MIRA
INFORM REPORT
|
Report Date : |
26.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
UTTAM GALVA METALLICS LIMITED |
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Registered
Office : |
502, Global Foyer Building, Sector-43, |
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Country : |
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Financials (as
on) : |
31.03.2014 (Profit and Loss Account) |
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Date of
Incorporation : |
13.09.2007 |
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Com. Reg. No.: |
05-037927 |
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Capital
Investment / Paid-up Capital : |
Rs. 7547.100 Millions |
|
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|
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CIN No.: [Company Identification
No.] |
U27200HR2007PLC037927 |
|
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|
PAN No.: [Permanent Account No.] |
AAACU9269Q |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Hot Metal/ Pig Iron. |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. There seems growth in the turnover. However, slight dip in the profit
of the company during F.Y. 2014. Trade relations are reported as fair. Business is active. Payment
terms are reported to be usually correct. The company can be considered normal for business dealings at usual
trade terms and conditions. Note: Balance Sheet
Statement for the year 2014 is not available. |
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 |
CARE |
|
Rating |
Long term bank facilities: “BBB” |
|
Rating Explanation |
Moderate degree of safety. It carry moderate
credit risk. |
|
Date |
23.09.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities: “A3” |
|
Rating Explanation |
Moderate degree of safety. It carry higher
credit risk. |
|
Date |
23.09.2013 |
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
31-03-2014.
INFORMATION DECLINED
MANAGEMENT NON-COOPERATIVE (Tel. No.: 91-22-66563500)
LOCATIONS
|
Registered Office : |
502, Global Foyer Building, Sector-43, Golf Course Road, Gurgaon –
122002, Haryana, India |
|
Tel. No.: |
91-22-66563626 |
|
Fax No.: |
91-22-23481831 |
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E-Mail : |
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Website : |
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Corporate Office : |
Uttam House, 69, P. D'Mello Road, Mumbai - 400009, Maharashtra, India |
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Tel. No.: |
91-22-66563500 |
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Fax No.: |
91-22-23485025 |
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E-Mail : |
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Factory : |
Located at: · Khopoli, Maharashtra, India |
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Branch Offices : |
Located at: · Ahmedabad Chennai Secunderabad Indore Pune New Delhi Bangalore |
DIRECTORS
As on 10.09.2014
|
Name : |
Mr. Rajinderkumar Uttamchand Miglani |
|
Designation : |
Director |
|
Address : |
21-B, Embassy Apartments, 46, Nepeansea Road, Mumbai – 400036,
Maharashtra, India |
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Date of Birth/Age : |
08.04.1946 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
13.09.2007 |
|
PAN No.: |
AABPM7288D |
|
DIN No.: |
00286788 |
|
|
|
|
Name : |
Mr. Anuj Rajinder Miglani |
|
Designation : |
Director |
|
Address : |
21-B, Embassy Apartments, 46, Nepeansea Road, Mumbai – 400036,
Maharashtra, India |
|
Date of Birth/Age : |
01.04.1974 |
|
Qualification : |
Graduate in Mechanical Engineering from the Imperial College of
Science and Technology, London |
|
Date of Appointment : |
13.09.2007 |
|
PAN No.: |
AABPM6332L |
|
DIN No.: |
00287097 |
|
|
|
|
Name : |
Mr. Ankit Rajinderkumar Miglani |
|
Designation : |
Director |
|
Address : |
21-B, Embassy
Apartments, 46, Nepeansea
Road, Mumbai – 400036, Maharashtra, India |
|
Date of Birth/Age : |
23.02.1979 |
|
Qualification : |
Graduate in
Economic with specialization in Finance from Wharton School, University of
Pennsylvania, Philadelphia, U.S.A. |
|
Date of Appointment : |
13.09.2007 |
|
PAN No.: |
AACPM1902D |
|
DIN No.: |
00444956 |
|
|
|
|
Name : |
Mr. Omprakash Premdutt Ahuja |
|
Designation : |
Whole-time director |
|
Address : |
C/o. R. K. Flour Mills, 557, Bhandara, Lakadganj, Nagpur – 440008,
Maharashtra, India |
|
Date of Birth/Age : |
30.12.1946 |
|
Qualification : |
Graduate in
Commerce |
|
Date of Appointment : |
05.05.2008 |
|
PAN No.: |
ACQPA5172M |
|
DIN No.: |
00320978 |
|
|
|
|
Name : |
Mr. Shirishkumar Trilokchandra Parikh |
|
Designation : |
Director |
|
Address : |
Prakruti Kunj Society, Bhudarpura B/H Vikram Flats, Ahmedabad –
380015, Gujarat, India |
|
Date of Birth/Age : |
22.10.1938 |
|
Qualification : |
B.E. (Civil) |
|
Date of Appointment : |
25.05.2013 |
|
DIN No.: |
00941756 |
|
|
|
|
Name : |
Mr. Debkumar Krishnapada Goswami |
|
Designation : |
Director |
|
Address : |
Flat No. 501, Vigyanshila CHS Limited, Juhu Versova Link Road, Seven
Bungalows, Andheri (West), Mumbai – 400061, Maharashtra, India |
|
Date of Birth/Age : |
10.12.1946 |
|
Qualification : |
Bachelor of Mechanical Engineering, Master of Business Administration, Certified Associates of Indian Institute of Banking and Finance (C.A.I.I.B) |
|
Date of Appointment : |
25.09.2013 |
|
DIN No.: |
02390068 |
|
|
|
|
Name : |
Mr. Shankar Ramakrishna |
|
Designation : |
Director |
|
Address : |
Building No. 7, Flat No. 1001, Seawoods Estate, Palm Beach Road, Nerul, Navi Mumbai – 400706, Maharashtra, India |
|
Date of Birth/Age : |
19.01.1960 |
|
Qualification : |
B. Tech (Metallurgical Engineering ) from BHUIT and Master of Applied Sciences (Metallurgical Engineering ) university of British Columbia Vancouver, Canada |
|
Date of Appointment : |
25.09.2013 |
|
DIN No.: |
02695900 |
|
|
|
|
Name : |
Mr. Mitin Chandanmal Jain |
|
Designation : |
Nominee Director |
|
Address : |
Gundecha Garden,
G-Wing, 6th Floor, Flat No. 602, Gas Company Lalbaug, Dattaram
Khamkar Road, Parel, Mumbai – 400012, Maharashtra, India |
|
Date of Birth/Age : |
01.03.1981 |
|
Qualification : |
Graduate in
Commerce, MBA - Finance from Narsee Monjee Institute of Management Studies |
|
Date of Appointment : |
18.02.2013 |
|
DIN No.: |
06390954 |
KEY EXECUTIVES
|
Name : |
Mr. Mukesh Kumar Jaisani |
|
Designation : |
Secretary |
|
Address : |
17/1, Sanghvi Bhavan, R. B. Marg, Ferbunder, Cotton Green, Mumbai -
400033, Maharashtra, India |
|
Date of Birth/Age : |
03.06.1965 |
|
Date of Appointment : |
30.01.2009 |
|
PAN No.: |
ABAPJ1506B |
|
|
|
|
Name : |
Sanjay K Sharma |
|
Designation : |
CFO |
|
Address : |
Flat No.C-403, Bellevista Building, Plot No. 46/47/48, Sector 15,
CBD-Belapur, Navi Mumbai – 400614, Maharashtra, India |
|
Date of Birth/Age : |
27.09.1961 |
|
Date of Appointment : |
19.07.2014 |
|
PAN No.: |
ADRPS2279P |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 10.09.2014
|
Names of Shareholders |
No. of Shares |
|
Rajinder Miglani |
20000 |
|
Anuj Miglani |
14980 |
|
Ankit Miglani |
14980 |
|
R Agrawal |
10 |
|
B. B. Handa |
10 |
|
Sunil Dodani |
10 |
|
Ram Gaud |
10 |
|
Liberty FE Trade DMCC, UAE |
91033379 |
|
Archisha Steel Private Limited, India |
111320000 |
|
Grow Well Mercantile Limited, India |
42579600 |
|
Revive Buildzone and Dealers Private Limited, India |
209817415 |
|
Prawas Leasing and Finance Private Limited, India |
45451935 |
|
Liberty Commodities Limited, United Kingdom |
20067670 |
|
Sanjeev Gupta |
4000000 |
|
Sanjeev Gupta (NR) |
1499500 |
|
Amit Bagadia |
100 |
|
Kanta Bagadia |
100 |
|
Narain Khatwani |
100 |
|
Ashwini S Kapoor |
100 |
|
Banyan Tree Growth Capital LLC, Mauritius |
500 |
|
Liberty Steel Holdings Pte. Limited, Singapore |
82881008 |
|
UD Industrial Holdings Pte. Limited, Singapore |
143711983 |
|
DEG – Deutsche Investitions – und Enwicklungsgesellschaft MBH, Germany |
500 |
|
Total |
752413890 |
|
Names of Preference Shareholders |
No. of Shares |
|
Banyan Tree Growth Capital LLC, Mauritius |
77311742 |
|
Banyan Tree Growth Capital II LLC, Mauritius |
68693488 |
|
DEG – Deutsche Investitions – und Enwicklungsgesellschaft MBH, Germany |
100000000 |
|
Total |
246005230 |
As on 10.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
45.08 |
|
Bodies corporate |
54.38 |
|
Directors or relatives of Directors |
0.01 |
|
Other top fifty shareholders |
0.53 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Hot Metal/ Pig Iron. |
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Products : |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
· Oriental Bank of Commerce, 181-A, Maker Tower 'E', 18th Floor, Cuff Parade, Mumbai - 400005, Maharashtra, India · State Bank of India, Commercial Branch, N. G. N. Vaidya Marg, Horniman Circle, Fort, Mumbai - 400001, Maharashtra, India · United Bank of India, Corporate Finance Branch, 2nd Floor, United Bank of India Building, Sr. P. M. Road Fort, Mumbai - 400001, Maharashtra, India · IDBI Bank Limited, IDBI Tower, WTC Complex, Cuffe Parade, Mumbai - 400005, Maharashtra, India · Vijaya Bank, Corporate Banking Branch, Mekar Chamber Iv, 222, Nariman Point, Mumbai - 400021, Maharashtra, India · South Indian Bank Limited, Ground Floor, Todkar Garden, Bibwewadi- Kondhwa Road, Bibwewadi, Pune, Maharashtra - 411037, India |
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Facilities : |
NOTE SHORT TERM BORROWINGS Working Capital Loans from Banks are secured by First charge on all
Tangible, Moveable assets such as Raw Material, WIP, Finished Goods, Stock in
Transit and Book Debts etc. and the Second charge on fixed assets of the
Company. |
|
Banking Relations
: |
-- |
|
|
|
|
Financial Institution : |
SBICAP Trustee Company Limited, 202, Maker Tower, 'E', Cuffe Parade, Colaba, Mumbai - 400005, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
Prakkash Muni and Associates Chartered Accountants |
|
Address : |
303, The Eagle's Flight, Suren Road, Off Andheri Kurla
Road, Near Western Express Highway, Andheri [East], Mumbai, Maharashtra,
India |
|
Income-tax
PAN of auditor or auditor's firm : |
AANFP3965G |
|
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Subsidiary Company
: (As on 31.03.2013) |
· First Wardha Steel Limited CIN No.: U27106MH2007PLC172719 Jwala Galva Steels Pte. Limited |
|
|
|
|
Associates : (As on 31.03.2013) |
· Grow Well Mercantile Limited CIN No.: U51900HR1997PLC047058 Uttam Galva Steels Limited CIN No.: L27104MH1985PLC035806 Sainath Trading Company Private Limited CIN No.: U51311MH1971PTC015460 Archisha Steels Private Limited CIN No.: U27205MH1981PTC025930 Revive Buildzone And Dealers Private Limited CIN No.: U45202HR2008PTC049526 Kredence Multi Trading Limited CIN No.: U51900HR1984PLC048132 Uttam Value Steels Limited CIN No.: L27100MH1970PLC014621 Indrajit Power Private Limited CIN No.: U45200MH1994PTC081267 Atlantis International Services Company Limited Metallurgical Engineering And Equipments Limited CIN No.: U29248HR1981PLC050320 Ultimate Logistics Solutions Private Limited CIN No.: U60231HR2007PTC049951 Uttam Galva Ferous Limited CIN No.: U27100KA2010PLC053231 |
CAPITAL STRUCTURE
As on 10.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,500,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 15000.000 Millions |
|
500,000,000 |
Preference Shares |
Rs.10/- each |
Rs. 5000.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 20000.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
752,413,890 |
Equity Shares |
Rs.10/- each |
Rs. 7524.139 Millions |
|
246,005,230 |
Preference Shares |
Rs.10/- each |
Rs. 2460.052 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 9984.191
Millions |
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,500,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 15000.000 Millions |
|
500,000,000 |
Preference Shares |
Rs. 10/- each |
Rs. 5000.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 20000.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
608,701,407 |
Equity Shares |
Rs. 10/- each |
Rs. 6087.000
Millions |
|
146,005,230 |
Preference Shares |
Rs. 10/- each |
Rs. 1460.100
Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 7547.100 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
|
7547.100 |
5258.200 |
|
(b) Reserves & Surplus |
|
3579.000 |
2332.300 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
11126.100 |
7590.500 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
17294.900 |
15220.200 |
|
(b) Deferred tax liabilities (Net) |
|
577.600 |
406.600 |
|
(c) Other long term liabilities |
|
1954.700 |
128.800 |
|
(d) long-term provisions |
|
10.700 |
9.000 |
|
Total Non-current Liabilities (3) |
|
19837.900 |
15764.600 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
2656.200 |
1835.700 |
|
(b) Trade payables |
|
6561.100 |
4084.300 |
|
(c) Other current
liabilities |
|
3366.200 |
3112.800 |
|
(d) Short-term provisions |
|
44.300 |
1.700 |
|
Total Current Liabilities (4) |
|
12627.800 |
9034.500 |
|
|
|
|
|
|
TOTAL |
|
43591.800 |
32389.600 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
22568.100 |
22517.900 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
4945.900 |
1310.500 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
1944.700 |
18.300 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
405.600 |
520.800 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
29864.300 |
24367.500 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
4159.200 |
3510.300 |
|
(c) Trade receivables |
|
4635.500 |
2229.500 |
|
(d) Cash and cash
equivalents |
|
723.700 |
351.900 |
|
(e) Short-term loans and
advances |
|
4194.600 |
1917.200 |
|
(f) Other current assets |
|
14.500 |
13.200 |
|
Total Current Assets |
|
13727.500 |
8022.100 |
|
|
|
|
|
|
TOTAL |
|
43591.800 |
32389.600 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
25216.700 |
20875.300 |
17288.900 |
|
|
|
Other Income |
54.100 |
40.200 |
26.800 |
|
|
|
TOTAL (A) |
25270.800 |
20915.500 |
17315.700 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
12571.400 |
12129.200 |
12059.900 |
|
|
|
Purchases of Stock-in-Trade |
5383.500 |
2781.700 |
436.700 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
456.100 |
(121.500) |
(178.900) |
|
|
|
Employees benefits expense |
374.400 |
317.000 |
241.800 |
|
|
|
Other expenses |
1597.600 |
1564.600 |
1457.600 |
|
|
|
TOTAL (B) |
20383.000 |
16671.000 |
14017.100 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
4887.800 |
4244.500 |
3298.600 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2828.900 |
2382.800 |
1521.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2058.900 |
1861.700 |
1777.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1356.500 |
1125.400 |
764.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
702.400 |
736.300 |
1012.800 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
297.600 |
318.300 |
579.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
404.800 |
418.000 |
433.400 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
114.600 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
6726.400 |
6492.800 |
7188.400 |
|
|
|
Capital Goods |
0.000 |
0.000 |
338.900 |
|
|
|
Components and Spare Parts |
150.600 |
363.000 |
0.000 |
|
|
TOTAL IMPORTS |
6877.000 |
6855.800 |
7527.300 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
0.59 |
0.76 |
0.98 |
|
Note: Balance Sheet
Statement for the year 2014 is not available.
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
1.61 |
2.00 |
2.51 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
19.38 |
20.33 |
19.08 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
2.01 |
3.26 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.07 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
NA
|
1.79 |
2.25 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
NA
|
1.09 |
0.89 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
17288.900 |
20875.300 |
25216.700 |
|
|
|
20.744 |
20.797 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
17288.900 |
20875.300 |
25216.700 |
|
Profit |
433.400 |
418.000 |
404.800 |
|
|
2.51% |
2.00% |
1.61% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10526641 |
10/10/2014 |
24,340,000,000.00 |
SBICAP TRUSTEE COMPANY LIMITED |
202, MAKER TOWER, 'E', CUFFE PARADE, COLABA, MUMBAI, MAHARASHTRA - 400005, INDIA |
C30290365 |
|
2 |
10524677 |
16/09/2014 |
1,000,000,000.00 |
SOUTH INDIAN BANK LIMITED |
GROUND FLOOR,
TODKAR GARDEN, BIBWEWADI- KONDHWA |
C28369700 |
|
3 |
10503726 |
01/08/2014 * |
1,000,000,000.00 |
SBICAP TRUSTEE COMPANY LIMITED |
202, MAKER TOWER, 'E', CUFFE PARADE, COLABA, MUMBAI, MAHARASHTRA - 400005, INDIA |
C14587554 |
|
4 |
10490361 |
02/05/2014 |
1,000,000,000.00 |
VIJAYA BANK |
CORPORATION BANKING BRANCH, MAKER CHAMBER IV, 222, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
C03831641 |
|
5 |
10482303 |
03/03/2014 |
354,200,000.00 |
ORIENTAL BANK OF COMMERCE |
181-A, MAKER TOWER
'E', 18TH FLOOR, CUFF PARADE, |
B98387681 |
|
6 |
10451023 |
18/09/2013 |
2,000,000,000.00 |
SBICAP TRUSTEE COMPANY LIMITED |
202, MAKER TOWER, 'E', CUFFE PARADE, COLABA, MUMBAI, MAHARASHTRA - 400005, INDIA |
B85716223 |
|
7 |
10420719 |
28/03/2013 * |
2,000,000,000.00 |
SBICAP TRUSTEE COMPANY LIMITED |
202, MAKER TOWER, 'E', CUFFE PARADE, COLABA,, MUMBAI, MAHARASHTRA - 400005, INDIA |
B75377945 |
|
8 |
10409936 |
25/02/2013 |
1,000,000,000.00 |
UNITED BANK OF INDIA |
CORPORATE FINANCE
BRANCH, 2ND FLOOR,, UNITED BANK |
B70079702 |
|
9 |
10396006 |
29/12/2012 |
2,000,000,000.00 |
IDBI BANK LIMITED |
IDBI TOWER, WTC COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B65523862 |
|
10 |
10342315 |
21/02/2012 |
60,000,000.00 |
UNION BANK OF INDIA |
UNION BANK BHAVAN, 239,, VIDHAN BHAVAN MARG, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B35065903 |
|
11 |
10307117 |
02/09/2011 |
710,000,000.00 |
PUNJAB NATIONAL BANK |
MAKER TOWER, 'E', GROUND FLOOR, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B20942488 |
|
12 |
10299477 |
09/07/2011 |
877,500,000.00 |
ORIENTAL BANK OF COMMERCE |
181-A, MAKER TOWER
'E',, 18TH FLOOR, CUFF PARADE, |
B17795477 |
|
13 |
10190831 |
03/12/2013 * |
9,559,500,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH,
N. G. N. VAIDYA MARG, HORNIMA |
B92769173 |
|
14 |
10118870 |
01/08/2014 * |
18,239,600,000.00 |
SBICAP TRUSTEE COMPANY LIMITED |
202, MAKER TOWER, 'E', CUFFE PARADE, COLABA, MUMBAI, MAHARASHTRA - 400005, INDIA |
C16118341 |
* Date of charge modification
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2013 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
Other loans and advances |
375.000 |
|
SHORT TERM BORROWINGS |
|
|
Loans repayable on demand |
1080.200 |
|
Total |
1455.200 |
CHANGE OF ADDRESS
The Registered Office of the company has been shifted from C-37, 3rd
Floor, Palam Vyapaar Kendra, Palam Vihar, Gurgaon – 122017, Haryana, India to
the present address w.e.f.31.08.2010.
CORPORATE INFORMATION
The Company is a closely-held public limited company promoted by Miglani Family on 13th September 2007.
The company is primarily engaged into production of Hot Metal / Pig Iron. The company has set-up a Hot Metal / Pig Iron Plant (Blast Furnace) at Wardha, Maharashtra. The plant also consists of a Sinter Plant, Recovery type Coke Oven Plant, Captive Power Plant and a Top Gas Recovery Turbine.
The Company’s primary finished goods are Hot Metal, Pig Iron and Coke. Hot Metal and Pig Iron are produced from the Blast Furnace. Hot Metal and Pig Iron are intermediate products for making steel and is sold to end-users, i.e. foundries and secondary steel manufacturers. Coke is produced from the Coke Oven and major portion of it is used for production of Hot Metal as a fuel in Blast Furnace, while balance portion is sold to Steel Producers. Coke Oven Gas, Granulated Slag and Coal Tar are by-products generated during the production process.
The Registered Office of the Company is situated at 502, Global Foyer Building, Sector 43, Golf Course Road, Gurgaon, Haryana 122002, and Corporate Office is situated at Uttam House, 69 P D’Mello Road, Carnac Bunder, Mumbai - 400009.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2013 (Rs.
In Millions) |
|
(a) Letters of Credit outstanding |
869.600 |
|
(b) Bank Guarantees |
157.300 |
|
(c) Custom Duty |
28.500 |
|
Total |
1055.400 |
FIXED ASSETS
·
Land
Buildings
Office
building
Factory
building
Plant
and equipment
Furniture
and fixtures
Vehicles
Office
Equipment
Computer
Equipments
Other
Equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No 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.61.92 |
|
|
1 |
Rs.97.12 |
|
Euro |
1 |
Rs.76.93 |
INFORMATION DETAILS
|
Information Gathered
by : |
NYA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
44 |
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.