MIRA INFORM REPORT
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Report No. : |
319780 |
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Report Date : |
29.04.2015 |
IDENTIFICATION DETAILS
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Name : |
RAMYA BALAJI ALLOY PRIVATE LIMITED (w.e.f. 03.12.2014) |
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Formerly Known
as : |
BALAJI
SHARU IRON AND STEEL PRIVATE LIMITED |
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Registered
Office : |
Plot No. 17, IInd Floor, K. S. Estate, Nichi Mangli, Adj. Phase-VII, Focal Point, Ludhiana – 141010, Punjab |
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Tel. No.: |
Not Available |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
08.02.2008 |
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Com. Reg. No.: |
031653 |
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Capital
Investment / Paid-up Capital : |
Rs. 2.290 Million |
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CIN No.: [Company Identification
No.] |
U27100PB2008PTC031653 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Provide end to end Integrated Solution for Castings. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B (28) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 37000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. Management has reported modest networth base, high working capital
intensive and modest operations along with low net profitability during FY14. However, trade relations seem to be fair. Business is active. Payment
terms are reported as slow. In view of limited scale of its operations, the company can be
considered for small to mediocre business dealings with caution. |
ECGC Country Risk Classification List – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
LOCATIONS
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Registered Office : |
Plot No. 17, IInd Floor, K. S. Estate, Nichi Mangli, Adj.
Phase-VII, Focal Point, Ludhiana – 141010, Punjab, India |
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Tel. No. : |
Not Available |
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Fax No. : |
Not Available |
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E-Mail : |
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Website : |
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Corporate Office : |
Lakhowal Road, Tehsil Kumkalan, Kohara, Ludhiana - 141112, Punjab, India |
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E-Mail : |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Chetan Garg |
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Designation : |
Director |
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Address : |
1547, Urban Estate, Jamal Pur, Ludhiana - 141010, Punjab, India |
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Date of Birth/Age : |
01.07.1987 |
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Date of Appointment : |
01.07.2008 |
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DIN No. : |
00282527 |
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Other Directorship :
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Name : |
Kewal Krishan Garg |
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Designation : |
Director |
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Address : |
1547 Phase-Ii, Urban Estate Jamalpur, Ludhiana - 141010, Punjab, India |
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Date of Birth/Age : |
16.04.1958 |
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Date of Appointment : |
08.02.2008 |
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DIN No. : |
00573603 |
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Other Directorship :
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Name : |
Mr. Vijay Kumar Sharma |
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Designation : |
Additional director |
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Address : |
P.B. Road, Jugsalai, Jamshedpur - 831006, Jharkhand, India |
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Date of Birth/Age : |
23.07.1975 |
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Date of Appointment : |
02.01.2015 |
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DIN No. : |
01987771 |
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Other Directorship :
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
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Kewal Krishan Garg |
31040 |
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Anisha Garg |
25000 |
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Kewal Krishan HUF |
100 |
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Kunal Garg |
100 |
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Chetan Garg |
40100 |
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Surinder Kumar |
100 |
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Baldev Krishan Garg |
20100 |
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Kamal Bansal |
25000 |
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Manoj Garg |
10000 |
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Gaurav Garg |
44000 |
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Mahesh Kumar Singla |
10000 |
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Kamal Kant |
10 |
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Veena Rani |
10 |
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Ranjit Singh |
10000 |
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Bimla Devi |
10 |
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Rekha Garg |
10 |
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Anju Bansal |
4000 |
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Yogesh Bansal |
1000 |
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Mayor Garg |
8000 |
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Pawan Commodities Limited, India |
10 |
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Kalpataru Viapaar Limited, India |
10 |
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Nikita Garg |
100 |
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Piyush Garg |
100 |
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Baldev Krishan Garg HUF |
100 |
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Sunita Garg |
100 |
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Nicey Garg |
10 |
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Total |
229010 |
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
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Category |
Percentage of Holding |
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Directors or relatives of Directors |
74.00 |
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Other top fifty shareholders |
26.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Provide end to end Integrated Solution for Castings. |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
-- |
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Imports : |
-- |
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Terms : |
-- |
PRODUCTION STATUS:
NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
· Indian Overseas Bank, Civil Lines, Ludhiana - 141001, Punjab, India ·
Punjab National Bank ·
HDFC Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
P. K. Goel and Associates Chartered Accountants |
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Address : |
63, Rose Enclave, Civil Lines, Ludhiana – 141001, Punjab, India |
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Tel. No. : |
91-161-2410386 |
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Income-tax
PAN of auditor or auditor's firm : |
ABZPG5680Q |
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Memberships : |
-- |
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Collaborators : |
-- |
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Enterprises over which key management
personnel and relative of such personnel is able to exercise significant
influence or control: |
· Mission Auto India (India) Private Limited · Mahavir Exports · Vikrant Components India Private Limited · Sharu Steel Private Limited · Mass Metal Private Limited |
CAPITAL STRUCTURE
After 30.09.2014
Authorised Capital : Rs. 3.500 Million
Issued, Subscribed & Paid-up Capital : Rs.
2.290 Million
As on 30.09.2014
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
250,000 |
Equity Shares |
Rs.10/- each |
Rs. 2.500 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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229,010 |
Equity Shares |
Rs.10/- each |
Rs. 2.290 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 |
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(1)Shareholders'
Funds |
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(a) Share Capital |
2.290 |
2.290 |
2.290 |
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(b) Reserves & Surplus |
10.788 |
10.627 |
10.500 |
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(c) Money
received against Share Warrants |
0.000 |
0.000 |
0.000 |
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(2)
Share Application Money Pending Allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
13.078 |
12.917 |
12.790 |
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(3) Non-Current
Liabilities |
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(a) Long-term Borrowings |
46.192 |
48.629 |
32.417 |
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(b) Deferred Tax Liabilities (Net) |
0.000 |
0.000 |
0.000 |
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(c) Other Long Term
Liabilities |
0.000 |
0.000 |
0.000 |
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(d) Long-Term Provisions |
0.000 |
0.000 |
0.000 |
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Total Non-Current
Liabilities (3) |
46.192 |
48.629 |
32.417 |
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(4) Current Liabilities |
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(a) Short
term Borrowings |
17.169 |
24.648 |
12.493 |
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(b) Trade
Payables |
38.430 |
17.725 |
39.504 |
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(c) Other
Current Liabilities |
5.263 |
32.066 |
4.592 |
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(d) Short-Term
Provisions |
0.112 |
0.062 |
0.288 |
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Total Current
Liabilities (4) |
60.974 |
74.501 |
56.877 |
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TOTAL |
120.244 |
136.047 |
102.084 |
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II.
ASSETS |
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(1) Non-Current Assets |
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(a) Fixed
Assets |
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(i)
Tangible Assets |
40.600 |
47.121 |
14.122 |
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(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
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(iii)
Capital Work-in-progress |
0.854 |
0.000 |
11.882 |
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(iv)
Intangible Assets under Development |
0.000 |
0.000 |
0.000 |
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(b) Non-Current Investments |
1.845 |
1.845 |
1.945 |
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(c) Deferred Tax Assets (net) |
0.000 |
0.000 |
0.000 |
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(d)
Long-Term Loan and Advances |
3.804 |
3.805 |
6.321 |
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(e) Other Non-Current
Assets |
0.000 |
0.000 |
0.015 |
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Total Non-Current
Assets |
47.103 |
52.771 |
34.285 |
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(2) Current Assets |
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(a)
Current Investments |
0.000 |
0.000 |
0.000 |
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(b)
Inventories |
22.494 |
14.150 |
10.189 |
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(c) Trade
Receivables |
39.783 |
22.041 |
44.473 |
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(d) Cash
and Cash Equivalents |
4.228 |
35.398 |
5.953 |
|
(e)
Short-Term Loans and Advances |
6.636 |
11.687 |
7.184 |
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(f) Other
Current Assets |
0.000 |
0.000 |
0.000 |
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Total
Current Assets |
73.141 |
83.276 |
67.799 |
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|
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TOTAL |
120.244 |
136.047 |
102.084 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
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SALES |
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Income |
91.715 |
99.262 |
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Other Income |
0.611 |
10.335 |
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TOTAL |
92.326 |
109.597 |
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Less |
EXPENSES |
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TOTAL |
86.105 |
105.386 |
NA |
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PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
6.221 |
4.211 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
5.954 |
3.958 |
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PROFIT/
(LOSS) BEFORE TAX |
0.267 |
0.253 |
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Less |
TAX |
0.081 |
0.061 |
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PROFIT/
(LOSS) AFTER TAX |
0.186 |
0.192 |
0.920 |
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EARNINGS IN
FOREIGN CURRENCY |
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High Sea Sale |
14.593 |
0.000 |
0.000 |
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TOTAL EARNINGS |
14.593 |
0.000 |
0.000 |
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IMPORTS |
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Purchase of Stock-in-Trade |
13.006 |
0.000 |
0.000 |
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TOTAL IMPORTS |
13.006 |
0.000 |
0.000 |
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|
|
|
Earnings /
(Loss) Per Share (Rs.) |
0.81 |
0.85 |
4.02 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
0.20 |
0.19 |
NA |
|
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Operating Profit Margin (PBDIT/Sales) |
(%) |
6.78 |
4.24 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.23 |
0.19 |
NA |
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|
|
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Return on Investment (ROI) (PBT/Networth) |
|
0.02 |
0.02 |
NA |
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Debt Equity Ratio (Total Debt/Networth) |
|
4.84 |
5.67 |
3.51 |
|
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|
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|
|
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Current Ratio (Current Asset/Current Liability) |
|
1.20 |
1.12 |
1.19 |
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 |
2.290 |
2.290 |
2.290 |
|
Reserves & Surplus |
10.500 |
10.627 |
10.788 |
|
Net
worth |
12.790 |
12.917 |
13.078 |
|
|
|
|
|
|
long-term Borrowings |
32.417 |
48.629 |
46.192 |
|
Short-term Borrowings |
12.493 |
24.648 |
17.169 |
|
Total
borrowings |
44.910 |
73.277 |
63.361 |
|
Debt/Equity
ratio |
3.511 |
5.673 |
4.845 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
99.262 |
91.715 |
|
|
|
(7.603) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
99.262 |
91.715 |
|
Profit |
0.192 |
0.186 |
|
|
0.19% |
0.20% |
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 |
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10366795 |
17/10/2014 * |
66,243,000.00 |
INDIAN OVERSEAS BANK |
CIVIL LINES BRANCH, LUDHIANA, PUNJAB - 141001, INDIA |
C31398035 |
|
2 |
10487590 |
01/02/2012 |
110,000,000.00 |
INDIAN OVERSEAS BANK |
CIVIL LINES, LUDHIANA, PUNJAB - 141001, INDIA |
B41150384 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans from
Directors/ Shareholders/ Related Parties |
|
|
|
K.K. Garg |
0.467 |
4.467 |
|
Baldev Garg |
2.500 |
2.500 |
|
Anisha Garg |
3.365 |
2.865 |
|
Chetan Garg |
3.500 |
0.000 |
|
Baldev Garg (HUF) |
0.150 |
0.150 |
|
K.K. Garg (HUF) |
0.036 |
0.136 |
|
Nikita Garg |
0.919 |
0.919 |
|
Gaurav Garg |
3.148 |
5.148 |
|
Mayor Garg |
0.285 |
0.285 |
|
Piyush Garg |
0.150 |
0.150 |
|
Bimla Devi |
2.992 |
3.992 |
|
Rekha Garg |
3.700 |
3.700 |
|
Sunita Garg |
0.693 |
0.693 |
|
Nicey Garg |
0.241 |
0.120 |
|
Total |
22.146 |
25.125 |
CHANGE OF ADDRESS
The registered office of the company has been shifted from 1st Floor, Booth No.9, Phase-VII, Focal Point, Ludhiana – 141010, Punjab, India to the present address w.e.f. 23.02.2012.
FIXED ASSETS
· Land
· Building
· Plant and Equipment’s
· Furniture and Fitting
· Vehicles
· Office Equipment’s
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. 63.33 |
|
|
1 |
Rs. 96.52 |
|
Euro |
1 |
Rs. 68.93 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
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 |
YES |
|
--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.