MIRA
INFORM REPORT
|
Report No. : |
302494 |
|
Report Date : |
03.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
A. R. STEEL CORPORATION |
|
|
|
|
Registered
Office : |
D 205, Blue |
|
|
|
|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Year of
Establishment : |
2012 |
|
|
|
|
Capital
Investment : |
Rs. 0.489 Million |
|
|
|
|
PAN No.: [Permanent Account No.] |
BIPPS6108D |
|
|
|
|
Legal Form : |
Sole Proprietary Concern |
|
|
|
|
Line of Business
: |
Trader of Carbon Steel Seamless Pipes, Alloy
Steel Seamless Pipes, etc. and also Dealer of Tool and Alloy Steel and
Stainless Steel. |
|
|
|
|
No. of Employees
: |
3 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Small Concern |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
Litigation : |
Clear |
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|
Comments : |
Subject is a small proprietary concern in its field. Its scale of activities are limited. However, trade relations are reported as fair. Business is active.
Payments are reported to be slow but correct. The concern can be considered for business dealings with some caution.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
NOT AVAILABLE
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
|
Name : |
Ms. Manisha Verma |
|
Designation : |
Accountant |
|
Contact No.: |
91-22-42769656 |
|
Date : |
01.04.2015 |
LOCATIONS
|
Registered Office : |
D 205, Blue Mount Edifice, 100 Ft Road, Suncity
Vasai (West), District Thane – 401202, Maharashtra, India |
|
Tel. No.: |
91-22-42769656 |
|
Mobile No.: |
91-9323087279 [Mr. Abhay Vindhyachal
Sharma] |
|
Fax No.: |
Not Available |
|
Location : |
Owned |
SOLE PROPRIETOR
|
Name : |
Mr. Abhay Vindhyachal
Sharma |
|
Designation : |
Proprietor |
|
Address : |
D 205, Blue Mount, E Office, 100 Ft Road, Suncity
Vasai (West), District Thane – 401202, Maharashtra, India |
|
Date of Birth/Age : |
10.08.1975 |
|
Qualification : |
B. Com |
|
PAN No.: |
BIPPS6108D |
KEY EXECUTIVES
|
Name : |
Ms. Manisha Verma |
|
Designation : |
Accountant |
BUSINESS DETAILS
|
Line of Business : |
Trader of Carbon Steel Seamless Pipes, Alloy
Steel Seamless Pipes, etc. and also Dealer of Tool and Alloy Steel and
Stainless Steel. |
|
|
|
|
Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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Products : |
-- |
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Countries : |
-- |
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Imports : |
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Products : |
-- |
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Countries : |
-- |
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Terms : |
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Selling : |
Credit |
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Purchasing : |
L/C and Cash |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
3 (Approximately) |
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Bankers : |
· Dena Bank Vile Parle (West), Mumbai, |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
Not Available |
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|
|
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 31.03.2014
|
Capital Investment : |
|
|
Owned : |
Rs. 0.489 Million |
|
Borrowed : |
-- |
|
Total : |
Rs. 0.489 Million |
FINANCIAL DATA
[all figures are in Rupees Million]
Note : Sole Proprietary and Partnership concerns
are exempted from filing their financials with the Government Authorities or
Registry.
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2014 |
31.03.2013 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Proprietor Capital |
|
0.489 |
0.374 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Profit and Loss Account |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
0.489 |
0.374 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
2.023 |
1.822 |
|
|
2] Unsecured Loans |
|
0.000 |
0.313 |
|
|
TOTAL BORROWING |
|
2.023 |
2.135 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
2.512 |
2.509 |
|
|
|
|
|
|
|
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APPLICATION OF
FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
2.708 |
2.436 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
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INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
0.000 |
0.000 |
|
|
Sundry Debtors |
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
|
0.551 |
0.078 |
|
|
Other Current Assets |
|
0.100 |
0.000 |
|
|
Loans & Advances |
|
0.002 |
0.000 |
|
Total
Current Assets |
|
0.653 |
0.078 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
0.000 |
0.000 |
|
|
Other Current Liabilities |
|
0.849 |
0.005 |
|
|
Provisions |
|
0.000 |
0.000 |
|
Total
Current Liabilities |
|
0.849 |
0.005 |
|
|
Net Current Assets |
|
(0.196) |
0.073 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
2.512 |
2.509 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Labour charges received |
|
0.820 |
0.000 |
|
|
|
Commission received |
|
0.025 |
0.000 |
|
|
|
Contract charges |
|
0.000 |
0.714 |
|
|
|
TOTAL |
|
0.845 |
0.714 |
|
|
|
|
|
|
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|
Less |
EXPENSES |
|
|
|
|
|
|
|
Labour charges |
|
0.035 |
0.000 |
|
|
|
Consumables |
|
0.003 |
0.000 |
|
|
|
Job Expenses |
|
0.064 |
0.000 |
|
|
|
Loading and unloading Expenses |
|
0.004 |
0.000 |
|
|
|
Transportation Expenses |
|
0.006 |
0.000 |
|
|
|
Accounting charges |
|
0.003 |
0.005 |
|
|
|
Business promotion Expenses |
|
0.003 |
0.000 |
|
|
|
Conveyance Expenses |
|
0.020 |
0.029 |
|
|
|
Fuel Expenses |
|
0.003 |
0.000 |
|
|
|
Printing and Stationery |
|
0.002 |
0.025 |
|
|
|
Repair and Maintenance |
|
0.045 |
0.000 |
|
|
|
Computer and maintenance Expenses |
|
0.013 |
0.041 |
|
|
|
Marketing Expenses |
|
0.002 |
0.000 |
|
|
|
Telephone Expenses |
|
0.003 |
0.027 |
|
|
|
Interest on Vehicle Loan |
|
0.020 |
0.000 |
|
|
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Other Expenses |
|
0.000 |
0.211 |
|
|
|
TOTAL |
|
0.226 |
0.338 |
|
|
|
|
|
|
|
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PROFIT
BEFORE DEPRECIATION AND AMORTISATION |
|
0.619 |
0.376 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
0.048 |
0.000 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT |
|
0.571 |
0.376 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2014 |
31.03.2013 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
16.99 |
14.96 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
1.17 |
1.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
4.14 |
5.71 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
0.77 |
15.60 |
FINANCIAL ANALYSIS
[all figures are in Rupees Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Proprietor Capital |
0.374 |
0.489 |
|
Reserves & Surplus |
0.000 |
0.000 |
|
Net
worth |
0.374 |
0.489 |
|
|
|
|
|
Secured Loans |
1.822 |
2.023 |
|
Unsecured Loans |
0.313 |
0.000 |
|
Total
borrowings |
2.135 |
2.023 |
|
Debt/Equity
ratio |
5.709 |
4.137 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Total Income |
0.714 |
0.845 |
|
|
|
18.347 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Total Income |
0.714 |
0.845 |
|
Profit |
0.376 |
0.571 |
|
|
52.66% |
67.57% |
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
two years |
Yes |
|
12] |
Profitability for last
two years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
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 |
No |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
No |
|
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 |
No |
------------------------------------------------------------------------------------------------------------------------------
COMPUTATION OF INCOME
(RS. IN MILLIONS)
|
PARTICULARS |
31.03.2014 |
||
|
|
|
|
|
|
INCOME FROM HOUSE PROPERTY |
|
|
|
|
Self-occupied property: Flat No. 205,
D-Wing, Blue |
|
|
|
|
Gross Annual value u/s 23(2)(a) |
|
0.000 |
|
|
Less: Interest on borrowed capital u/s 24(b) |
|
0.240 |
|
|
Income from Self-occupied property |
|
(0.150) |
|
|
|
|
-------------- |
|
|
Income chargeable under the head “House
Property” |
|
|
(0.150) |
|
|
|
|
|
|
PROFITS AND GAINS OF BUSINESS OR PROFESSION |
|
|
|
|
Business 1 |
|
|
|
|
Net Profit before Tax as per P & L
account |
|
0.571 |
|
|
|
|
|
|
|
Add: Inadmissible expenses and income nor
included |
|
|
|
|
Depreciation debited to P & L account |
|
0.048 |
|
|
|
|
-------------- |
|
|
Adjusted Profit from Business 1 |
|
0.619 |
|
|
|
|
|
|
|
Total income from Business and Profession |
|
0.619 |
|
|
|
|
|
|
|
Less: Deprecation as per IT Act |
|
0.048 |
|
|
|
|
|
|
|
Income chargeable under the head “Business
and Profession” |
|
|
0.571 |
|
|
|
|
|
|
INCOME FROM OTHER SOURCES |
|
|
|
|
Bank Interest |
|
0.000 |
|
|
|
|
|
|
|
Income chargeable under the head “other
sources” |
|
|
0.000 |
|
|
|
|
-------------- |
|
GROSS TOTAL INCOME |
|
|
0.421 |
|
|
|
|
|
|
Deductions under Chapter VI-A |
|
|
|
|
80D Medical Insurance Premia |
|
0.007 |
|
|
80TTA Interest on Saving Bank A/c |
|
0.001 |
|
|
|
|
|
|
|
Investment u/s 80C, CCC, CCD |
|
|
|
|
Life Insurance Premium |
0.034 |
|
|
|
Housing Loan repayment |
0.228 |
|
|
|
|
|
|
|
|
Total investment-subject to ceiling u/s
80CCE |
|
0.100 |
|
|
|
|
|
0.108 |
|
|
|
|
-------------- |
|
TOTAL INCOME |
|
|
0.313 |
|
Total Income rounded off u/s 288A |
|
|
0.313 |
|
|
|
|
|
|
Tax on Total Income |
|
|
0.011 |
|
Rebate u/s 87A |
|
|
0.002 |
|
|
|
|
-------------- |
|
Tax after rebate |
|
|
0.009 |
|
Add: Education cess
|
|
|
0.000 |
|
|
|
|
-------------- |
|
Tax with cess |
|
|
0.009 |
|
|
|
|
|
|
Net Tax |
|
|
0.009 |
|
|
|
|
|
|
TDS |
|
0.002 |
|
|
|
|
|
|
|
Total prepaid taxes |
|
|
0.002 |
|
|
|
|
-------------- |
|
Balance Tax |
|
|
0.007 |
|
|
|
|
|
|
Interest u/s 234A |
|
|
0.001 |
|
|
|
|
-------------- |
|
Net tax payable |
|
|
0.008 |
|
|
|
|
|
|
Self-assessment tax paid |
|
|
0.008 |
|
|
|
|
-------------- |
|
Balance tax payable |
|
|
0.000 |
------------------------------------------------------------------------------------------------------------------------------
PROFILE
Subject is a proprietorship firm formed in the
year 2012 by Mr. Abhay Sharma, has office at 205,
D-Wing, 2nd Floor, Blue Mount Edifice, Sun City, Ahambadi
Road, Vasai (West), Thane – 401202.
The firm is in trading business and is a
dealer in “Tool and Alloy Steel and Stainless Steel”. The firm
mainly do trading of Carbon Steel Seamless pipes, Alloy Steel Seamless
Pipes, these product have different quality standards.
The firm supply these
products to industrial units across Mumbai,
The firm is in the business
since last 3 years and have developed recognition across the trading
business.
------------------------------------------------------------------------------------------------------------------------------
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 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] 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. 62.34 |
|
|
1 |
Rs. 92.64 |
|
Euro |
1 |
Rs. 68.12 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
28 |
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.