MIRA INFORM REPORT
|
Report Date : |
30.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
AARTI STEELS LIMITED |
|
|
|
|
Registered
Office : |
Miller Ganj, G. T. Road, Ludhiana – 141 003, Punjab |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
06.06.1979 |
|
|
|
|
Com. Reg. No.: |
16-003991 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 103.590 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17115PB1979PLC003991 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
JLDM01231G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCA4455D |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer and Exporter of Iron and Steel Products. |
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|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
|
Litigation : |
Exist |
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|
Comments : |
Subject is an established company having satisfactory track record. The company has incurred a loss from its operations during 2013.
However, general position of the company seems to be decent. The rating also takes into consideration company’s experienced
management, its long track of operations in its core business of
manufacturing of iron and steel products and its reputed client base in the
auto-component industry. Trade relations are reported as fair. Business is active. Payments are
reported to be slow but correct. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
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 |
CRISIL |
|
Rating |
Term loans: “BBB-“ |
|
Rating Explanation |
Have moderate degree of safety and carry moderate credit risk. |
|
Date |
December 2013. |
|
|
|
|
Rating Agency Name |
CRISIL |
|
Rating |
Non fund based limits: “A” |
|
Rating Explanation |
Have moderate degree of safety and carry higher credit risk. |
|
Date |
December 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 PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. D.K. Kapil |
|
Designation : |
Account Head |
|
Contact No.: |
91-161-3006100 |
|
Date : |
29.10.2014 |
LOCATIONS
|
Registered Office : |
Miller Ganj, G. T. Road, Ludhiana – 141 003, Punjab, India |
|
Tel. No.: |
91-161-3006100 |
|
Fax No.: |
91-161-3006150/ 3006153/ 3006155 |
|
E-Mail : |
|
|
Website : |
www.aartisteelsltd.com |
|
|
|
|
Works ( |
(Arc Furnace Division) Focal point, |
|
Tel. No.: |
91-161-3006200 |
|
Fax No.: |
91-161-3600250 |
|
Email: |
|
|
Web Site: |
|
|
|
|
|
Works (Orissa) : |
Ghantikhal P O Mahakalbasta, Via Athgarh, district |
|
Tel. No.: |
91-671-3061000 / 2871282 |
|
Fax No.: |
91-671-3061150 / 2871281 |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Omprakash Bhatia |
|
Designation : |
Director |
|
Address : |
802, Himadri Apartment, 22 Ballygunge Park Road, Kolkata – 700019,
West Bengal, India |
|
Date of Birth/Age : |
15.07.1935 |
|
Date of Appointment : |
30.09.2010 |
|
DIN No.: |
01251010 |
|
|
|
|
Name : |
Mr. Rattan Singhania |
|
Designation : |
Director |
|
Address : |
B4/227, Safdar Ganj Enclave, New Delhi – 110 029, India |
|
Date of Birth/Age : |
01.07.1949 |
|
Date of Appointment : |
30.09.2013 |
|
DIN No.: |
00147685 |
|
|
|
|
Name : |
Mr. Mahesh Kumar Mittal |
|
Designation : |
Whole Time Director |
|
Address : |
154/1, Rani Jhansi Road, civil Lines, Ludhiana – 141 001, Punjab,
India |
|
Date of Birth/Age : |
08.12.1959 |
|
Date of Appointment : |
29.09.2011 |
|
DIN No.: |
00765808 |
|
PAN No.: |
ABRPM6251F |
|
|
|
|
Name : |
Mr. Rajeev Kumar Mittal |
|
Designation : |
Whole Time Director |
|
Address : |
154/1, Rani Jhansi Road, civil Lines, Ludhiana – 141 001, Punjab,
India |
|
Date of Birth/Age : |
13.04.1962 |
|
Date of Appointment : |
29.09.2012 |
|
DIN No.: |
00765697 |
|
PAN No.: |
ACHPM4702A |
KEY EXECUTIVES
|
Name : |
Mr. Dinesh Kumar Behal |
|
Designation : |
Secretary |
|
Address : |
3235 Phase –II, Urban Estate, Dugri, |
|
Date of Birth/Age : |
19.02.1958 |
|
Date of Appointment : |
25.04.2011 |
|
Pan No.: |
ABUPB2010Q |
|
|
|
|
Name : |
Mr. D.K. Kapil |
|
Designation : |
Account Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Shiv Prasad (Karta) |
|
1821 |
|
Mahesh Kumar Mittal (Karta) |
|
10221 |
|
Raj Rani |
|
39976 |
|
Rajeev Kumar (Karta) |
|
9970 |
|
Aarti |
|
1000 |
|
Shiv Prasad |
|
142207 |
|
Uma Mittal |
|
15551 |
|
Yash Paul Sharma |
|
2 |
|
Shiv Desh Bandhu |
|
2 |
|
Creative Intra Limited |
|
484613 |
|
Rajeev Mittal |
|
52870 |
|
Mahesh Mittal |
|
56428 |
|
Sushen Mittal |
|
14587 |
|
Gayatri Mittal |
|
7294 |
|
Vinayak Mittal |
|
12578 |
|
Alka Mittal |
|
27166 |
|
Isabelle Traders Limited |
|
142351 |
|
Shiv Prasad Agarwal and Sons |
|
518 |
|
Dinesh Kumar |
|
3 |
|
H.L. Real Estate Private limited, India |
|
3178 |
|
Aarti International Limited, India |
|
13563 |
|
|
|
|
|
Total |
|
1035899 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
62.14 |
|
Directors or relatives of directors |
|
37.86 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Iron and Steel Products. |
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Products : |
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Exports : |
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Products : |
Iron and Steel Products |
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Countries : |
Sri Lanka |
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Imports : |
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Products : |
Scrap |
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Countries : |
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Terms : |
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Selling : |
Cash / Advance Payment |
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Purchasing : |
Cash / Advance Payment |
GENERAL INFORMATION
|
Customers : |
Retailers |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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||||||||||||||||||||||||
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Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
N K Bector and Company Chartered Accountants |
|
Address : |
B-XX-3297/5 Gurdev Nagar Ludhiana, Punjab, India |
|
PAN No.: |
AAWPB1817G |
|
|
|
|
Subsidiaries |
Ludhiana Steels Limited |
|
|
|
|
Enterprises which are owned, or have significant influence of or are
partners with Key management personnel and their relatives : |
·
Aarti International Limited, India ·
Creative Intra Limited, India · Aarti and Company |
CAPITAL STRUCTURE
As on: 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
Rs.100/- each |
Rs.150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1035899 |
Equity Shares |
Rs.100/- each |
Rs.103.590
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
103.590 |
104.290 |
104.290 |
|
(b) Reserves & Surplus |
3046.184 |
3158.511 |
2971.623 |
|
(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) |
3149.774 |
3262.801 |
3075.913 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
1838.761 |
2046.650 |
2327.004 |
|
(b) Deferred tax liabilities (Net) |
627.201 |
704.245 |
686.879 |
|
(c) Other long term
liabilities |
23.685 |
1.320 |
1.653 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
2489.647 |
2752.215 |
3015.536 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
2499.677 |
2397.138 |
2064.339 |
|
(b) Trade payables |
516.895 |
667.609 |
394.742 |
|
(c) Other current
liabilities |
561.349 |
686.467 |
1011.522 |
|
(d) Short-term
provisions |
13.272 |
8.205 |
40.433 |
|
Total Current
Liabilities (4) |
3591.193 |
3759.419 |
3511.036 |
|
|
|
|
|
|
TOTAL |
9230.614 |
9774.435 |
9602.485 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
4425.931 |
4919.329 |
4397.105 |
|
(ii) Intangible Assets |
2.545 |
1.189 |
1.861 |
|
(iii) Capital
work-in-progress |
13.319 |
32.561 |
714.504 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
61.907 |
61.912 |
62.288 |
|
(c) Deferred tax
assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
70.448 |
88.714 |
134.104 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
4574.150 |
5103.705 |
5309.862 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.047 |
1.544 |
1.402 |
|
(b) Inventories |
1844.878 |
1552.267 |
1559.049 |
|
(c) Trade receivables |
2175.718 |
2227.908 |
2074.866 |
|
(d) Cash and cash
equivalents |
74.369 |
125.211 |
196.068 |
|
(e) Short-term loans
and advances |
555.875 |
743.614 |
457.208 |
|
(f) Other current
assets |
5.577 |
20.186 |
4.030 |
|
Total Current Assets |
4656.464 |
4670.730 |
4292.623 |
|
|
|
|
|
|
TOTAL |
9230.614 |
9774.435 |
9602.485 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
10407.125 |
10163.565 |
9036.961 |
|
|
|
Other Income |
38.861 |
21.916 |
13.614 |
|
|
|
TOTAL (A) |
10445.986 |
10185.481 |
9050.575 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
6287.585 |
5546.179 |
4798.093 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(198.944) |
(63.130) |
(302.193) |
|
|
|
Employees benefits expense |
349.050 |
310.446 |
300.005 |
|
|
|
Other expenses |
2972.666 |
3037.563 |
2638.774 |
|
|
|
TOTAL (B) |
9410.357 |
8831.058 |
7434.679 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1035.629 |
1354.423 |
1615.896 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
595.065 |
540.008 |
486.551 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
440.564 |
814.415 |
1129.345 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
663.725 |
558.161 |
536.350 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(223.161) |
256.254 |
592.995 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(132.043) |
69.366 |
211.545 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(91.118) |
186.888 |
381.450 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1.159 |
1.771 |
0.321 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
(89.959) |
187.500 |
380.000 |
|
|
BALANCE CARRIED
TO THE B/S |
0.000 |
1.159 |
1.771 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
NA |
29.032 |
133.331 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
881.211 |
502.058 |
309.697 |
|
|
|
Stores & Spares |
0.478 |
67.845 |
140.627 |
|
|
|
Capital Goods |
8.404 |
0.865 |
0.000 |
|
|
TOTAL IMPORTS |
890.093 |
570.768 |
450.324 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(87.40) |
179.20 |
363.96 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(0.87) |
1.83 |
4.21 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(2.14) |
2.52 |
6.56 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(2.44) |
2.65 |
6.72 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.07) |
0.08 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.38 |
1.36 |
1.43 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.30 |
1.24 |
1.22 |
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 |
104.290 |
104.290 |
103.590 |
|
Reserves & Surplus |
2971.623 |
3158.511 |
3046.184 |
|
Net worth |
3075.913 |
3262.801 |
3149.774 |
|
|
|
|
|
|
long-term borrowings |
2327.004 |
2046.650 |
1838.761 |
|
Short term borrowings |
2064.339 |
2397.138 |
2499.677 |
|
Total borrowings |
4391.343 |
4443.788 |
4338.438 |
|
Debt/Equity ratio |
1.428 |
1.362 |
1.377 |
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 |
9036.961 |
10163.565 |
10407.125 |
|
|
|
12.467 |
2.396 |
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 |
9036.961 |
10163.565 |
10407.125 |
|
Profit |
381.450 |
186.888 |
(91.118) |
|
|
4.22% |
1.84% |
(0.88)% |
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 |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As on 31.03.2013 |
As on 31.03.2012 |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and advances from related parties |
620.851 |
537.543 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Loans repayable on demand |
17.749 |
154.663 |
|
|
|
|
|
Total |
638.600 |
692.206 |
CASE DETAILS
|
Case Details For Case CM-3011-CII-2000 |
|||
|
Diary Number |
0 |
District |
Other Districts |
|
Category |
6-TAX MATTERS(INCLUDING CRIMINAL APPEALS) |
Main Case Detail |
CCEC-6-2000 |
|
Party Detail |
THE COMMISSIONER OF CENTRAL EXCISE V/S AARTI STEELS LTD. ETC. |
||
|
Advocate Name |
RAJESH GUMBER |
List Type |
ORDINARY |
|
Status |
PENDING |
Next date |
Not Available |
INDEX OF CHARGES
|
S.No. |
Charge
ID |
Date
of Charge Creation/ Modification |
Charge
amount secured |
Charge
Holder |
Address |
Service
Request Number (SRN) |
|
1 |
10412815 |
28/02/2013 |
150,000,000.00 |
STATE
BANK OF PATIALA |
COMMERCIAL
BRANCH, AARTI COMPLEX, G. T. ROAD, MILLER GANJ, LUDHIANA, PUNJAB - 141003,
INDIA |
B71116719 |
|
2 |
10252631 |
20/11/2010 |
200,000,000.00 |
IDBI
BANK LIMITED |
SCO
126-128, KALINGA TOWERS, FEROZE GANDHI MARKET, LUDHIANA, PUNJAB - 141001,
INDIA |
B00337717 |
|
3 |
10252628 |
19/11/2010 |
200,000,000.00 |
ORIENTAL
BANK OF COMMERCE |
OVERSEAS
BRANCH, JANDU TOWER, G. T. ROAD, MILLER |
B00318832 |
|
4 |
10246841 |
11/10/2010 |
250,000,000.00 |
STATE
BANK OF PATIALA |
COMMERCIAL
BRANCH, G. T. ROAD, MILLERGANJ, LUDH |
A97569230 |
|
5 |
10244205 |
05/10/2010 |
250,000,000.00 |
CORPORATION
BANK |
SCO-34,
FEROZE GANDHI MARKET,, PAKHOWAL ROAD,, LUDHIANA, PUNJAB - 141001, INDIA |
A96682109 |
|
6 |
10199514 |
02/02/2010 |
250,000,000.00 |
IDBI
BANK LIMITED |
1ST FLOOR,
SCO 126-128, KALINGA TOWERS, FEROZE GANDHI MARKET,, LUDHIANA, PUNJAB -
141001, INDIA |
A78520830 |
|
7 |
10172186 |
30/12/2009
* |
350,000,000.00 |
YES
BANK LIMITED |
9TH
FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. |
A77020774 |
|
8 |
10170287 |
24/07/2009 |
60,000,000.00 |
STATE
BANK OF HYDERABAD |
SONA
COMPLEX, 15/179, G. T. ROAD, MILLER GANJ, LU |
A67510495 |
|
9 |
10166350 |
11/08/2009
* |
150,000,000.00 |
IDBI
BANK LIMITED |
S.C.O.
126-128, KALINGA TOWERS, FEROZE GANDHI MARKET, LUDHIANA, PUNJAB - 141001,
INDIA |
A68212349 |
|
10 |
10139808 |
28/01/2009 |
200,000,000.00 |
ORIENTAL
BANK OF COMMERCE |
OVERSEAS
BRANCH, G. T. ROAD, LUDHIANA, PUNJAB - 141003, INDIA |
A55635692 |
|
11 |
10139957 |
24/01/2009 |
220,000,000.00 |
CORPORATION
BANK |
SCO
- 34, FEROZE GANDHI MARKET, PAKHOWAL ROAD, |
A55730220 |
|
12 |
10127143 |
11/10/2008 |
500,000,000.00 |
PUNJAB
NATIONAL BANK |
INTERNATIONAL
BANKING BRANCH, G. T. ROAD, INDUSTRIAL AREA, LUDHIANA, PUNJAB - 141003, INDIA |
A49164791 |
|
13 |
10117831 |
19/08/2008 |
800,000,000.00 |
STATE
BANK OF PATIALA |
COMMERCIAL
BRANCH, G. T. ROAD, MILLER GANJ, LUDHI |
A43916162 |
|
14 |
10117716 |
28/07/2008 |
150,000,000.00 |
PUNJAB
NATIONAL BANK |
INTERNATIONAL
BANKING BRANCH, G. T. ROAD, INDUSTRIAL AREA, LUDHIANA, PUNJAB - 141003, INDIA |
A43729581 |
|
15 |
10114126 |
09/07/2008 |
50,000,000.00 |
ORIENTAL
BANK OF COMMERCE |
OVERSEAS
BRANCH, G. T. ROAD, LUDHIANA, PUNJAB - 141003, INDIA |
A42651497 |
|
16 |
10097105 |
03/04/2008 |
200,000,000.00 |
STATE
BANK OF PATIALA |
COMMERCIAL
BRANCH, MILLER GANJ, LUDHIANA, PUNJAB - |
A36154417 |
|
17 |
10013519 |
02/08/2006 |
180,000,000.00 |
STATE
BANK OF PATIALA |
COMMERCIAL
BRANCH, G. T. ROAD, MILLER GANJ, LUDHI |
A03223286 |
|
18 |
80010975 |
23/02/2012
* |
470,000,000.00 |
STATE
BANK OF INDIA |
SCB,
MILLER GANJ, G.T ROAD, LUDHIANA, PUNJAB - 141003, INDIA |
B33022872 |
|
19 |
90167672 |
20/12/2012
* |
3,750,000,000.00 |
STATE
BANK OF PATIALA |
COMMERCIAL
BRANCH, AARTI COMPLEX, G. T. ROAD, MILLER GANJ, LUDHIANA, PUNJAB - 141003,
INDIA |
B67448548 |
* Date of charge modification
FIXED ASSETS
v Land
v Building
v Plant and Machinery
v Vehicles
v Furniture and Fixtures
v Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 61.32 |
|
|
1 |
Rs. 99.00 |
|
Euro |
1 |
Rs. 78.14 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
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.