MIRA INFORM REPORT
|
Report No. : |
318355 |
|
Report Date : |
22.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
VIRAJ PROFILES LIMITED (w.e.f. 19.03.1998) |
|
|
|
|
Formerly Known
As : |
VIRAJ GASES LIMITED |
|
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|
|
Registered
Office : |
G-34, MIDC Tarapur Industrial Area, Boisar, Taluka-Palghar, Tarapur,
District Thane – 401 506, Maharashtra |
|
Tel. No.: |
91-2525-279702 |
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|
|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2014 |
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|
|
|
Date of
Incorporation : |
02.02.1996 |
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|
|
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Com. Reg. No.: |
11-096835 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1464.638 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28113MH1996PLC096835 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMV07253B |
|
|
|
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PAN No.: [Permanent Account No.] |
AABCV1740N |
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|
|
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Legal Form : |
A Closely Held Public Limited Liability Company |
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|
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Line of Business
: |
Subject is engaged in production and export of value added
stainless steel long products. |
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No. of Employees
: |
6000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 33000000 |
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|
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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 an established company having satisfactory track record. The company possesses a decent financial profile marked by healthy
networth position during 2014. The ratings also take into consideration the elongated operating
cycle, exposure to volatility in raw material prices and foreign exchange
rates, with substantial support to group companies. However, trade relations are fair. Business is active. Payment terms
are reported as usually correct. In view of well-established and experienced promoters, the company 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 – 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
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities: “BBB+” |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
11 November, 2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities: “A2” |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
11 November, 2014 |
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. R.K. Jain |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-9049991009 |
|
Date : |
17.04.2015 |
LOCATIONS
|
Registered Office/Marketing Office : |
G-34, MIDC Tarapur Industrial Area, Boisar, Taluka-Palghar, District, Taraoure, Thane - 401 506, Maharashtra |
|
Tel. No.: |
91-2525-279702 |
|
Mob No.: |
91-9049998009 (Mr. R.K. Jain) |
|
Fax No.: |
91-2525-260159/274420/279701 |
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E-Mail : |
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|
Website : |
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|
Location : |
Owned |
|
|
|
|
Corporate Office : |
1st Floor, Viraj Tower Westen Highway, Andheri (East), Mumbai - 400101, Maharashtra, India |
|
|
|
|
Factory 1: |
G-76/77, MIDC, Tarapur Industrial Area, Boisr, Thane-401506, Maharashtra, India |
|
Tel. No.: |
91-2525-260156 / 271055 |
|
Mobile No. : |
91-9049991009 (Mr. R K Jain, Finance Manager) |
|
Fax No.: |
91-2525-271369 |
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E-Mail : |
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|
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Factory 2 : |
BRIGHT BAR DIVISION / WIRE AND WIRE RODS DIVISION G-33, MIDC Tarapur Industrial Area, (Engineering Zone), District Thane- 401506, Maharashtra, India |
|
Tel. No.: |
91-2525-261923/ 271365/68/261514/18/271055 (Direct)/271495 (Direct) |
|
Res. No: |
91-22-26134335/26134366 |
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Fax No.: |
91-2525-270431/272448/260159 (Direct) |
|
Res. Fax No.: |
91-22-22645858 |
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E-Mail : |
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Factory 3 : |
angle AND flat bars division G-76, MIDC, Tarapur, Industrial Area, (Engineering Zone), Boisar, Dist Thane – 401 506, Maharashtra, India |
|
Tel. No.: |
91-2525-2560156 / 57/58/261519/20/21/271729 / 271365 (Direct)/271365-68/ 22614284 |
|
Res. No: |
91-22-26134335/26134366 |
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Fax No.: |
91-2525-271369/270431 / 272448 |
|
Res. Fax No.: |
91-22-22645858 |
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E-Mail : |
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Factory 4: |
Fasteners Division G-1/3, MIDC Tarapur Industrial Area, Boisar, District Thane-401506, Maharashtra, India |
|
Tel No.: |
91-2525-279702-013/ 261495-96/ 260656-54 |
|
Fax No.: |
91-2525-260651 |
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E mail: |
|
|
|
|
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Factory 5: |
Stainless Steel Making Division G-34, MIDC Tarapur Industrial Area, (Engineering Zone), Dist. Thane – 401506, Maharashtra, India |
|
Tel No.: |
91-22-22613056/22614284 |
|
Fax No.: |
91-22-22612980/22659713 |
|
E mail: |
DIRECTORS
As on: 30.09.2014
|
Name : |
Mr. Neeraj Raja
Kochhar |
|
Designation : |
Managing Director |
|
Address : |
4, Vikas Park,
Juhu Tara Road, Juhu, Mumbai – 400 049, Maharashtra, India |
|
Date of Birth/Age : |
16.09.1958 |
|
Qualification : |
Commerce Graduate |
|
Date of Appointment : |
01.11.2006 |
|
DIN No.: |
00115140 |
|
PAN No.: |
AMXPK6610R |
|
|
|
|
Name : |
Mrs. Renu Neeraj
Kochhar |
|
Designation : |
Managing Director |
|
Address : |
4, Vikas Park,
Juhu Tara Road, Juhu, Mumbai – 400 049, Maharashtra, India |
|
Date of Birth/Age : |
10.10.1958 |
|
Qualification : |
MA |
|
Date of Appointment : |
25.04.1997 |
|
DIN No.: |
00115236 |
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PAN No.: |
AARPK1540N |
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|
|
|
Name : |
Mr. Tharmapuram Subramaniam
Narayanasami |
|
Designation : |
Director |
|
Address : |
FLT-1B, The Lords Apartment, Sathya Dev Avenue, R.A. Puram, Chennai –
600 028, Tamilnadu, India |
|
Date of Birth/Age : |
18.05.1949 |
|
Qualification : |
B. Sc |
|
Date of Appointment : |
10.04.2012 |
|
DIN No.: |
01786981 |
|
|
|
|
Name : |
Mr. Atul Kumar Bhagwatiprasad Joshi
|
|
Designation : |
Director |
|
Address : |
10 Pratiksha Apartments Opposites Saraswati High School Maninagar,
Ahmedabad – 380008, Gujarat, India |
|
Date of Birth/Age : |
16.07.1952 |
|
Date of Appointment : |
30.12.2012 |
|
DIN No.: |
00115716 |
KEY EXECUTIVES
|
Name : |
Mr. Gaurav Raghuvanshi |
|
Designation : |
Secretary |
|
Address : |
Flat No.2, Shanti Gang A Co-operative
Society Kashav Nagar, Boisar, Thane – 401501, Maharashtra, India |
|
Date of Birth/Age : |
11.08.1988 |
|
Date of Appointment : |
08.07.2013 |
|
PAN No.: |
AWWPR0645Q |
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|
|
|
Name : |
Mr. R.K. Jain |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 10.09.2014
SHAREHOLDING DETAILS
FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on: 10.09.2014
|
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 |
6.85 |
|
Bodies corporate |
82.13 |
|
Directors or relatives of Directors |
10.83 |
|
Other top fifty shareholders |
0.19 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in production and export of value added
stainless steel long products. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Stainless steel |
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Countries : |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Cash, Advance Payment, Cheque and Credit |
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Purchasing : |
Cash, Advance Payment, Cheque and Credit |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers and Manufacturer
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No. of Employees : |
6000 (Approximately) |
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Bankers : |
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Facilities : |
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Financial Institution: |
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Auditors : |
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|
Name : |
B S R and Associates Chartered Accountants |
|
Address : |
Lodha Excelus, 1st Floor, Apollo Mills Compound, N. M. Joshi Marg, Mahalakshmi, Mumbai – 400 011, Maharashtra, India |
|
Tel. No.: |
91-22-30440800 |
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Fax No.: |
91-22-30440900 |
|
PAN No.: |
AABFD7919A |
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Holding Company : |
CIN No.: U67100MH2007PTC175256 |
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Subsidiary : |
CIN No : U63090MH2013PTC249735 |
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|
Enterprises which are owned, or have significant influence of or are partners
with Key management personnel and their relatives : |
(CIN No.: U28939MH2004PTC149545)
(CIN No.: U45200MH1995PTC093238)
(CIN No.: U99999MH1997PTC111526)
(CIN No.: U67120MH1997PTC110163)
CIN No : U45200MH1995PTC093238
CIN No : U29213MH2007PTC169412 |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000000 |
Equity Shares |
Rs.10/- each |
Rs. 1500.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1464637649 |
Equity Shares |
Rs.10/- each |
Rs. 1464.638
Million |
|
|
|
|
|
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 |
1464.638 |
1341.561 |
1341.561 |
|
(b) Reserves & Surplus |
10263.054 |
8978.088 |
8275.238 |
|
(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) |
11727.692 |
10319.649 |
9616.799 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
5482.977 |
5194.173 |
3810.489 |
|
(b) Deferred tax liabilities (Net) |
166.036 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Long-term
provisions |
162.815 |
180.668 |
114.482 |
|
Total Non-current
Liabilities (3) |
5811.828 |
5374.841 |
3924.971 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
18869.360 |
18030.290 |
8940.470 |
|
(b) Trade
payables |
5126.737 |
4797.027 |
8258.322 |
|
(c) Other
current liabilities |
3578.756 |
3067.669 |
3383.907 |
|
(d) Short-term
provisions |
8.050 |
7.887 |
92.067 |
|
Total Current
Liabilities (4) |
27582.903 |
25902.873 |
20674.766 |
|
|
|
|
|
|
TOTAL |
45122.423 |
41597.363 |
34216.536 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
13960.831 |
8920.683 |
9453.968 |
|
(ii) Intangible
Assets |
19.723 |
19.958 |
9.013 |
|
(iii)
Capital work-in-progress |
954.072 |
4167.583 |
1341.361 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1602.624 |
1577.673 |
1498.063 |
|
(c) Deferred tax assets (net) |
0.000 |
84.814 |
33.845 |
|
(d) Long-term Loan and Advances |
1786.296 |
1808.868 |
2247.236 |
|
(e) Other
Non-current assets |
548.373 |
62.387 |
712.833 |
|
Total Non-Current
Assets |
18871.919 |
16641.966 |
15296.319 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
8.877 |
|
(b)
Inventories |
10051.888 |
9564.974 |
8024.068 |
|
(c) Trade
receivables |
2479.666 |
888.375 |
1921.175 |
|
(d) Cash
and cash equivalents |
4284.704 |
3580.816 |
3310.884 |
|
(e)
Short-term loans and advances |
8354.913 |
9673.439 |
5505.604 |
|
(f) Other
current assets |
1079.333 |
1247.793 |
149.609 |
|
Total
Current Assets |
26250.504 |
24955.397 |
18920.217 |
|
|
|
|
|
|
TOTAL |
45122.423 |
41597.363 |
34216.536 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
48591.748 |
47247.732 |
46957.876 |
|
|
|
Other Income |
524.701 |
477.253 |
326.318 |
|
|
|
TOTAL (A) |
49116.449 |
47724.985 |
47284.194 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
30808.035 |
31091.018 |
30766.029 |
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
(28.659) |
(1116.710) |
1309.198 |
|
|
|
Employee benefit expense |
1728.194 |
1647.833 |
1255.586 |
|
|
|
Other expenses |
12379.282 |
11400.105 |
8910.671 |
|
|
|
TOTAL
(B) |
44886.852 |
43022.246 |
42241.484 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
4229.597 |
4702.739 |
5042.710 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
2111.627 |
2381.969 |
2945.694 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2117.970 |
2320.770 |
2097.016 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
1170.608 |
1257.861 |
1051.558 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
947.362 |
1062.909 |
1045.458 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
319.319 |
360.059 |
263.968 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
628.043 |
702.850 |
781.490 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F. O. B. Value of Exports |
42832.192 |
39811.072 |
40881.799 |
|
|
TOTAL EARNINGS |
42832.192 |
39811.072 |
40881.799 |
|
|
|
|
|
|
|
|
|
|
IMPORT |
|
|
|
|
|
|
Raw materials |
27898.440 |
26247.011 |
NA |
|
|
|
Capital goods |
916.860 |
829.234 |
NA |
|
|
|
Consumables |
933.447 |
681.999 |
NA |
|
|
|
TOTAL IMPORT |
29748.747 |
27758.244 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.46 |
0.52 |
0.53 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
1.29 |
1.49 |
1.66 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
8.70 |
9.95 |
10.74 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.23 |
2.97 |
3.34 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08 |
0.10 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.08 |
2.25 |
1.33 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.95 |
0.96 |
0.92 |
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 |
1341.561 |
1341.561 |
1464.638 |
|
Reserves & Surplus |
8275.238 |
8978.088 |
10263.054 |
|
Net worth |
9616.799 |
10319.649 |
11727.692 |
|
|
|
|
|
|
long-term borrowings |
3810.489 |
5194.173 |
5482.977 |
|
Short term borrowings |
8940.470 |
18030.290 |
18869.360 |
|
Total borrowings |
12750.959 |
23224.463 |
24352.337 |
|
Debt/Equity ratio |
1.326 |
2.251 |
2.076 |
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) |
|
Sales |
46957.876 |
47247.732 |
48591.748 |
|
|
|
0.617 |
2.845 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
46957.876 |
47247.732 |
48591.748 |
|
Profit |
781.490 |
702.850 |
628.043 |
|
|
1.66% |
1.49% |
1.29% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
ANALYSIS OF
PERFORMANCE FOR 2013-14:
The sales and other income of the Company have been increased to Rs.
491160.000 Million as against Rs. 477240.000 Million in the previous year.
The business environment continues to be challenging on account of high
volatiles in the price of nickel, a major raw material of the Company. Sluggish
demand combined with ongoing volatility in raw materials has affected the
profit. The Company is all set to meet the dynamic business environment and the
management is optimistic about the bright future of the Company.
DEVELOPMENTS:
The Company has completed its project for its project for Fully
Automatic Small Section Rolling Mill with on-line Pickling & Packing
facilities and declared commercial operational date as 25th March, 2014.
PRACTICE GOOD
CAPITAL MANAGEMENT DISCIPLINE:
The steel industry is relatively capital intensive and we therefore
promote capital management discipline to improve our capital efficiency. We
will continue to focus on our Capital Expenditure Programmers for elimination
of production bottlenecks and to improve product capabilities to meet the
requirements for higher value-added products. Where appropriate, we utilize our
in-house design, engineering and fabrication capabilities to reduce the capital
cost of projects.
NOTE:
The registered office of the company has been shifted from G-76, MIDC, Tarapur Industrial Area, Tarapur – 400 045, Maharashtra to the present address w.e.f. 17.02.2009.
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As on 31.03.2014 |
As on 31.03.2013 |
|
Long term
borrowings |
|
|
|
Non-convertible debentures others |
0.000 |
1250.000 |
|
Borrowing from government semi-government bodies |
45.309 |
57.173 |
|
Short Term
Borrowings |
|
|
|
Intercorporate borrowings |
0.000 |
23.772 |
|
Total |
45.309 |
1330.945 |
INDEX OF CHARGES:
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10543440 |
09/01/2015 |
64,000,000.00 |
BMW FINANCIAL SERVICES PRIVATE LIMITED |
DLF CYBER CITY, PHASE II, BUILDING NO. 10, TOWER |
C40657124 |
|
2 |
10536063 |
09/12/2014 |
6,670,000,000.00 |
ANDHRA BANK |
NANAVATI MAHALAYA, 18, HOMI MODI STREET, FORT BRANCH, MUMBAI - 400023, MAHARASHTRA, INDIA |
C36669240 |
|
3 |
10524113 |
22/09/2014 |
18,225,000.00 |
SREI EQUIPMENT FINANCE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
C25989278 |
|
4 |
10524369 |
22/09/2014 |
27,923,000.00 |
SREI EQUIPMENT FINANCE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
C26833822 |
|
5 |
10520977 |
27/08/2014 |
1,080,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, 102, NATRAJ, 194, SIRM. V. ROAD, W E HIGHWAY-METRO JUNCTION ANDHERI, MUMBAI - 400069, MAHARASHTRA, INDIA |
C21519889 |
|
6 |
10514058 |
13/08/2014 |
5,080,000,000.00 |
AXIS TRUSTEE SERVICES LIMITED |
AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI - 400025, MAHARASHTRA, INDIA |
C15738156 |
|
7 |
10515067 |
22/07/2014 |
280,000,000.00 |
BANK OF INDIA |
NARIMAN POINT LARGE CORPORATE BRANCH, 92-93, FREE PRESS HOUSE, 215, NARIMAN POINT, MUMBAI - 400021, MAHARASHTRA, INDIA |
C16499782 |
|
8 |
10506467 |
19/06/2014 |
693,000,000.00 |
INDIAN OVERSEAS BANK |
FORT BRANCH, TAMRIND HOUSE, 30 & 32 TAMRIND LANE, MUMBAI - 400023, MAHARASHTRA, INDIA |
C09584285 |
|
9 |
10505006 |
10/06/2014 |
6,775,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI - 400013, MAHARASHTRA, INDIA |
C08188229 |
|
10 |
10488992 |
19/04/2014 |
10,292,000.00 |
HDFC BANK LIMITED |
HDFC BANK LIMITED, LOWER PAREL W, MUMBAI - 400013, MAHARASHTRA, INDIA |
C03061876 |
* Date of charge modification
INDE OF CHARGES:
· Land
· Building
· Plant and Machinery
· Furniture and Fixtures
· Office Equipment
· Computer
· Vehicles
· 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.62.92 |
|
|
1 |
Rs.93.57 |
|
Euro |
1 |
Rs.67.34 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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.