MIRA INFORM REPORT
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Report No. : |
305666 |
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Report Date : |
04.02.2015 |
IDENTIFICATION DETAILS
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Name : |
SREE METALIKS LIMITED |
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Registered
Office : |
8/1, New |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
28.11.1995 |
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Com. Reg. No.: |
21-075633 |
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Capital Investment
/ Paid-up Capital : |
Rs.228.791 millions |
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CIN No.: [Company Identification
No.] |
U26939WB1995PLC075633 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAECS1828F |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is primarily engaged in the business of manufacture
and sale of iron and steel products and also engaged in electricity
generation for own consumption. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca (12) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Management of the company has failed to file its financial after 2012 with the Government Department. As per Registrar of companies the date of Balance sheet i.e., Financials filed is shown as 31st March, 2012 but the documents related to the financials for the year 2012 are not available from any sources. However, business is active. Payment terms are reported to be unknown.
The company can be considered for business dealings on a safe and
secured 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
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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
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Rating Agency Name |
ICRA |
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Rating |
Fund Based Facilities (cash Credit): D (Suspended) |
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Rating Explanation |
Expected to be in default. |
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Date |
February, 2013 |
Reason for suspension:
The suspension follows ICRA’s inability to carry out a
rating surveillance in the absence of the requisite information from the
company.
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/ DECLINED BY
Unable to contact the company
Tel.: 91-6767-275585/ 276292/ 275529/ 276219/ 244002/ 255388/ 212130/
2121094
91-33-22903920/ 3921
91-661-2402132
91-6764-293345/ 47/ 230580 (all numbers are not working)
LOCATIONS
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Registered Office : |
8/1, New Tangra Road,
China Town, Kolkata – 700 046, West Bengal, 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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Head Office : |
SML House, Main Road, P.O Barbil – 758
035, District - Keonjhar, Orissa, India |
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Marketing Office : |
AA-15,Civil Township, Rourkela – 769 004,
Orissa, India |
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Barbil Works : |
At-Loidapara, PO-Guali, District
Keonjhar, Orissa, India |
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Anra Works : |
Village: Anra .P.O. Upar Raigoda, Near
Suakati, District - Keonjhar – 758 018, Orissa, India |
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Angul Works : |
Village: Mukundpur, P.O, Paranga,
District Angul – 759 123, Orissa, India |
DIRECTORS
AS ON 28.09.2012
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Name : |
Mr. Mahesh Kumar Agarwal
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Designation : |
Managing Director |
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Address : |
Gurudwara Road, Barbil – 758 035, Orissa, India |
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Date of Birth/Age : |
10.03.1965 |
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Date of Appointment : |
01.01.2012 |
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DIN No. : |
00168517 |
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PAN No.: |
AAXPA8674K |
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Other Directorship :
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Name : |
Mr. Murali Dhar Agarwal
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Designation : |
Director |
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Address : |
Daily Market, Barbil – 758 035, Orissa, India |
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Date of Birth/Age : |
14.04.1959 |
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Date of Appointment : |
02.01.1998 |
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DIN No. : |
00823521 |
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PAN No.: |
ACEPA9984D |
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Other Directorship :
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Name : |
Mr. Ashok Kumar Agarwal
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Designation : |
Additional Director |
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Address : |
Power House Road, Rourkela – 769 001, Orissa, India |
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Date of Birth/Age : |
07.08.1969 |
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Date of Appointment : |
01.07.2011 |
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DIN No. : |
00161705 |
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PAN No.: |
AAXPA8813E |
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Other Directorship :
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2012
Note:
Shareholding details file attached.
AS ON 28.09.2012
Equity Share Break up (Percentage of Total Equity)
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Category |
Percentage of Holding |
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Bodies corporate |
51.37 |
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Directors or relatives of Directors |
48.51 |
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Other top fifty shareholders |
0.12 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject is primarily engaged in the business of
manufacture and sale of iron and steel products and also engaged in
electricity generation for own consumption. |
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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 : |
Not Available |
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Imports : |
Not Available |
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Terms : |
Not Available |
PRODUCTION STATUS (AS
ON 31.03.2011):
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Particulars |
Capacity Installed (M.T) |
Actual Production (M.T) |
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Sponge
Iron |
300000.000 |
149543.940 |
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M.S.
Ingot/Billet |
282000.000 |
77975.680 |
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M.
S. Rod |
120000.000 |
27468.460 |
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Blast
Furnace |
30000.000 |
11187.890 |
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Iron
Ore Pellet** |
600000.000 |
57095.000 |
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Captive
Power Plant* |
28MW |
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Note:
* The maximum capacity of Captive Power Plant at any point of time is 28MW.
**
Commercial Production of Iron Pellet Plant at Anra has started w.e.f. dated
15.12.2010
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 : |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institution : |
Srei
Equipment Finance Private Limited, 'Vishwakarma', 86C, Topsia Road, Kolkata –
700 046, West Bengal, India |
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Auditors : |
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Name : |
SRB and Associates Chartered Accountants |
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Address : |
IDCO Tower, Janapath, Bhubaneswar – 751 022, Orissa, India |
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PAN
No.: |
AAXFS6281Q |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Key Managerial
Personnel or (KMP) / Relative of Management Personnel being an influential
person in the companies being Associates : |
·
Sarvesh Refractory Limited ·
Rourkela Minerals Co. Private Limited ·
Ice Berg Foods Limited ·
Ice Berg Acqua Private Limited ·
Raasi Refractories Limited ·
Ores India Private Limited ·
R. S. Agarwalla and Bros Private Limited ·
Hind Metals and Industries Private Limited ·
Mohit steel Industries Private Limited ·
Sree Metaliks Steel and Power Limited |
CAPITAL STRUCTURE
AFTER 28.09.2012
Authorised Capital : Rs.300.000 millions
Issued, Subscribed & Paid-up Capital : Rs.267.711
millions
AS ON 28.09.2012
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
|
30000000 |
Equity Shares |
Rs.10/- each |
Rs.300.000 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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23661050 |
Equity Shares |
Rs.10/- each |
Rs.236.611 millions |
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AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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30000000 |
Equity Shares |
Rs.10/- each |
Rs.300.000 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
22879050 |
Equity Shares |
Rs.10/- each |
Rs.228.791 millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
228.791 |
228.791 |
214.141 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
2835.949 |
2600.654 |
2091.170 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
3064.740 |
2829.445 |
2305.311 |
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LOAN FUNDS |
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1] Secured Loans |
4121.775 |
2467.881 |
1381.837 |
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2] Unsecured Loans |
525.148 |
0.000 |
0.000 |
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TOTAL BORROWING |
4646.923 |
2467.881 |
1381.837 |
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DEFERRED TAX LIABILITIES |
413.068 |
388.042 |
362.796 |
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TOTAL |
8124.731 |
5685.368 |
4049.944 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
4021.226 |
2654.043 |
2894.424 |
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Capital work-in-progress |
1997.728 |
1352.043 |
0.000 |
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INVESTMENT |
133.952 |
40.693 |
37.199 |
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DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
1520.056 |
1075.184 |
780.198 |
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Sundry Debtors |
982.500 |
715.566 |
337.309 |
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Cash & Bank Balances |
290.516 |
182.931 |
158.113 |
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Other Current Assets |
116.901 |
88.305 |
117.900 |
|
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Loans & Advances |
794.740 |
447.940 |
392.513 |
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Total
Current Assets |
3704.713
|
2509.926 |
1786.033 |
|
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
741.862 |
385.475 |
331.883 |
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Other Current Liabilities |
873.236 |
393.794 |
280.479 |
|
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Provisions |
117.790 |
92.068 |
55.350 |
|
Total
Current Liabilities |
1732.888
|
871.337 |
667.712 |
|
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Net Current Assets |
1971.825 |
1638.589 |
1118.321 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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|
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TOTAL |
8124.731 |
5685.368 |
4049.944 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Operating revenue, net |
4465.277 |
4193.909 |
3757.382 |
|
|
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Other Income |
96.705 |
36.351 |
13.801 |
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|
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TOTAL |
4561.982 |
4230.260 |
3771.183 |
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Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
3070.589 |
2812.914 |
|
|
|
|
Employee related expenses |
133.195 |
117.217 |
|
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|
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Administrative selling other expenses |
588.324 |
515.494 |
|
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|
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TOTAL |
3792.108 |
3445.625 |
2979.071 |
|
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|
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PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
769.874 |
784.635 |
792.112 |
|
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|
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|
|
|
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Less |
FINANCIAL
EXPENSES |
211.086 |
168.066 |
151.924 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
558.788 |
616.569 |
640.188 |
|
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Less/ Add |
DEPRECIATION/
AMORTISATION |
184.458 |
156.294 |
144.722 |
|
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PROFIT/
(LOSS) BEFORE TAX |
374.330 |
460.275 |
495.466 |
|
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Less |
TAX |
139.035 |
82.641 |
101.529 |
|
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|
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|
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|
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PROFIT/
(LOSS) AFTER TAX |
235.295 |
377.634 |
393.937 |
|
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PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
1880.502 |
1502.868 |
1114.212 |
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|
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|
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Less |
Taxes in respect of earlier years |
39.403 |
5.246 |
5.281 |
|
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|
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|
|
|
|
|
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BALANCE CARRIED
TO THE B/S |
2115.796 |
1880.502 |
1502.868 |
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EARNINGS IN
FOREIGN CURRENCY |
0.000 |
111.333 |
0.000 |
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|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
10.28 |
16.51 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Net Profit Margin (PAT/Sales) |
(%) |
5.27
|
9.00 |
10.48 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/ Sales) |
(%) |
17.24
|
18.71 |
21.08 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.85
|
8.91 |
10.59 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12
|
0.16 |
0.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.52
|
0.87 |
0.60 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.14
|
2.88 |
2.67 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2009 |
31.03.2010 |
31.03.2011 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
214.141 |
228.791 |
228.791 |
|
Reserves & Surplus |
2091.170 |
2600.654 |
2835.949 |
|
Net worth |
2305.311 |
2829.445 |
3064.740 |
|
|
|
|
|
|
Secured Loans |
1381.837 |
2467.881 |
4121.775 |
|
Unsecured Loans |
0.000 |
0.000 |
525.148 |
|
Total borrowings |
1381.837 |
2467.881 |
4646.923 |
|
Debt/Equity ratio |
0.599 |
0.872 |
1.516 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2009 |
31.03.2010 |
31.03.2011 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Operating revenue, net |
3757.382 |
4193.909 |
4465.277 |
|
|
|
11.618 |
6.471 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2009 |
31.03.2010 |
31.03.2011 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Operating revenue, net |
3757.382 |
4193.909 |
4465.277 |
|
Profit |
393.937 |
377.634 |
235.295 |
|
|
10.48% |
9.00% |
5.27% |
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 |
No |
|
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 |
NOTE:
The registered address of the company has been shifted from "The
Legacy, 3rd Floor, 25A Shakespeare Sarani, Kolkata – 700 017, West Bengal
to the present address w.e.f. 05.04.2013.
UNSECURED LOANS
|
PARTICULAR |
31.03.2011 (Rs.
In Millions) |
31.03.2010 (Rs.
In Millions) |
|
Other debt |
525.148 |
0.000 |
|
Total |
525.148 |
0.000 |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10436278 |
22/06/2013 |
200,000,000.00 |
SREI EQUIPMENT FINANCE
PRIVATE LIMITED |
'VISHWAKARMA', 86C,
TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B79372942 |
|
2 |
10420259 |
20/04/2013 |
285,620,439.00 |
SREI EQUIPMENT FINANCE
PRIVATE LIMITED |
'VISHWAKARMA', 86C,
TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B73337511 |
|
3 |
10420250 |
20/04/2013 |
289,713,315.00 |
SREI EQUIPMENT FINANCE
PRIVATE LIMITED |
'VISHWAKARMA', 86C,
TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B73337313 |
|
4 |
10420261 |
09/04/2013 |
307,348,270.00 |
SREI EQUIPMENT FINANCE PRIVATE
LIMITED |
'VISHWAKARMA', 86C,
TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B73337834 |
|
5 |
10339224 |
24/02/2012 |
77,112,582.00 |
SREI EQUIPMENT FINANCE
PRIVATE LIMITED |
'VISHWAKARMA', 86C,
TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B33713454 |
|
6 |
10339227 |
24/02/2012 |
101,047,052.00 |
SREI EQUIPMENT FINANCE
PRIVATE LIMITED |
'VISHWAKARMA', 86C,
TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B33714973 |
|
7 |
10339231 |
24/02/2012 |
203,223,220.00 |
SREI EQUIPMENT FINANCE PRIVATE
LIMITED |
'VISHWAKARMA', 86C,
TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B33716226 |
|
8 |
10344682 |
14/10/2014 * |
553,200,000.00 |
STATE BANK OF INDIA |
SME BRANCH, ROURKELA,
BISRA CHOWK, ROURKELA, ORISSA - 769001, INDIA |
C33776741 |
|
9 |
10307185 |
17/09/2011 |
300,000,000.00 |
ICICI BANK LIMITED |
LANDMARK RACE COURCE
CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B20965505 |
|
10 |
10307002 |
31/08/2011 |
6,147,900.00 |
TATA CAPITAL LIMITED |
ONE FORBES, DR V B GANDHI
MARG, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B20889168 |
|
11 |
10307004 |
31/08/2011 |
6,147,900.00 |
TATA CAPITAL LIMITED |
ONE FORBES, DR V B GANDHI
MARG, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B20890026 |
|
12 |
10292423 |
27/06/2011 |
600,000,000.00 |
SREI INFRASTRUCTURE
FINANCE LIMITED |
VISHWAKARMA, 86C, TOPSIA
ROAD (SOUTH), KOLKATA, WEST BENGAL - 700046, INDIA |
B15073489 |
|
13 |
10265980 |
27/01/2011 |
2,799,000.00 |
TATA CAPITAL LIMITED |
ONE FORBES, DR V B GANDHI
MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B06146476 |
|
14 |
10261985 |
01/01/2011 |
3,618,080.00 |
SREI EQUIPMENT FINANCE
PRIVATE LIMITED |
'VISHWAKARMA', 86C,
TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B03927704 |
|
15 |
10257806 |
24/12/2010 |
1,080,000.00 |
TATA CAPITAL LIMITED |
ONE FORBES, DR V B GANDHI
MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B02563682 |
|
16 |
10257786 |
24/12/2010 |
2,205,000.00 |
TATA CAPITAL LIMITED |
ONE FORBES, DR V B GANDHI
MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B02560928 |
|
17 |
10257803 |
24/12/2010 |
5,895,000.00 |
TATA CAPITAL LIMITED |
ONE FORBES, DR V B GANDHI
MARG, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B02562726 |
|
18 |
10249666 |
23/10/2010 |
300,000,000.00 |
STATE BANK OF BIKANER AND
JAIPUR |
PARK STREET BRANCH, 20B,
PARK STREET, KOLKATA, WEST BENGAL - 700016, INDIA |
A98713571 |
|
19 |
10241828 |
15/09/2010 |
144,499,768.00 |
SREI EQUIPMENT FINANCE
PRIVATE LIMITED |
'VISHWAKARMA', 86C,
TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
A95347183 |
|
20 |
10228073 |
29/06/2010 |
7,597,000.00 |
TATA CAPITAL LIMITED |
ONE FORBES, DR V B GANDHI
MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
A89394597 |
|
21 |
10226279 |
15/06/2010 |
80,000,000.00 |
SREI EQUIPMENT FINANCE
PRIVATE LIMITED |
'VISHWAKARMA', 86C,
TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
A88354295 |
|
22 |
10224281 |
15/05/2010 |
5,512,794.00 |
SREI EQUIPMENT FINANCE
PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA
ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
A87077798 |
|
23 |
10224390 |
15/05/2010 |
5,512,794.00 |
SREI EQUIPMENT FINANCE
PRIVATE LIMITED |
'VISHWAKARMA', 86C,
TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
A87079042 |
|
24 |
10224391 |
15/05/2010 |
5,512,794.00 |
SREI EQUIPMENT FINANCE
PRIVATE LIMITED |
'VISHWAKARMA', 86C,
TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
A87085049 |
|
25 |
10224623 |
15/05/2010 |
5,512,794.00 |
SREI EQUIPMENT FINANCE
PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA
ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
A87087722 |
|
26 |
10221588 |
22/04/2010 |
28,350,000.00 |
SREI EQUIPMENT FINANCE
PRIVATE LIMITED |
'VISHWAKARMA', 86C,
TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
A84991249 |
|
27 |
10218328 |
22/04/2010 |
57,888,890.00 |
SREI EQUIPMENT FINANCE
PRIVATE LIMITED |
'VISHWAKARMA', 86C,
TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
A84983279 |
|
28 |
10215871 |
15/04/2010 |
7,786,544.00 |
SREI EQUIPMENT FINANCE
PRIVATE LIMITED |
'VISHWAKARMA', 86C,
TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
A83724260 |
|
29 |
10212022 |
08/04/2010 |
8,756,498.00 |
SREI EQUIPMENT FINANCE
PRIVATE LIMITED |
'VISHWAKARMA', 86C,
TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
A83050120 |
|
30 |
10214444 |
31/03/2010 |
13,000,000.00 |
TATA CAPITAL LIMITED |
ONE FORBES, DR V B GANDHI
MARG, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
A83918151 |
|
31 |
10207719 |
26/03/2010 |
300,000,000.00 |
UCO BANK |
SECTOR-19, ROURKELA (MAIN)
BRANCH, ROURKELA, ORISSA - 769005, INDIA |
A81594467 |
|
32 |
10204225 |
08/03/2010 |
4,320,000.00 |
SREI EQUIPMENT FINANCE
PRIVATE LIMITED |
'VISHWAKARMA', 86C,
TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
A80314396 |
|
33 |
10204117 |
01/03/2010 |
2,800,000.00 |
SREI EQUIPMENT FINANCE
PRIVATE LIMITED |
'VISHWAKARMA', 86C,
TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
A80069693 |
|
34 |
10209194 |
25/02/2010 |
12,900,000.00 |
TATA CAPITAL LIMITED |
ONE FORBES, DR V B GANDHI
MARG, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
A82250663 |
|
35 |
10209206 |
25/02/2010 |
90,000,000.00 |
IDBI BANK LIMITED |
IDBI TOWERWTC COMPLEX,
CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
A82299595 |
|
36 |
10206415 |
22/02/2010 |
348,750.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI
BAPAT MARG, LOWER PAREL (WEST), MUMBAI, MAHARASHTRA - 400013, INDIA |
A81254773 |
|
37 |
10206412 |
22/02/2010 |
397,500.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI
BAPAT MARG, LOWER PAREL (WEST), MUMBAI, MAHARASHTRA - 400013, INDIA |
A81253064 |
|
38 |
10206413 |
22/02/2010 |
405,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI
BAPAT MARG, LOWER PAREL (WEST), MUMBAI, MAHARASHTRA - 400013, INDIA |
A81253593 |
|
39 |
10206414 |
22/02/2010 |
1,102,500.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI
BAPAT MARG, LOWER PAREL (WEST), MUMBAI, MAHARASHTRA - 400013, INDIA |
A81254195 |
|
40 |
10202963 |
22/02/2010 |
150,000,000.00 |
SREI EQUIPMENT FINANCE PRIVATE
LIMITED |
'VISHWAKARMA', 86C,
TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
A79443891 |
|
41 |
10197828 |
22/01/2010 |
30,000,000.00 |
SREI EQUIPMENT FINANCE
PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA
ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
A77708428 |
|
42 |
10172969 |
25/07/2009 |
3,409,560.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI
BAPAT MARG, LOWER PAREL (WEST), MUMBAI, MAHARASHTRA - 400013, INDIA |
A68681337 |
|
43 |
10159985 |
18/04/2009 |
300,000,000.00 |
STATE BANK OF BIKANER AND
JAIPUR |
PARK STREET BRANCH, 20B,
PARK STREET, KOLKATA, WE |
A61867842 |
|
44 |
10157175 |
01/04/2009 |
30,000,000.00 |
SREI EQUIPMENT FINANCE
PRIVATE LIMITED |
'VISHWAKARMA', 86C,
TOPSIA ROAD,, KOLKATA, WEST BENGAL - 700046, INDIA |
A60520129 |
|
45 |
10154721 |
18/03/2009 |
1,876,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI
BAPAT MARG, LOWER PAREL (WEST), MUMBAI, MAHARASHTRA - 400013, INDIA |
A60037249 |
|
46 |
10144990 |
25/03/2011 * |
6,332,700,000.00 |
STATE BANK OF INDIA(LEAD
BANK) |
COMMERCIAL BRANCH, BISRA
CHOWK, ROURKELA, ORISSA |
B10905701 |
|
47 |
10120685 |
05/09/2008 |
125,000,000.00 |
STATE BANK OF BIKANER AND
JAIPUR |
PARK STREET BRANCH, 57A,
PARK STREET, KOLKATA, WEST BENGAL - 700016, INDIA |
A45243466 |
|
48 |
10104795 |
16/04/2008 |
4,199,690.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI
BAPAT MARG, LOWER PAREL (WEST), MUMBAI, MAHARASHTRA - 400013, INDIA |
A37350428 |
|
49 |
10099081 |
08/03/2008 |
6,337,013.00 |
SREI INFRASTRUCTURE
FINANCE LIMITED |
VISHWAKARMA,86C,TOPSIA
ROAD (SOUTH), KOLKATA, WEST BENGAL - 700046, INDIA |
A36462349 |
|
50 |
10037695 |
06/02/2008 * |
70,000,000.00 |
ORIENTAL BANK OF COMMERCE |
BARBIL BRANCH, BARBIL,
KEONJHAR, ORISSA - 758035, |
A35158021 |
|
51 |
90246261 |
23/03/2006 * |
358,000,000.00 |
STATE BANK OF BIKANER
& JAIPUR |
PARK STREET BRANCH, 57,
PARK STREET, KOLKATA, WEST BENGAL - 700016, INDIA |
A08227019 |
* Date of charge modification
FIXED ASSETS
·
Land and Land Development
·
Building
·
Furniture and Fixture
·
Office Equipments
·
Motor Vehicles
·
Plant and Machineries
WEBSITE DETAILS:
NEWS:
SREE METALIKS
PROMOTERS MAY LOSE CONTROL OVER LOAN DEFAULT
February 24, 2014
MUMBAI:
Sree Metaliks, a maker of sponge iron in Odisha, could well be the second
company where promoters may end up relinquishing management control over loan default.
Agarwals, the founders of the company, face the prospect of losing the company
as its key lender, IFCI, plans to sell its convertible debentures to any bidder
to recover its dues.
The move to change
management of a defaulting company is rare and comes within a month of the
Reserve Bank of India and finance ministry prodding lenders to chase away
defaulting borrowers. Bankers led by the Delhi-based financial institution IFCI
has put on block the optionally fully convertible debentures (OFCD), which on
conversion to equity shares, will give acquirer a controlling stake of 76 per
cent in the company.
IFCI holds
debentures worth Rs.750.000 millions, which on conversion, will result in a 49
per cent stake in the company, said people familiar with the development. This
is the second instance where banks are attempting to get a new management in
recent weeks. Last week, lenders led by the State Bank of India had mandated
Alvarez and Marsal to manage and recover dues of Sai Infosystem, which failed
to repay Rs.12000.000 millions. "The OFCD are pledged with lenders and we
are looking at exiting," said officials from the institution who did not
wish to be named.
The person further
added the either IFCI will convert the OFCD into shares or it will transfer the
rights to convert the debentures to the prospective bidder. Lenders have
outstanding dues of around Rs.6000.000 millions with Sree Metaliks, an unlisted
Kolkata-based company.
Among the lenders, State
Bank of India, ICICI Bank and Srei Infrastructure have exposure in the company.
IFCI decided to sell
its convertible debentures after lenders failed to recover their dues under the
corporate debt restructuring cell, a forum where lenders and borrowers mutually
decide on the terms to revive a company.
Instances of change
in management is rare since the owners of a defaulting company take to courts
which drag on the case for years. In fact, a 2001 guideline from RBI also
discourages banks from taking control.
It says once a
company is revived, then it should be handed back to the original owners
without much benefit for banks for putting in the effort to revive. Sree
Metaliks has two sponge iron plans and one iron ore pellet plant, besides it is
allocated iron ore mines in Barbil, Odisha, with an estimated deposit of 10
million tonnes for which it has received the first-stage clearance.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction registered
against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling shareholders,
director, officer or employee of the company is a government official or a
family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report : No
press reports / filings exists on the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.74 |
|
|
1 |
Rs.92.71 |
|
Euro |
1 |
Rs.69.94 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
1 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
-- PROFITABILITY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--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 |
|
12 |
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.