MIRA INFORM REPORT
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Report No. : |
320534 |
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Report Date : |
30.04.2015 |
IDENTIFICATION DETAILS
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Name : |
UIC UDYOG LIMITED [w.e.f.16.04.2007] |
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Formerly Known
As : |
UIC
WIRES LIMITED |
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Registered
Office : |
Anandlok, Block A, 1st Floor, 227, A. J. C. Bose Road, Kolkata –
700020, West Bengal |
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Tel. No.: |
91-33-22808811 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
21.12.1995 |
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Com. Reg. No.: |
21-076114 |
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Capital
Investment / Paid-up Capital : |
Rs. 67.000 Million |
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CIN No.: [Company Identification
No.] |
U27109WB1995PLC076114 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
CALU01985E |
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PAN No.: [Permanent Account No.] |
AAACU3431C |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer, Exporter and Importer of Steel Wires and Wire Products. |
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No. of Employees
: |
300 (Approximately) |
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RATING & COMMENTS
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MIRA’s Rating : |
B (26) |
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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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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. The company has processed weak operational performance which has
resulted into losses incurred from its operational activities. Rating further constrained on account of company’s weak financial risk
profile marked delays in debt servicing and restructuring of debt through CDR
package. Business is active. Payments are reported to be slow. The company can be considered for business dealings with great
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) |
|
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
|
Rating Agency Name |
CARE |
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Rating |
Long-term Bank facilities = B- |
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Rating Explanation |
Risk prone credit quality and carries very
high credit risk. |
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Date |
November 24, 2014 |
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Rating Agency Name |
CARE |
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Rating |
Short-term Bank facilities = A4 |
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Rating Explanation |
Minimal degree of safety and very high
credit risk. |
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Date |
November 24, 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. Manish Tripathi |
|
Designation : |
Chief Finance Manager |
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Contact No.: |
91-33-30588850 |
LOCATIONS
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Registered Office : |
Anandlok, Block A, 1st Floor, 227, A. J. C. Bose Road, Kolkata –
700020, West Bengal, India |
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Tel. No.: |
91-33-22808811/ 8812/ 8813/ 30588850 |
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Fax No.: |
91-33-22809492 |
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E-Mail : |
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Website : |
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Location : |
Rented |
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Locality : |
Commercial |
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Factory 1 : |
Iron and Steel
wires/ Card/ Gill/ Metapin Station Road, Khanyan, Hoogly, West Bengal, India |
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Factory 2 : |
Iron and Steel
wires Industrial Growth Centre, Phase III Kalyani, Nadia, West Bengal, India |
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Factory 3 : |
Wind Power Village Akrale, Taluka – Nandurbar, District Nandurbar, Maharashtra, India |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Bhanwar Lal Jajodia |
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Designation : |
Managing director |
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Address : |
CF-286, Sector-I, Salt Lake City, Kolkata - 700064, West Bengal, India |
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Date of Birth/Age : |
22.12.1949 |
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Qualification : |
Under Graduate |
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Date of Appointment : |
31.03.2011 |
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PAN No.: |
ACKPJ1856D |
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Voter ID No.: |
WB/20/139/735244 |
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DIN No.: |
00576094 |
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Other Directorship :
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Name : |
Mr. Ram Chandra Bajaj |
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Designation : |
Whole-time director |
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Address : |
CG-242, Sector-I, Salt Lake City, Kolkata - 700091, West Bengal, India |
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Date of Birth/Age : |
02.07.1952 |
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Qualification : |
Graduate |
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Date of Appointment : |
01.04.2002 |
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PAN No.: |
AFRPB9765M |
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Voter ID No.: |
RJ/08/063/444323 |
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DIN No.: |
00568295 |
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Name : |
Mr. Vishnu Prasad Jajodia |
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Designation : |
Director |
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Address : |
153K, Bagadiya Road, Sujangarh, District Churu, Sujangarh, District Birbhum – 331507, Rajasthan, India |
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Date of Birth/Age : |
21.03.1986 |
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Qualification : |
Under Graduate |
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Date of Appointment : |
30.09.2013 |
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DIN No.: |
06697563 |
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Other Directorship :
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KEY EXECUTIVES
|
Name : |
Mr. Manish Tripathi |
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Designation : |
Chief Finance Manager |
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Name : |
Jayanta Saha |
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Designation : |
Secretary |
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Address : |
Basu Villa, Ground Floor, 66 Kayastha Para Main Road, Kolkata - 700078, West Bengal, India |
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Date of Birth/Age : |
30.11.1961 |
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Date of Appointment : |
01.08.2001 |
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PAN No.: |
BBNPS9703B |
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Voter ID No.: |
WB/12/077/354240 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
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Bhanwar Lal Jajodia |
|
493518 |
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Mahendra Kumar Jajodia |
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277340 |
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Madhu Devi Jajodia |
|
354740 |
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Prity Agarwal |
|
701840 |
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UIC Finance Private Limited, India |
|
356000 |
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Kavita Kedia |
|
975012 |
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Swati Bhalotia |
|
813520 |
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Mayank Agarwal |
|
200000 |
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Madan Lal Jajodia (HUF) |
|
178600 |
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Ankita Jajodia |
|
839450 |
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Bhanwar Lal Jajodia (HUF) |
|
178600 |
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Mahendra Kumar Jajodia (HUF) |
|
184300 |
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Bajrang Jajodia |
|
227200 |
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Bajrang Jajodia (HUF) |
|
178600 |
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Sangita Jajodia |
|
230500 |
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Pooja Jajodia |
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193000 |
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Kunal Jajodia |
|
391630 |
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Akshat Jajodia |
|
282150 |
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UIC Industries Limited, India |
|
244000 |
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Total |
|
7300000 |
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
8.22 |
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Directors
or relatives of directors |
91.78 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Importer of Steel Wires and Wire Products. |
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Products/ Services : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
· Sri Lanka · Bangladesh |
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Imports : |
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Products : |
Raw Material |
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Countries : |
China |
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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 : |
End Users
· NTPC · NHPC · Kalpataru Power Transmission · Jyoti Structures Limited · KEC · Jharkhand State Electricity Board |
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No. of Employees : |
300 (Approximately) |
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Bankers : |
·
Industrial Development Bank of India 44;
Shakespearc Sarani, Kolkata - 700017, West Bengal, India · DBS Bank Limited Kolkata, West Bengal, India · State Bank of India Commercial Branch, Kolkata, West Bengal,
India |
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Facilities : |
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Auditors : |
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Name : |
Chhaparia and Associates Chartered Accountants |
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Address : |
8, Camac Street, Shantiniketan Building 5th
Floor, Suite No.502 and 515, Kolkata – 700017, West Bengal, India |
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PAN
No. : |
AADFC1689C |
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Associates : |
· UIC Industries Limited · UIC Finance Private Limited ·
IC Infrastructure India Private
Limited ·
Bhavya Innovation Software Private Limited ·
Rampurhat PSC Sleepers Limited |
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Other Related Party : |
Rampurhat PSC Sleepers
Limited |
CAPITAL STRUCTURE
AFTER 30.09.2014
Authorised Capital : Rs. 150.000 Million
Issued, Subscribed & Paid-up Capital : Rs. 75.000
Million
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 150.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6,700,000 |
Equity Shares |
Rs. 10/- each |
Rs. 67.000 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 |
|
|
|
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(a) Share Capital |
67.000 |
67.000 |
67.000 |
|
(b) Reserves & Surplus |
898.988 |
1344.078 |
1421.462 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
(2) Share
Application money pending allotment |
75.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
1040.988 |
1411.078 |
1488.462 |
|
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(3)
Non-Current Liabilities |
|
|
|
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(a) Long-term borrowings |
1521.612 |
501.975 |
514.018 |
|
(b) Deferred tax liabilities (Net) |
21.807 |
23.868 |
43.866 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
1543.419 |
525.843 |
557.884 |
|
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(4) Current Liabilities |
|
|
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(a)
Short term borrowings |
1068.987 |
1874.942 |
1951.989 |
|
(b)
Trade payables |
183.508 |
662.270 |
161.475 |
|
(c)
Other current liabilities |
76.294 |
164.920 |
115.076 |
|
(d)
Short-term provisions |
1.696 |
2.068 |
46.545 |
|
Total
Current Liabilities (4) |
1330.485 |
2704.200 |
2275.085 |
|
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TOTAL |
3914.892 |
4641.121 |
4321.431 |
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II.
ASSETS |
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|
|
|
(1) Non-current assets |
|
|
|
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(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
782.113 |
844.184 |
965.457 |
|
(ii)
Intangible Assets |
0.000 |
0.153 |
0.368 |
|
(iii)
Capital work-in-progress |
205.554 |
221.247 |
66.636 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
14.805 |
1.138 |
1.333 |
|
(d) Long-term Loan
and Advances |
507.306 |
531.353 |
512.505 |
|
(e)
Other Non-current assets |
12.185 |
13.078 |
19.526 |
|
Total
Non-Current Assets |
1521.963 |
1611.153 |
1565.825 |
|
|
|
|
|
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(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
568.429 |
647.945 |
645.152 |
|
(c)
Trade receivables |
1663.831 |
2211.227 |
1880.636 |
|
(d)
Cash and cash equivalents |
95.433 |
102.842 |
93.688 |
|
(e)
Short-term loans and advances |
65.236 |
67.441 |
136.061 |
|
(f)
Other current assets |
0.000 |
0.513 |
0.069 |
|
Total
Current Assets |
2392.929 |
3029.968 |
2755.606 |
|
|
|
|
|
|
TOTAL |
3914.892 |
4641.121 |
4321.431 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
439.378 |
5060.072 |
4497.345 |
|
|
|
Other Income |
6.029 |
8.705 |
6.198 |
|
|
|
TOTAL (A) |
445.407 |
5068.777 |
4503.543 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
228.079 |
2482.759 |
2693.821 |
|
|
|
Purchases of Stock-in-Trade |
41.933 |
1914.068 |
1073.359 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
83.033 |
(37.998) |
(281.122) |
|
|
|
Employees benefits expense |
27.629 |
78.793 |
72.498 |
|
|
|
Other expenses |
215.260 |
380.833 |
315.198 |
|
|
|
TOTAL (B) |
595.934 |
4818.455 |
3873.754 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(150.527) |
250.322 |
629.789 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
247.487 |
246.283 |
226.236 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(398.014) |
4.039 |
403.553 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
62.602 |
101.068 |
100.625 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(460.616) |
(97.029) |
302.928 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(15.526) |
(19.645) |
106.665 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(445.090) |
(77.384) |
196.263 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings (FOB Basis) |
3.719 |
46.780 |
29.529 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
0.000 |
32.410 |
6.181 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic
|
(66.43) |
(11.55) |
29.29 |
|
|
|
Diluted
|
(60.97) |
(11.55) |
29.29 |
|
Expected Sales (2014-2015): Rs. 1500.000 Million
The above information has been parted by Mr. Manish Tripathi (Chief
Finance Manager)
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
(101.30) |
(1.53) |
4.36 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
(34.26) |
4.95 |
14.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(12.47) |
(2.20) |
7.12 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.44) |
(0.07) |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.49 |
1.68 |
1.66 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.80 |
1.12 |
1.21 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
67.000 |
67.000 |
67.000 |
|
Reserves & Surplus |
1421.462 |
1344.078 |
898.988 |
|
Net
worth |
1488.462 |
1411.078 |
965.988 |
|
|
|
|
|
|
Long-term borrowings |
514.018 |
501.975 |
1521.612 |
|
Short term borrowings |
1951.989 |
1874.942 |
1068.987 |
|
Total
borrowings |
2466.007 |
2376.917 |
2590.599 |
|
Debt/Equity
ratio |
1.657 |
1.684 |
2.682 |
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 |
4497.345 |
5060.072 |
439.378 |
|
|
|
12.512 |
(91.317) |
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 |
4497.345 |
5060.072 |
439.378 |
|
Profit/ (Loss) |
196.263 |
(77.384) |
(445.090) |
|
|
4.36% |
(1.53%) |
(101.30%) |
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
Yes |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10501912 |
21/01/2015 * |
1,084,100,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, JEEVANDEEP, 1, MIDDLETON
STREET, JEEVANDEEP BUILDING, 2ND FLOOR, KOLKATA, WEST BENGAL - 700071, INDIA |
C41620428 |
|
2 |
10382781 |
24/04/2013 * |
450,500,000.00 |
DBS BANK LIMITED (ACTING AS SECURITY
TRUSTEE ON BEHALF |
4A, NANDALAL BASU SARANI, KOLKATA, WEST
BENGAL - 700071, INDIA |
B73971525 |
|
3 |
10343146 |
14/09/2012 * |
96,000,000.00 |
ICICI BANK LIMITED |
3A, GURUSADAY ROAD, 2ND FLOOR, KOLKATA,
WEST BENGAL - 700019, INDIA |
B59087981 |
|
4 |
10264302 |
10/11/2014 * |
2,455,100,000.00 |
IDBI BANK LIMITED |
CORPORATE BANKING GROUP, 44, SHAKESPEARE
SARANI, KOLKATA, WEST BENGAL - 700017, INDIA |
C32869786 |
|
5 |
10252578 |
21/01/2015 * |
1,371,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, JEEVANDEEP, 1, MIDDLETON
STREET, JEEVANDEEP BUILDING, 2ND FLOOR, KOLKATA, WEST BENGAL - 700071, INDIA |
C41618257 |
|
6 |
10187382 |
09/11/2009 |
6,000,000.00 |
3I INFOTECH TRUSTEESHIP SERVICES LIMITED |
6TH FLOOR, AKRUTL CENTRE POINT, MIDC
CENTRAL ROAD, ANDHERI EAST, MUMBAI, MAHARASHTRA - 400093, INDIA |
A73654428 |
|
7 |
10133590 |
18/12/2008 * |
179,000,000.00 |
3I INFOTECH TRUSTEESHIP SERVICES LIMITED |
3RD TO 6TH FLOOR, INTERNATIONAL INFOTECH PARK,
TOWER NO.5, VASHI RAILWAY STATION COMPLEX, VASHI, NAVI MUMBAI, MAHARASHTRA -
400703, INDIA |
A53117230 |
|
8 |
10093192 |
19/03/2008 |
89,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI,
BARODA, GUJARAT - 390015, INDIA |
A34199992 |
|
9 |
10095767 |
05/11/2009 * |
95,000,000.00 |
3I INFOTECH TRUSTEESHIP SERVICES LIMITED |
6TH FLOOR, AKRUTL CENTRE POINT, MIDC
CENTRAL ROAD, ANDHERI EAST, MUMBAI, MAHARASHTRA - 400093, INDIA |
A73654345 |
|
10 |
10071298 |
04/10/2007 |
50,000,000.00 |
THE HONGKONG & SHANGHAI BANKING
CORPORATION LIMITED |
HONGKONG HOUSE, 31 B B D BAG, KOLKATA, WEST
BENGAL - 700001, INDIA |
A24339095 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Rupee term loans from banks |
29.847 |
0.000 |
|
SHORT TERM BORROWINGS |
|
|
|
Loans repayable on demand |
0.000 |
80.000 |
|
|
|
|
|
Total |
29.847 |
80.000 |
REVIEW OF PERFORMANCE
During the year, the gross
turnover of the Company was Rs. 468.200 Million against Rs. 5417.000 Million in
the previous year. There is Loss before Tax of Rs. 460.600 Million against loss
of Rs. 97.000 Million in the previous year. However, these figures are not
comparable as the Company could not run its manufacturing operations for the
full year due to suspension of works at its Wires Divisions.
GUJARAT PROJECTS
Due to unfavourable economic
scenario, the Company has still kept on hold the proposed 180,000 MT per annum
Capacity Wire Drawing Unit
for manufacture of various types of Non-alloy Steel Wires (both Galvanised and
Non-Galvanised) at Bharuch in the state of Gujarat.
SALE OF WIND MILLS
As per the restructuring
scheme, subsequent to the Balance Sheet date, the Company has sold all the 4
Nos. Wind Power Generating Units located at Coimbatore in the state of
Tamilnadu and after re-payment of the balance term loan amount for the said
project from the sale proceeds, infused the surplus cash in the common pool.
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and equipment
·
Factory equipments
·
Furniture and fixtures
·
Vehicles
·
Office equipment
·
Other equipments
·
Computer software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 63.20 |
|
|
1 |
Rs. 97.01 |
|
Euro |
1 |
Rs. 69.34 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
-- |
|
--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 |
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 |
|
26 |
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.