MIRA INFORM REPORT
|
Report Date : |
30.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
SIKKIM FERRO ALLOYS LIMITED |
|
|
|
|
Registered
Office : |
2nd
Floor Apsara Cinema Building, Dr. D. B Marg Grant Road, Mumbai - 400007,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
04.03.1998 |
|
|
|
|
Com. Reg. No.: |
11-113802 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.18.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28910MH1998PLC113802 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS43397E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAGCS8115B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Importer and Trader of Ferrous and Non Ferrous Metal. |
|
|
|
|
No. of Employees
: |
80 (Approximately) |
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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. The company has seen a significant increases in its sales volume
whereas, the profit margin seems to be low. The ratings also take into considerations the working capital
intensive nature of the business during 2013. However, the general financial position of the company seems to be
sound. Trade relations are fair. Business is active. Payment terms are
reported as usually correct. In view of extensive experience of the promoters, the subject can be
considered for 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 |
Long term rating : BBB |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
06.11.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating : A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
06.11.2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. K. P. Raju |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-9619986286 |
|
Date : |
10.10.2014 |
LOCATIONS
|
Registered/ Head Office : |
2nd
Floor Apsara Cinema Building, Dr. D. B Marg Grant Road, Mumbai - 400007,
Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9619986286 (Mr. K. P. Raju) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website: |
|
|
Area : |
7000 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Godown 1: |
Gala No.2, Thakkar Compound, Anjur Phala Road, Val – Village, Taluka –
Bhiwandi, Thane, Maharashtra, India |
|
|
|
|
Godown 2: |
Gala No.11, Diamond Industrial Estate, Ahmedabad Mumbai Highway Road,
Near Almoat Factory, Vasai, Thane, Maharashtra, India |
|
|
|
|
Branch Office 1: |
Block No. C-123, Zaveri Industrial Estate, B/H C.L. Vidahlaya,
Kathwada, Ahmedabad, Gujarat, India |
|
Tel. No.: |
91-79-22901098 |
|
|
|
|
Branch Office 2: |
Door No.10/11-70, G.P. Complex No.15, Fathenagar, Hyderabad - 500016,
Andhra Pradesh, India |
|
Tel. No.: |
91-40-6617 4764 |
|
Email: |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Jitendra Champalal Kanungo |
|
Designation : |
Director |
|
Address : |
56/64, Gainson Building, 1st Floor, Nanubhai Desai Road, Mumbai –
400004, Maharashtra, India |
|
Qualification : |
Under Graduate |
|
Date of Appointment : |
26.09.2003 |
|
PAN No.: |
ACMPK0190K |
|
DIN No.: |
00447436 |
|
|
|
|
Name : |
Mr. Hiralal Nagraj Kanungo |
|
Designation : |
Director |
|
Address : |
14, Mansabhai Bhawan, 3rd Floor, Nanubhai Road, Mumbai-400004,
Maharashtra, India |
|
Date of Birth/Age : |
12.09.1971 |
|
Qualification : |
Under Graduate |
|
Date of Appointment : |
29.09.2003 |
|
DIN No.: |
00426255 |
|
|
|
|
Name : |
Mr. Kamlesh Manohar Kanungo |
|
Designation : |
Director |
|
Address : |
Shripati Arcade, 31st Floor, Flat-1, August Kranti Maidan, Nana Chowk,
Mumbai – 400036, Maharashtra, India |
|
Date of Birth/Age : |
15.03.1977 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
04.03.1998 |
|
PAN No.: |
ABBPK9675R |
|
Voter ID No.: |
ISD1638022 |
|
DIN No.: |
00223181 |
KEY EXECUTIVES
|
Name : |
Mr. K. P. Raju |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Manohar Poolchand Kanugo |
25010 |
|
Kamlesh Manohar Kanugo |
49940 |
|
Rajendra K Mehta |
10 |
|
Prakash Sanghavi |
10 |
|
Sunil Parikh |
10 |
|
Jamnalal Dokwal |
10 |
|
Sudhir Talati |
10 |
|
Manohar Manak Alloya Limited, India |
75000 |
|
Khaniyalal Sharma |
34760 |
|
Priya Sharma |
17380 |
|
Emreld Commercial Limited, India |
12000 |
|
Global Capital Market Limited, India |
16000 |
|
Kaivwal Nain Shaney |
12000 |
|
Dimple Kamlesh Kanugo |
110000 |
|
Javada India Impex Limited, India |
70000 |
|
Alka Diamond Industries Limited, India |
30000 |
|
Hema Trading Company Limited, India |
60000 |
|
Jai Shelters Private Limited, India |
181818 |
|
Wescon Finance Leasing Private Limited, India |
242856 |
|
Megh Leasing Investment Limited, India |
763213 |
|
Mr. Ajaychandran Nair |
100000 |
|
|
|
|
Total |
1800027 |
As on 30.09.2013
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 |
2.90 |
|
Bodies corporate |
86.16 |
|
Directors or relatives of Directors |
10.27 |
|
Other top fifty shareholders |
0.67 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Importer and Trader of Ferrous and Non Ferrous Metal. |
||||||
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|
||||||
|
Products : |
·
Concentrates ·
Metals ·
Metal Scraps ·
High Nickle ·
Ferro Alloys ·
Stainless Steel |
||||||
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|
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|
Imports : |
|
||||||
|
Products : |
Ferrous and Non Ferrous |
||||||
|
Countries : |
|
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|
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Terms : |
|
||||||
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Selling : |
L/C and Credit |
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|
||||||
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Purchasing : |
L/C and Credit |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers and Retailers
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No. of Employees : |
80 (Approximately) |
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Bankers : |
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Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Batliboi and
Purohit Chartered
Accountants |
|
Address : |
204, National
Insurance Building, 2nd Floor, D N Road, Fort, Mumbai – 400001, Maharashtra,
India |
|
PAN
No. : |
AAAFB0915F |
|
|
|
|
Company in which
KMP / Relatives of KMP can exercise
significant influence : |
|
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1800027 |
Equity Shares |
Rs.10/- each |
Rs.18.000 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 |
18.000 |
15.600 |
13.225 |
|
(b) Reserves & Surplus |
748.042 |
540.005 |
399.065 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
120.000 |
95.000 |
|
Total
Shareholders’ Funds (1) + (2) |
766.042 |
675.605 |
507.290 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
846.885 |
383.015 |
150.782 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
5.346 |
2.846 |
0.000 |
|
Total
Non-current Liabilities (3) |
852.231 |
385.861 |
150.782 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1,294.278 |
768.951 |
86.059 |
|
(b) Trade payables |
1,469.909 |
1,266.712 |
1,229.093 |
|
(c) Other current liabilities |
68.496 |
19.047 |
0.000 |
|
(d) Short-term provisions |
26.017 |
7.028 |
1.495 |
|
Total
Current Liabilities (4) |
2,858.700 |
2,061.738 |
1,316.647 |
|
|
|
|
|
|
TOTAL |
4,476.973 |
3,123.204 |
1,974.719 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i) Tangible assets |
9.720 |
11.448 |
12.643 |
|
(ii) Intangible Assets |
0.033 |
0.015 |
0.004 |
|
(iii) Capital work-in-progress |
5.000 |
2.500 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.733 |
0.501 |
0.114 |
|
(d) Long-term Loan
and Advances |
3.702 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.341 |
0.000 |
0.010 |
|
Total
Non-Current Assets |
19.529 |
14.464 |
12.771 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
801.910 |
851.279 |
766.983 |
|
(c) Trade receivables |
3,371.202 |
2,105.226 |
1,013.711 |
|
(d) Cash and cash equivalents |
281.553 |
147.999 |
181.249 |
|
(e) Short-term loans and advances |
1.074 |
1.045 |
0.005 |
|
(f) Other current assets |
1.705 |
3.191 |
0.000 |
|
Total
Current Assets |
4,457.444 |
3,108.740 |
1,961.948 |
|
|
|
|
|
|
TOTAL |
4,476.973 |
3,123.204 |
1,974.719 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
18016.760 |
6749.048 |
4312.242 |
|
|
|
Other Income |
135.758 |
36.927 |
18.653 |
|
|
|
TOTAL (A) |
18152.518 |
6785.975 |
4330.895 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of stock-in-trade |
17824.752 |
6712.215 |
4734.907 |
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
48.698 |
(88.933) |
(522.826) |
|
|
|
Employee benefit expense |
9.489 |
4.998 |
2.264 |
|
|
|
Other expenses |
61.150 |
43.714 |
49.595 |
|
|
|
TOTAL (B) |
17944.089 |
6671.994 |
4263.940 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
208.429 |
113.981 |
66.955 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
64.298 |
34.950 |
17.090 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
144.131 |
79.031 |
49.865 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.734 |
3.467 |
2.365 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
141.397 |
75.564 |
47.500 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
50.960 |
27.249 |
17.227 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
90.437 |
48.315 |
30.273 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
1044.981 |
1291.646 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
53.20 |
33.99 |
23.87 |
|
|
Particulars |
|
|
31.03.2014 |
|
|
|
|
|
|
Sales Turnover (Approximately) |
|
|
18000.000 |
|
|
|
|
|
The above information has been parted Mr. K. P. Raju
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.50
|
0.71 |
0.70 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.78
|
1.12 |
1.10 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.16
|
2.42 |
2.40 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
0.11 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.79
|
1.70 |
0.47 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.56
|
1.51 |
1.49 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
13.225 |
15.600 |
18.000 |
|
Reserves & Surplus |
399.065 |
540.005 |
748.042 |
|
Share Application money
pending allotment |
95.000 |
120.000 |
0.000 |
|
Net
worth |
507.290 |
675.605 |
766.042 |
|
|
|
|
|
|
long-term borrowings |
150.782 |
383.015 |
846.885 |
|
Short term borrowings |
86.059 |
768.951 |
1294.278 |
|
Total
borrowings |
236.841 |
1,151.966 |
2,141.163 |
|
Debt/Equity
ratio |
0.467 |
1.705 |
2.795 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Revenue from operations |
4312.242 |
6749.048 |
18016.760 |
|
|
|
56.509 |
166.953 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Revenue from operations |
4312.242 |
6749.048 |
18016.760 |
|
Profit |
30.273 |
48.315 |
90.437 |
|
|
0.70% |
0.72% |
0.50% |
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
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 |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
Yes |
|
34] |
External Agency Rating,
if available |
Yes |
NOTE:
The registered address of the company has been
shifted from 108/A, Anand Bhawan, 1st Floor, ‘C’ Wing, 163/165, V.P. Road,
Opposite Sikka Nagar, Mumbai – 400004, Maharashtra, India to the present
address w.e.f. 15.11.2013
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans and advance from others |
75.430 |
0.000 |
|
|
|
|
|
Total |
75.430 |
0.000 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10466221 |
26/11/2013 |
250,000,000.00 |
VIJAYA BANK |
OVERSEAS BRANCH,MAKER CHAMBERS-IV, NAIRMAN POINT, MUMBAI - 400021,
Maharashtra, INDIA |
B91982975 |
|
2 |
10369855 |
06/08/2012 |
30,000,000.00 |
UNION BANK OF INDIA |
MUMBAI SAMACHAR MARG BRANCH, 66/80, MUMBAI SAMAC HAR MARG, FORT, MUMBAI - 400023,
Maharashtra -, INDIA |
B45426715 |
|
3 |
10355354 |
09/05/2012 |
55,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. |
B39519103 |
|
4 |
10273684 |
21/03/2012 * |
300,000,000.00 |
STATE BANK OF INDIA |
SMALL AND MEDIUM ENTERPRISES, SHIVSAGAR, ESTATE BRANCH, ANNIE BESANT
ROAD, WORLI, MUMBAI, Maharashtra - 400018, INDIA |
B37593050 |
|
5 |
10141503 |
08/06/2013 * |
750,000,000.00 |
UNION BANK OF INDIA |
MUMBAI SAMACHAR MARG BRANCH, 66/80, MUMBAI SAMAC HAR MARG, FORT, MUMBAI - 400023,
Maharashtra -, INDIA |
B77168342 |
* Date of charge modification
CORPORATE INFORMATION:
Subject was
incorporated in the year 1998. The company over the years has created a niche
for providing industrial raw materials and caters to various industries and
users like Foundries, Steel plants, Forgings, Pipe manufacturers, Mole
convertors, Aluminum based industries etc. The company is currently into
trading in all types of ferrous and non-ferrous metals: Stainless Steel Sheets,
Plates, Coils, pipes, billets, H.R/C.R, Seamless/Welded, Prime/Seconds/Stock
lots, Ferro Alloys, high Nickel scrap etc. Besides trading, company has also
started providing some processing services such as slitting, shearing, metal
cutting etc.
FIXED ASSETS
·
Plant and equipment
·
Furniture and fixtures
·
Vehicles
·
Motor vehicles
·
Office equipment
·
Computer Equipments
·
Other Equipments
·
Computer 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 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.61.32 |
|
|
1 |
Rs.99.00 |
|
Euro |
1 |
Rs.78.14 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done
by: |
RAS |
|
|
|
|
Report Prepared
by : |
ANK |
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 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--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 |
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 |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.