MIRA INFORM REPORT
|
Report No. : |
315639 |
|
Report Date : |
03.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
MAHINDRA SANYO SPECIAL STEEL PRIVATE LIMITED (w.e.f. 18.09.2012) |
|
|
|
|
Formerly Known
As : |
NAVYUG SPECIAL STEEL PRIVATE LIMITED |
|
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Registered
Office : |
74, Ganesh Apartment, L.J. Road, Opposite Sitaladevi Temple, Mahim
(West), Mumbai – 400016, Maharashtra |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
08.11.2011 |
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Com. Reg. No.: |
11-223696 |
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Capital
Investment / Paid-up Capital : |
Rs.100.000 Million |
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|
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CIN No.: [Company Identification
No.] |
U27310MH2011PTC223696 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMN19358D |
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PAN No.: [Permanent Account No.] |
AADCN7895E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Alloy Steel. |
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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 |
|
Maximum Credit Limit : |
USD 7300000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of “MAHINDRA AND MAHINDRA LIMITED”. It is an
established company having satisfactory track record. The company incurred losses from its operational activities. However, the rating takes into consideration strong financial and
managerial support that company receives from its parent company and it has
decent liquidity profile. Trade relations are fair. Business is active. Payments are reported to
be usually correct. In view strong holding company support, the company can be considered
for business dealings at usual trade terms and condition. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
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 : |
Mr. Sunil Shetty |
|
Designation : |
Finance Department |
|
Contact No.: |
91-2192-263070 |
|
Date : |
02.04.2015 |
LOCATIONS
|
Registered Office : |
74, Ganesh Apartment, L.J. Road, Opposite Sitaladevi Temple, Mahim
(West), Mumbai – 400016, Maharashtra, India |
|
Tel. No.: |
91-22-24444287 |
|
Fax No.: |
91-22-24458196 |
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E-Mail : |
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Website : |
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Factory/ Administrative Office
: |
MUSCO, Jagdish Nagar, Khopoli, Raigad
- 410216, Maharashtra, India |
|
Tel. No.: |
91-2192-260500/ 528/ 263318/ 263347 |
|
Fax No.: |
91-2192-263076/ 263073 |
DIRECTORS
AS ON 28.08.2014
|
Name : |
Mr. Uday Subrata Gupta |
|
Designation : |
Managing Director |
|
Address : |
D-40, Terrace Duplex, The Woods Kale Wadi Road, Waked Aundh Annexe,
Pune – 411057, Maharashtra, India |
|
Date of Birth/Age : |
13.11.1958 |
|
Date of Appointment : |
11.11.2011 |
|
Din No.: |
03514282 |
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|
|
|
Name : |
Mr. Hemant Hansraj Luthra |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
Flat No. 6, 68 Breach Candy Garden, Bhulabai Desai Road, Mumbai –
400026, Maharashtra, India |
|
Date of Birth/Age : |
18.04.1949 |
|
Date of Appointment : |
10.07.2012 |
|
Din No.: |
00231420 |
|
|
|
|
Name : |
Mr. Sanjay Vasant Joglekar |
|
Designation : |
Director |
|
Address : |
25, Shefale B-Makarand, Sahniwas Veer Savarkar Marg, Mahim (West),
Mumbai – 400016, Maharashtra, India |
|
Date of Birth/Age : |
09.10.1955 |
|
Date of Appointment : |
11.11.2011 |
|
Din No.: |
00209394 |
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|
|
|
Name : |
Mr. Daljit Lilaram Mirchandani |
|
Designation : |
Director |
|
Address : |
101, Sindhi Society Aundh, Pune – 411007, Maharashtra, India |
|
Date of Birth/Age : |
26.10.1947 |
|
Date of Appointment : |
10.08.2012 |
|
Din No.: |
00022951 |
|
|
|
|
Name : |
Nobuyuki Takumi Tanaka |
|
Designation : |
Director |
|
Address : |
109, Sugoudani, Himeji-Shi, Hyogo, Pin Code 6712243, Japan |
|
Date of Birth/Age : |
08.10.1948 |
|
Date of Appointment : |
05.09.2012 |
|
Din No.: |
06367343 |
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|
|
|
Name : |
Tomofumi Osaki |
|
Designation : |
Director |
|
Address : |
2-24-7-1007,Tamagawadai, Setagaya-ku, Tokyo, NA, Japan |
|
Date of Birth/Age : |
20.08.1964 |
|
Date of Appointment : |
21.05.2014 |
|
Din No.: |
06870060 |
|
|
|
|
Name : |
Kozo Takahashi |
|
Designation : |
Director |
|
Address : |
3-4-10-302 Ichiba Funabashi-shi, Chiba, 2730001, Japan |
|
Date of Birth/Age : |
06.03.1959 |
|
Date of Appointment : |
18.07.2014 |
|
Din No.: |
06921700 |
KEY EXECUTIVES
|
Name : |
Mr. Pradeep Shekara Salian |
|
Designation : |
Secretary |
|
Address : |
N 6/7, Ganpati Nivas, Bangur Nagar, Goregaon (West), Mumbai – 400090,
Maharashtra, India |
|
Date of Birth/Age : |
01.06.1964 |
|
Date of Appointment : |
03.08.2012 |
|
Pan No.: |
AHAPS0593F |
MAJOR SHAREHOLDERS
AS ON 28.08.2014
|
Names of Shareholders |
No. of Shares |
|
Mahindra Ugine Steel Company Limited, India |
5099996 |
|
Sanyo Special Steel Company Limited, Japan |
2900000 |
|
Mitsui and Company Limited, Japan |
2000000 |
|
Mahindra and Mahindra Limited Jointly with Luthra Hemant |
1 |
|
Mahindra and Mahindra Limited Jointly with Gupta Uday |
1 |
|
Mahindra and Mahindra Limited Jointly with Bhiwandiwala Zhooben |
1 |
|
Mahindra and Mahindra Limited Jointly with S. Durgashankar |
1 |
|
|
|
|
Total |
10000000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 28.08.2014
|
Category |
Percentage |
|
Foreign holdings [Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others] |
49.00 |
|
Bodies corporate |
51.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Alloy Steel. |
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Products : |
Alloy Steel |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
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Products : |
Alloy Steel |
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Countries : |
Worldwide |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Cash, Cheque and Credit |
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Purchasing : |
Cash, Cheque and Credit |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
80 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
Deloitte, Haskins and Sells Chartered Accountants |
|
Address : |
12, Dr. Annie Beasant Road, Opposite Shiv Sagar Estate, Worli, Mumbai – 400018, Maharashtra, India |
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PAN No: |
AACFD4815A |
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Ultimate Holding Company : |
Mahindra and
Mahindra Limited (upto 2nd October, 2013) |
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Holding Company : |
· Mahindra Ugine Steel Company Limited (upto 2nd October, 2013) · Mahindra and Mahindra Limited (from 3rd October, 2013) |
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Fellow Subsidiaries : |
·
Mahindra Forgings Limited [L27100MH1999PLC121285] ·
Mahindra Intertrade Limited
[U51900MH1978PLC020222] |
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Investing Parties : |
· Sanyo Special Steel Company Limited, Japan · Mitsui and Company Limited, Japan |
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Fellow subsidiaries
: |
· Mahindra Ugine Steel Company Limited (from 3rd October, 2013) · Mahindra Forgings Limited (upto 4th October, 2013) · Mahindra Intertrade Limited · Mahindra Logistics Limited · Mahindra Gears and Transmission Pvt. Limited · Mahindra Hinoday Industries Limited (upto 4th October, 2013) · Metalcastello S.P.A. |
CAPITAL STRUCTURE
AS ON 28.08.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 Million |
|
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Million |
|
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|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
100.000 |
100.000 |
0.100 |
|
(b) Reserves & Surplus |
2460.497 |
3143.881 |
(0.057) |
|
(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) |
2560.497 |
3243.881 |
0.043 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
543.750 |
742.716 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
50.000 |
50.000 |
0.000 |
|
(d) long-term
provisions |
45.346 |
46.934 |
0.000 |
|
Total Non-current
Liabilities (3) |
639.096 |
839.650 |
0.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
712.422 |
218.547 |
0.000 |
|
(b) Trade
payables |
1506.246 |
1623.126 |
0.050 |
|
(c) Other
current liabilities |
294.868 |
149.865 |
0.017 |
|
(d) Short-term
provisions |
37.041 |
14.979 |
0.000 |
|
Total Current
Liabilities (4) |
2550.577 |
2006.517 |
0.067 |
|
|
|
|
|
|
TOTAL |
5750.170 |
6090.048 |
0.110 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1830.308 |
1979.065 |
0.000 |
|
(ii) Intangible
Assets |
0.277 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
20.304 |
18.683 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
140.000 |
140.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
24.525 |
18.516 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
2015.414 |
2156.264 |
0.000 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1207.992 |
1399.396 |
0.000 |
|
(c) Trade
receivables |
1628.440 |
1634.545 |
0.000 |
|
(d) Cash
and cash equivalents |
755.398 |
767.811 |
0.110 |
|
(e) Short-term
loans and advances |
120.154 |
120.091 |
0.000 |
|
(f) Other
current assets |
22.772 |
11.941 |
0.000 |
|
Total
Current Assets |
3734.756 |
3933.784 |
0.110 |
|
|
|
|
|
|
TOTAL |
5750.170 |
6090.048 |
0.110 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
|
GROSS INCOME |
7694.647 |
5911.883 |
0.000 |
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
(291.408) |
(235.499) |
(0.057) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
180.778 |
130.291 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(472.186) |
(365.790) |
(0.057) |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
211.198 |
149.829 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
(683.384) |
(515.619) |
(0.057) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
(135.349) |
0.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
(683.384) |
(380.270) |
(0.057) |
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(68.34) |
(38.03) |
(5.70) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets) |
(%) |
(12.23) |
(8.69) |
(51.82) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.27) |
(0.16) |
(1.33) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.49 |
0.30 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.46 |
1.96 |
1.64 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Million |
Rs. In
Million |
Rs.
In Million |
|
Share Capital |
0.100 |
100.000 |
100.000 |
|
Reserves & Surplus |
(0.057) |
3143.881 |
2460.497 |
|
Net
worth |
0.043 |
3243.881 |
2560.497 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
742.716 |
543.750 |
|
Short term borrowings |
0.000 |
218.547 |
712.422 |
|
Total
borrowings |
0.000 |
961.263 |
1256.172 |
|
Debt/Equity
ratio |
0.000 |
0.296 |
0.491 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Gross Income |
0.000 |
5911.883 |
7694.647 |
|
|
|
|
30.156 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Gross Income |
0.000 |
5911.883 |
7694.647 |
|
Profit |
(0.057) |
(380.270) |
(683.384) |
|
|
|
(6.43%) |
(8.88%) |
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 |
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 |
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 |
---------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------- |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
NOTE:
The Registered Office of the company has been shifted from 101-104, Banaji
House, First Floor, Flora Fountain, Fort, Mumbai – 400001, Maharashtra,
India to the present address w.e.f. 11.11.2011.
PERFORMANCE:
Given the economic slowdown particularly that in the Auto segment during the year, the Steel and Ring business both suffered a loss. Due to a decrease in demand there was intense competitive pressure on pricing in the special alloy steel market and a consequent contraction in margin due to pricing pressures coupled with increase in input cost and a steep dollar devaluation. With the technical support of our joint venture partner’s management continues to undertake initiatives for increasing margin by way of rationalization of product mix and processes and further improvements in operating efficiencies, productivity and yield. The Company also foresees a significant increase in sales in the value added segments as process/quality audits by several global MNCs currently under way are expected to fructify into sales in the near future.
During the year, the Company sold 102,969 tonnes of alloy steel products. The Company registered sales revenue of Alloy and Steel products aggregating Rs.7031.117 Million for the year.
The Company also registered sales of 3,301 tonnes of Ring (Bearing Races) products for a value of Rs. 506.922 Million during the year.
The Company has incurred a loss of Rs.683.384 Million during the year.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10507668 |
12/06/2014 |
820,000,000.00 |
ICICI BANK LIMITED |
ICICI TOWER,NBCC PALACE,, BISM PITAMAH MARG, PRAGATI VIHAR,, NEW DELHI - 110003, INDIA |
C10268662 |
|
2 |
10424103 |
05/09/2014 * |
2,850,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, N.G.N. VAIDYA MARG,, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
C20762522 |
|
3 |
10370111 |
16/08/2012 |
2,850,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BANK, N.G.N.VAIDYA MARG, FORT,, MUMBAI, MAHARASHTRA - 400023, INDIA |
B45533650 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipment
·
Computer
·
Vehicles
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.62.59 |
|
|
1 |
Rs.92.46 |
|
Euro |
1 |
Rs.67.51 |
INFORMATION DETAILS
|
Information
Gathered by : |
SNJ |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
6 |
|
--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 |
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 |
|
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.