991PLC052719

RAHEE FASTENING LTD

Director

17/01/2000

17/01/2000

-

Amalgamated

NO

9

U51909WB1996PTC077760

MODERN SHAPE VINIMAY PVT LTD

Director

01/02/2000

01/02/2000

-

Amalgamated

NO

10

U51909WB1996PTC077436

LOKARPAN VINIMAY PVT LTD

Director

01/03/2000

01/03/2000

-

Amalgamated

NO

11

U51909WB1995PTC070256

DINGO TRADING & SERVICES PVT.LTD.

Director

09/05/2001

09/05/2001

-

Strike off

NO

12

U70200WB2001PTC093434

MOON STONE ENTERPRISES PRIVATE LIMITED

Director

28/05/2001

28/05/2001

05/06/2007

Active

NO

13

U27106WB2002PTC094232

RAHEE TRACK TECHNOLOGIES PRIVATE LIMITED

Director

15/02/2002

15/02/2002

03/06/2009

Active

NO

14

U45201WB2002PTC094739

RAHEE ROAD SAFETY SYSTEMS PRIVATE LIMITED

Director

12/06/2002

12/06/2002

-

Strike off

NO

15

U28991WB2004PTC100639

PANDROL RAHEE TECHNOLOGIES PRIVATE LTD

Director

08/12/2004

08/12/2004

-

Active

NO

16

U70109WB2001PTC093314

AYUSH ENTERPRISES PRIVATE LIMITED

Director

18/08/2007

10/07/2007

12/09/2007

Active

NO

17

U70109WB2001PLC093295

BENGAL DAFFODIL INFRATECH LIMITED

Director

19/07/2007

19/07/2007

17/06/2010

Active

NO

18

U51109WB1991PTC051874

MRIDUL COMMODITIES PVT LTD

Director

01/10/2007

01/10/2007

-

Active

NO

19

U25190WB1994PTC202570

PUNIT ELASTOMERS PRIVATE LIMITED

Director

01/12/2007

01/12/2007

-

Active

NO

20

U70101WB1993PTC057475

LORD APARTMENTS PVT LTD

Director

26/02/2008

26/02/2008

29/07/2011

Active

NO

21

U27100WB2008PTC125154

SHALIMAR FABRICATORS PRIVATE LIMITED

Director

24/04/2008

24/04/2008

20/02/2010

Active

NO

22

U51109WB2008PLC128368

RAHEE VINIYOG LIMITED

Director

08/08/2008

08/08/2008

-

Active

NO

23

U70109WB1993PTC057607

DAISY APARTMENTS PVT LTD

Director

15/11/2008

15/11/2008

29/07/2011

Active

NO

24

U28910WB2012PTC178577

SERPENTINE WELDTECH ENGINEERING PRIVATE LIMITED

Director

29/03/2012

29/03/2012

-

Active

NO

25

U74900WB2013PTC194437

KALIMATA RAILWAY TRACK MATERIALS PRIVATE LIMITED

Director

10/06/2013

10/06/2013

-

Amalgamated

NO

 

 

Name :

Pawan Kumar Khaitan

Designation :

Director

Address :

84 S/D, Block E, New Alipore, Kolkata – 700053, West Bengal, India

Date of Birth/Age :

24.07.1960

Date of Appointment :

20.06.2005

DIN No.:

00201473

Other Directorship :

 

S.

No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U67120WB1975PLC030114

DHAKALIA INVESTMENTS LTD

Director

27/05/1996

27/05/1996

-

Active

NO

2

U27109WB1991PTC052720

PEEKAY FASTENING PVT LTD

Director

20/07/1997

20/07/1997

-

Amalgamated

NO

3

U51909WB1996PTC077760

MODERN SHAPE VINIMAY PVT LTD

Director

01/02/2000

01/02/2000

-

Amalgamated

NO

4

U27109WB1991PTC052431

AAR-KAY TRACK FASTENING PVT. LTD.

Director

23/08/2001

23/08/2001

-

Amalgamated

NO

5

U51909WB1984PTC038017

FAST DEAL (INDIA) PVT LTD

Director

18/02/2002

18/02/2002

-

Amalgamated

NO

6

U27106WB2002PTC094232

RAHEE TRACK TECHNOLOGIES PRIVATE LIMITED

Managing director

02/05/2012

18/02/2002

-

Active

NO

7

U67120WB1996PLC076870

RAHEE INFRATECH LIMITED

Director

20/06/2005

20/06/2005

-

Active

NO

8

U70109WB2001PLC093295

BENGAL DAFFODIL INFRATECH LIMITED

Director

19/07/2007

19/07/2007

23/12/2009

Active

NO

9

U70109WB2001PTC093314

AYUSH ENTERPRISES PRIVATE LIMITED

Director

12/09/2007

12/09/2007

21/11/2011

Active

NO

10

U70101WB1993PTC057474

DUKE APARTMENTS PVT LTD

Director

17/10/2007

17/10/2007

11/08/2011

Active

NO

11

U70109WB2001PTC093304

WHITE STONE ENTERPRISES PRIVATE LIMITED

Director

05/07/2008

05/07/2008

-

Active

NO

12

U51109WB1991PTC051874

MRIDUL COMMODITIES PVT LTD

Director

24/07/2008

24/07/2008

-

Active

NO

13

U51109WB2008PLC128368

RAHEE VINIYOG LIMITED

Director

08/08/2008

08/08/2008

-

Active

NO

14

U28910WB2012PTC178577

SERPENTINE WELDTECH ENGINEERING PRIVATE LIMITED

Director

29/03/2012

29/03/2012

-

Active

NO

15

U74900WB2013PTC194437

KALIMATA RAILWAY TRACK MATERIALS PRIVATE LIMITED

Director

10/06/2013

10/06/2013

-

Amalgamated

NO

 

 

KEY EXECUTIVES

 

Name :

Ram Awatar Malchandka

Designation :

Secretary

Address :

73, N S Road, Kolkata – 700001, West Bengal, India

Date of Birth/Age :

02.11.1950

Date of Appointment :

20.03.1996

PAN No.:

AHCPM2490F

 

 

Name :

Mr. Shashikant

Designation :

Account Manager

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.09.2013

 

Names of Shareholders

No. of Shares

Pradeep Khaitan

369804

Ravi Khaitan

179050

Savita Devi Khaitan

162372

Munia Devi Khaitan

110030

Sashi Khaitan

62971

Nandu Khaitan

12286

Loknath Khaitan / SD Khaitan

21857

Pawan Kumar Khaitan (HUF)

10229

Pradeep Kumar Khaitan (HUF)

147029

Rahul Khaitan

131529

Nehal Khaitan

18900

Aayush Khaitan

17800

Ishwari Prasad Khaitan Family Trust

28158

Prerna Khaitan

1929

U. Khaitan

4929

Pawan Kumar Khaitan

8713

M/s Mridul Commodities Private Limited, India

2786299

M/s Rahee Viniyog Limited, India

1798465

Total

5872350

 

As on 30.09.2013

 

Equity Share Break up (Percentage of Total Equity)

 

Category

Percentage of Holding

Directors or relatives of Directors

100.00

Total

100.00

 

As on 31.03.2014

 

Names of Allottee

No. of Shares allotted

Mridul Commodities Private limited, India

306250

Rahee Viniyog Limited

171325

Pawan Kumar Khaitan

30000

Ravi Kumar Khaitan

77500

Total

585075

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer, Exporter and Supplier of metal, iron and steel product.

 

 

Products :

Item Code No. (ITC Code)

Product Description

73081000

Bridges and Bridges Sections

73029010

Rail Fixing and Fastening Devises

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Available

 

 

Imports :

Not Available

 

 

Terms :

Not Available

 

PRODUCTION STATUS = Not Available

 

 

GENERAL INFORMATION

 

Suppliers :

Not Divulged

 

 

Customers :

Not Divulged

 

 

No. of Employees :

Information declined by the management.

 

 

Bankers :

Banker Name

Allahabad Bank

Branch Address

119, Park Street, Kolkata

Person Name (With Designation)

Mr. Jaiswal

Contact Number

91-33-22297692

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

As Claimed by Mr. Jaiswal that they don’t have account in this bank.

 

Banker Name

ICICI Bank Limited

Branch Address

3A, Gurusaday Road, 2nd Floor, Kolkata-700019, West Bengal, India

Person Name (With Designation)

Not Divulged

Contact Number

 

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

SECURED LOANS

31.03.2013

(Rs. in Millions)

31.03.2012

(Rs. in Millions)

LONG TERM BORROWINGS

 

 

Rupee term loans from banks

56.981

36.945

Rupee term loans from others

51.845

30.156

SHORT TERM BORROWINGS

 

 

Loans repayable on demand from banks

566.596

420.466

Total

675.422

487.567

 

Auditors :

 

Name :

R. Kothari and Company

Chartered Accountants

Address :

16 A, Shakespeare Sarani, Kolkata – 700071, West Bengal, India

PAN No.:

AAFFR7366B

 

 

Memberships :

---

 

 

Collaborators :

---

 

 

Joint venture :

·         Rahee Track Technologies Private Limited

·         Mridul Commodities Private Limited

·         Rahee Viniyog Limited

·         Pandrol Rahee Technologies Private Limited

·         Rahee - GPT -JV

·         GPT - Rahee- JV

·         Rahee GPT (NFR) JV

·         Rahee GPT (IB) JV

·         Rahee Allied Nervi JV

·         Rahee Triveni JV

·         Rail Welders - JV

·         Serpentine Weldtech Engineering Private Limited

 

 

CAPITAL STRUCTURE

 

As on 31.03.2013

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

11000000

Equity Shares

Rs.10/-each

Rs.110.000 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

5872350

Equity Shares

Rs.10/-each

Rs.58.723 Million

 

 

As on 30.09.2013

 

Authorised Capital: Rs.110.000 Million

 

Issued, Subscribed & Paid-up Capital : Rs.64.574 Million

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

58.723

58.723

55.863

(b) Reserves & Surplus

584.315

493.276

408.508

(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)

643.038

551.999

464.371

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

108.826

67.101

33.428

(b) Deferred tax liabilities (Net)

41.255

32.248

16.408

(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)

150.082

99.349

49.836

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

766.752

685.944

616.718

(b) Trade payables

452.488

380.002

240.761

(c) Other current liabilities

693.625

509.774

303.913

(d) Short-term provisions

84.652

68.360

58.275

Total Current Liabilities (4)

1997.517

1644.081

1219.667

 

 

 

 

TOTAL

2790.636

2295.428

1733.874

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

738.331

582.094

435.207

(ii) Intangible Assets

18.065

0.165

0.237

(iii) Capital work-in-progress

45.806

37.823

24.482

(iv) Intangible assets under development

5.925

4.394

0.000

(b) Non-current Investments

96.969

88.755

31.360

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

11.238

10.252

99.783

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

916.335

723.483

591.069

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

1.463

9.371

0.838

(b) Inventories

236.520

131.060

171.995

(c) Trade receivables

565.101

608.814

444.650

(d) Cash and cash equivalents

182.559

170.589

108.479

(e) Short-term loans and advances

520.279

381.670

261.476

(f) Other current assets

368.380

270.441

155.367

Total Current Assets

1874.302

1571.946

1142.805

 

 

 

 

TOTAL

2790.636

2295.428

1733.874

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2013

31.03.2012

31.03.2011

 

SALES

 

 

 

 

Income

2159.297

2190.991

1512.626

 

Other Income

31.854

38.940

26.849

 

TOTAL

2191.151

2229.931

1539.475

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

569.711

714.134

665.803

 

Purchases of Stock-in-Trade

29.971

60.195

25.433

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(35.090)

11.305

13.497

 

Employees benefits expense

111.463

90.130

72.875

 

Other expenses

1176.368

1060.466

537.741

 

TOTAL

1852.423

1936.230

1315.349

 

 

 

 

 

Less

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

338.728

293.701

224.126

 

 

 

 

 

Less

FINANCIAL EXPENSES

167.212

144.107

105.236

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

171.516

149.594

118.890

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

39.732

29.074

20.823

 

 

 

 

 

Less/ Add

Exceptional Items Before Tax

0.000

 0.000

(0.030)

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

131.784

120.520

98.037

 

 

 

 

 

Less

TAX

36.651

43.097

34.798

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

95.133

77.423

63.239

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

24.615

8.467

0.000

 

TOTAL EARNINGS

24.615

8.467

0.000

 

 

 

 

 

 

IMPORTS

 

 

 

 

Capital Goods

4.642

1.386

0.000

 

TOTAL IMPORTS

4.642

1.386

0.000

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

16.20

13.18

11.32

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2013

 

31.03.2012

 

31.03.2011

 

 

 

 

 

 

Net Profit Margin

PAT / Sales

(%)

4.34

 

3.47

 

4.11

 

 

 
 

 

 

Operating Profit Margin

(PBDIT/Sales)

(%)
15.68

13.40

14.81

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

4.99

 

5.57

 

5.84

 

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.20

 

0.22

 

0.21

 

 

 
 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 

1.36

 

1.36

 

1.40

 

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.94

 

0.96

 

0.94

 

 

 

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

55.863

58.723

58.723

Reserves & Surplus

408.508

493.276

584.315

Net worth

464.371

551.999

643.038

 

 

 

 

long-term borrowings

33.428

67.101

108.827

Short term borrowings

616.718

685.945

766.752

Total borrowings

650.146

753.046

875.579

Debt/Equity ratio

1.400

1.364

1.362

 

 

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

1512.626

2190.991

2159.297

 

 

44.847

(1.447)

 

 

 

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

1512.626

2190.991

2159.297

Profit

63.239

77.423

95.133

 

4.18%

3.53%

4.41%

 

 

 

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]

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

Note: The Registered office of the company has been shifted 45, Shakespeare Sarani, Kolkata-700017, West Bengal, India to the present address w.e.f. 01.01.2011.

 

 

INDEX OF CHARGES

 

S.

No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10456867

20/09/2013

1,350,000,000.00

ALLAHABAD BANK

119, PARK STREET, KOLKATA, West Bengal - 700016, INDIA

B88113907

2

10425705

24/04/2013

411,000.00

L & T FINANCE LIMITED

L&T HOUSE,, BALLARD ESTATE,, MUMBAI, Maharashtra 
- 400001, INDIA

B75132613

3

10425702

24/04/2013

1,483,000.00

L & T FINANCE LIMITED

L&T HOUSE,, BALLARD ESTATE,, MUMBAI, Maharashtra 
- 400001, INDIA

B75132498

4

10425701

24/04/2013

3,138,000.00

L & T FINANCE LIMITED

L&T HOUSE,, BALLARD ESTATE,, MUMBAI, Maharashtra 
- 400001, INDIA

B75132340

5

10425069

24/04/2013

20,000,000.00

L & T FINANCE LIMITED

L&T HOUSE,, BALLARD ESTATE,, MUMBAI, Maharashtra 
- 400001, INDIA

B74919960

6

10425075

24/04/2013

42,685,000.00

L & T FINANCE LIMITED

L&T HOUSE,, BALLARD ESTATE,, MUMBAI, Maharashtra 
- 400001, INDIA

B74921099

7

10406960

22/03/2013 *

12,995,770.00

YES BANK LIMITED

9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,, DR. 
ANNIE BESANT ROAD, WORLI,, MUMBAI, Maharashtra - 400018, INDIA

B74581992

8

10401504

21/12/2012

561,000.00

Axis Bank Limited

RAC - Kolkata, Loards Building, 1st Floor, 7/1 Lord Sinha Road, Kolkata, West Bengal - 700071, INDIA

B67448100

9

10401675

21/12/2012

758,000.00

Axis Bank Limited

RAC - Kolkata, Loards Building, 1st Floor, 7/1 Lord Sinha Road, Kolkata, West Bengal - 700071, INDIA

B67448753

10

10401505

21/12/2012

787,998.00

Axis Bank Limited

RAC - Kolkata, Loards Building, 1st Floor, 7/1 Lord Sinha Road, Kolkata, West Bengal - 700071, INDIA

B67448472

 

 

UNSECURED LOANS

 

PARTICULAR

31.03.2013

(Rs. in Millions)

31.03.2012

(Rs. in Millions)

SHORT TERM BORROWINGS

 

 

Other loans and advances

200.156

265.478

Total

200.156

265.478

 

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.61.82

UK Pound

1

Rs.96.55

Euro

1

Rs.77.42

 

 

INFORMATION DETAILS

 

Information Gathered by :

SVA

 

 

Analysis Done by :

KAR

 

 

Report Prepared by :

PNM

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILIRY

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

4

--RESERVES

1~10

5

--CREDIT LINES

1~10

4

--MARGINS

-5~5

---

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

43

 

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

 

--

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.