MIRA INFORM REPORT
|
Report No. : |
309005 |
|
Report Date : |
24.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
GERDAU STEEL INDIA LIMITED (w.e.f. 25.02.2013) |
|
|
|
|
Formerly Known
As : |
KALYANI GERDAU STEELS LIMITED (w.e.f 08.10.2008) SJK STEEL PLANT LIMITED (w.e.f. 05.02.2004) SJK STEEL CORPORATION LIMITED (w.e.f. 22.03.1995) TADIPATRI METAL INDIA LIMITED (w.e.f. 20.07.1994 ) SUJANA METAL INDIA LIMITED |
|
|
|
|
Registered
Office : |
Village Jambulapadu, Tadipatri Mandal, Ananthpur – 515411,
Andhra Pradesh |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
16.03.1993 |
|
|
|
|
Com. Reg. No.: |
01-015499 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 6703.158 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27109AP1993PLC015499 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDS07829D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCS8629N |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Special Steel. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (15) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The management has failed to file its financial for the year 2014 with
the government department. As per ROC the date of balance sheet (i.e. financial filed) is shown
as 31.03.2013 but the documents related to the financial for the year 2013
are not available from any sources. As per available financial of 2012, the company has incurred huge
accumulated losses. Mr. Srinivasan Accounts Manager denied to part any information about
the company. As per Registrar of Companies the status of the company is shown as
active. Payment terms are unknown. The company can be considered for business dealings on a 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
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DENIED BY
|
Name : |
Mr. Srinivasan |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-80-30262205 |
|
Date : |
21.02.2015 |
LOCATIONS
|
Registered Office : |
Village Jambulapadu, Tadipatri Mandal, Ananthpur – 515411,
Andhra Pradesh, |
|
Tel. No.: |
91-8558-306168 |
|
Fax No.: |
91-8558-306111 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
304/305, World Trade Centre, Bangalore Brigade Gateway Complex, # 26/1
Dr. Rajkumar Road, Malleswaram (West), Bangalore – 560055, Karnataka, India |
|
Tel. No.: |
91-80-30262205 |
|
Fax No.: |
91-80-30262240 |
|
|
|
|
Factory : |
|
|
Tel. No.: |
91-8558-220222 / 228 / 372 / 306168 |
|
Fax No.: |
91-8558-211299 / 688 / 306111 |
DIRECTORS
AS ON 31.12.2013
|
Name : |
Mr. Yalamanchili Jithin Kumar
|
|
Designation : |
Director |
|
Address : |
Plot No. 320, New MLA and MPS Colony, Road No. 10 C, Jubilee Hills, |
|
Date of Birth/Age : |
09.06.1955 |
|
Qualification : |
B Com |
|
Date of Appointment : |
30.06.1994 |
|
DIN No.: |
00099750 |
|
|
|
|
Name : |
Mr. Yalamanchili Janardhana Rao |
|
Designation : |
Director |
|
Address : |
Plot No. 299, New MLA and MPS Colony, Road No. 10 C, Jubilee Hills, |
|
Date of Birth/Age : |
09.01.1932 |
|
Qualification : |
Bachelor of Engineering |
|
Date of Appointment : |
29.09.2001 |
|
DIN No.: |
00099891 |
|
Name : |
Mark Anthony Marcucci |
|
Designation : |
Director |
|
Address : |
4932 Country LN, Jackson, USA |
|
Date of Appointment : |
31.12.2013 |
|
DIN No.: |
06456919 |
|
|
|
|
Name : |
Hildo Baldasso Alberto |
|
Designation : |
Director |
|
Address : |
855, Rua Fortugai Sao road , Porto Alegre, Brazil |
|
Date of Birth/Age : |
30.10.1954 |
|
Date of Appointment : |
31.12.2013 |
|
DIN No.: |
06721731 |
|
|
|
|
Name : |
Sridhar Krishnamoorthy |
|
Designation : |
Managing director |
|
Address : |
Flat No.802, Residency Apartments, (New 62) old 5C/23, Sardar Patel Road, Chennai, Tamilnadu, India |
|
Date of Birth/Age : |
07.10.1961 |
|
Date of Appointment : |
31.12.2013 |
|
DIN No.: |
06738209 |
|
|
|
|
Name : |
Ricardo Sendim Fioramonte |
|
Designation : |
Director |
|
Address : |
1447, Bicentennial Parkway Ann Arbor, United States of America |
|
Date of Birth/Age : |
29.06.1967 |
|
Date of Appointment : |
31.12.2013 |
|
DIN No.: |
06771381 |
KEY EXECUTIVE
|
Name : |
Mr. Srinivasan |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS
AS ON 31.12.2013
SHAREHOLDERS DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
AS ON 31.12.2013
|
Category |
Percentage |
|
Public Financial
companies |
0.01 |
|
Nationalized or
other banks |
0.03 |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
98.38 |
|
Bodies corporate |
0.10 |
|
Directors or relatives of Directors |
0.04 |
|
Other top fifty shareholders |
1.44 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Special Steel. |
||||||||
|
|
|
||||||||
|
Products : |
|
||||||||
|
Brand Names : |
Not Divulged |
||||||||
|
|
|
||||||||
|
Agencies Held : |
Not Divulged |
||||||||
|
|
|
||||||||
|
Exports : |
Not Divulged |
||||||||
|
|
|
||||||||
|
Imports : |
Not Divulged |
||||||||
|
|
|
||||||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
|
Pig Iron |
MTs |
250000 |
250000 |
|
Steel Billets |
MTs |
250000 |
250000 |
Note:
1.
The Licensed Capacity is as
per the acknowledgment bearing number 2824 SIA IMO 2007 Dated 3rd
October 2007 issued by the Ministry Commerce and Industry.
2.
Installed capacity is as
certified by the management being a technical matter accepted by the auditor in
the current year.
GENERAL INFORMATION
|
Suppliers : |
Not Divulged |
||||||||||||
|
|
|
||||||||||||
|
Customers : |
Not Divulged |
||||||||||||
|
|
|
||||||||||||
|
No. of Employees : |
Information declined by the management. |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
·
Bank of · Dena Bank, M. G. Road, Secunderabad – 500003, Andhra Pradesh, India · Export Import Bank of India, Center One Building, Floor 21, Wtc Complex Cuffe Parade, Mumbai - 400005, Maharashtra, India · Punjab National Bank, CMO, Sanathnagar, Erragadda, 999, Hyderabad - 500018, Andhra Pradesh, India · Standard Chartered Bank · Deutsche bank |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial
Institutions : |
· IFCI Limited, 8th Floor, Taramandal Complex, No, 5-9-13, P.O. Box No. 57, Saifabad, Hyderabad – 500004, Andhra Pradesh, India · International Finance Corporation, 2121 Pennsylvania Avenue, NW, Washington, Dc 20433 USA, Washington - 20433, United States Of America · United India Insurance Company Limited, Investment Department, Ground Floor, 24, Whites House, Chennai - 600014, Tamilnadu, India · National Insurance Company Limited, Everest House, 4th Floor, 45C, Jawaharlal Nehru Road, Kolkata - 700071, West Bengal, India · General Insurance Corporation of India, "Suraksha", 170, J. Tata Road, Churchgate, Mumbai - 400020, Maharashtra, India · Stressed Assets Stabilization Fund, 9th Floor, IDBI Tower, WTC Complex, Cuffe Parade, Mumbai - 400005, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
706, ‘B’ wing, 7th
Floor, ICC Trade Tower, International Convention Centre, Senapati Bapat Marg,
Pune – 411016, Maharashtra, India |
|
PAN No.: |
AACFD4815A |
|
|
|
|
Holding Company : |
Corporation Sidenor, S.A.Y CIA, S.R.C, Spain |
|
|
|
|
Related Parties : |
Kalyani Steels Limited, India CIN No.: L27104MH1973PLC016350 |
CAPITAL STRUCTURE
AFTER 31.12.2013
Authorised Capital : Rs. 30000.000
Millions
Issued, Subscribed & Paid-up Capital : Rs. 22452.108
Millions
As on 31.12.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,900,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 19000.000 Millions |
|
100,000,000 |
Preference Shares |
Rs.10/- each |
Rs. 1000.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 20000.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,635,329,017 |
Equity Shares |
Rs.10/- each |
Rs. 16353.290 Millions |
|
18,193,439 |
Preference Shares |
Rs.10/- each |
Rs. 181.934 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 16535.224 Millions |
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
600000000 |
Equity Shares |
Rs.10/- each |
Rs. 6000.000 Millions |
|
500000000 |
Preference Shares |
Rs.10/- each |
Rs. 5000.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 11000.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
576636200 |
Equity Shares |
Rs.10/- each |
Rs. 5766.362 Millions |
|
93679600 |
Preference Shares |
Rs.10/- each |
Rs. 936.796 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 6703.158
Millions |
FINANCIAL DATA
[all figures are in
Rupees Millions]
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
6703.158 |
3699.931 |
|
(b) Reserves & Surplus |
|
(5479.612) |
(2663.344) |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
2032.374 |
54.678 |
|
Total
Shareholders’ Funds (1) + (2) |
|
3255.920 |
1091.265 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
13522.012 |
16009.220 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
13.556 |
6.799 |
|
Total Non-current
Liabilities (3) |
|
13535.568 |
16016.019 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
|
0.000 |
0.000 |
|
(b) Trade payables |
|
1482.980 |
286.216 |
|
(c) Other current
liabilities |
|
693.560 |
390.760 |
|
(d) Short-term
provisions |
|
4.217 |
3.258 |
|
Total Current
Liabilities (4) |
|
2180.757 |
680.234 |
|
|
|
|
|
|
TOTAL |
|
18972.245 |
17787.518 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
5838.485 |
8246.487 |
|
(ii) Intangible Assets |
|
32.317 |
0.000 |
|
(iii) Capital
work-in-progress |
|
2953.059 |
1201.833 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
84.947 |
84.947 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
1060.740 |
673.082 |
|
(e) Other
Non-current assets |
|
5811.427 |
6661.434 |
|
Total Non-Current
Assets |
|
15780.975 |
16867.783 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
1519.777 |
316.911 |
|
(c) Trade receivables |
|
0.105 |
0.371 |
|
(d) Cash and cash
equivalents |
|
1263.747 |
465.029 |
|
(e) Short-term loans
and advances |
|
403.970 |
131.593 |
|
(f) Other current
assets |
|
3.671 |
5.831 |
|
Total Current Assets |
|
3191.270 |
919.735 |
|
|
|
|
|
|
TOTAL |
|
18972.245 |
17787.518 |
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
2510.863 |
|
|
2] Share Application Money |
|
|
656.283 |
|
|
3] Reserves & Surplus |
|
|
(1441.878) |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
1725.268 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
14616.756 |
|
|
2] Unsecured Loans |
|
|
180.000 |
|
|
TOTAL BORROWING |
|
|
14796.756 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
16522.024 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
8647.704 |
|
|
Capital work-in-progress |
|
|
7043.604 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
84.946 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
246.463 |
|
|
Sundry Debtors |
|
|
1.171 |
|
|
Cash & Bank Balances |
|
|
554.625 |
|
|
Other Current Assets |
|
|
2.478 |
|
|
Loans & Advances |
|
|
145.447 |
|
Total
Current Assets |
|
|
950.184 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
180.414 |
|
|
Other Current Liabilities |
|
|
10.404 |
|
|
Provisions |
|
|
13.596 |
|
Total
Current Liabilities |
|
|
204.414 |
|
|
Net Current Assets |
|
|
745.770 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
16522.024 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
0.000 |
17.639 |
178.766 |
|
|
|
Other Income |
40.409 |
118.813 |
75.647 |
|
|
|
TOTAL (A) |
40.409 |
136.452 |
254.413 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
358.668 |
51.490 |
|
|
|
|
Employee benefit expense |
207.514 |
112.963 |
502.160 |
|
|
|
Other expenses |
427.143 |
376.083 |
|
|
|
|
Exceptional Items |
1832.224 |
0.000 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(336.012) |
(55.033) |
|
|
|
|
TOTAL (B) |
2489.537 |
485.503 |
502.160 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
(2449.128) |
(349.051) |
(247.747) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
448.381 |
462.959 |
357.793 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(2897.509) |
(812.010) |
(605.540) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
344.023 |
414.549 |
436.784 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
(3241.532) |
(1226.559) |
(1042.324) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.851 |
(5.093) |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
(3243.383) |
(1221.466) |
(1042.324) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(5834.777) |
(4613.311) |
(3570.987) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(9078.160) |
(5834.777) |
(4613.311) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
135.821 |
331.356 |
857.762 |
|
|
|
Raw Materials |
1065.473 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
1201.294 |
331.356 |
857.762 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(9.39) |
(4.95) |
(7.51) |
|
Note: The Company has
started its manufacturing activity from December 2012.
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Net Profit Margin |
(%) |
0.00 |
(6924.80) |
(583.07) |
|
|
|
|
|
|
|
Operating Profit Margin |
(%) |
0.00 |
(1978.86) |
(138.59) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(20.34) |
(7.43) |
(10.86) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(1.00) |
(1.12) |
(0.60) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
4.15 |
14.67 |
8.58 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.46 |
1.35 |
4.65 |
FINANCIAL ANALYSIS
[All figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
3699.931 |
6703.158 |
|
Reserves & Surplus |
(2663.344) |
(5479.612) |
|
Share Application money
pending allotment |
54.678 |
2032.374 |
|
Net
worth |
1091.265 |
3255.920 |
|
|
|
|
|
long-term borrowings |
16009.22 |
13522.012 |
|
Short term borrowings |
0.000 |
0.000 |
|
Total
borrowings |
16009.220 |
13522.012 |
|
Debt/Equity
ratio |
14.670 |
4.153 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
254.413 |
136.452 |
40.409 |
|
|
|
(46.366) |
(70.386) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
254.413 |
136.452 |
40.409 |
|
Profit |
(1042.324) |
(1221.466) |
(3243.383) |
|
|
(409.70%) |
(895.16%) |
(8026.39%) |
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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
five 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 |
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 |
10353517 |
27/03/2012 |
4,310,290.00 |
GENERAL INSURANCE CORPORATION OF INDIA |
"SURAKSHA", 170, J. TATA ROAD,, CHURCHGATE,,
MUMB |
B38876017 |
|
2 |
10349779 |
27/03/2012 |
43,736,846.00 |
PUNJAB NATIONAL BANK |
CMO, SANATHNAGAR,, ERRAGADDA, 999, HYDERABAD, AND |
B37620119 |
|
3 |
10254036 |
26/11/2010 |
562,773,000.00 |
PUNJAB NATIONAL BANK |
CMO, SANATHNAGAR,, ERRAGADDA, 999, HYDERABAD, AND |
B00582874 |
|
4 |
10153308 |
25/02/2009 |
349,350,000.00 |
AXIS BANK LIMITED |
1262/B,STERLING PLAZA,JANGLI MAHARAJ ROAD, DECCAN |
A60659083 |
|
5 |
10106334 |
19/06/2008 |
650,000,000.00 |
AXIS BANK LIMITED |
1262/B STERLING PLAZA JANGLI MAHARAJ ROAD, DECCAN |
A39971072 |
|
6 |
10095240 |
18/03/2008 |
909,522,809.00 |
PUNJAB NATIONAL BANK |
CMO, SANATH NAGAR, ERRAGADDA,, HYDERABAD, ANDHRA P |
A35474022 |
|
7 |
90138464 |
29/03/2004 * |
165,500,000.00 |
PUNJAB NATIONAL BANK |
SANATHNAGAR, HYDERABAD, ANDHRA PRADESH, INDIA |
- |
|
8 |
90138429 |
29/03/2004 * |
10,500,000.00 |
THE ORIENTAL BANK OF COMMERCE |
ORIENTAL HOUSE; PB NO. 7037, A-25/27; ASAF ALI RO |
- |
|
9 |
90138424 |
29/03/2004 * |
17,500,000.00 |
GENERAL INSURANCE CORPORATION OF INDIA |
SURAKSHA, 170; J.TATA ROAD, BOMBAY, MAHARASHTRA - |
- |
|
10 |
90138414 |
17/03/2003 |
151,510,000.00 |
PUNJAB NATIONAL BANK |
SANATHNAGAR, HYDERABAD, ANDHRA PRADESH, INDIA |
- |
* Date of charge modification
UNSECURED LOANS:
|
Particulars |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
Long Term Borrowings |
|
|
|
Loans and
advances from director |
180.000 |
180.000 |
|
Other loans and
advances |
0.000 |
1120.500 |
|
Total |
180.000 |
1300.500 |
PROJECT STATUS:
Company has
already commissioned the Sinter plant and Captive power plant in Aug/2012.
Modernization of Blast Furnace is done and ready for production. SMS (Steel
Melting Shop) modernization is almost done and getting ready for production by
Oct/2012. New Rolling Mill is getting ready for production by Dec/2012. Board
is pleased to inform that company has planned to start production of Blast
Furnace and SMS in Oct/2012 along with sinter plant and captive power plant
followed with Rolling Mill production in Dec/2012.
FINANCIAL RESULTS
The plant was
under shut down during the year to enable the completion of phase-I capex
program.
During the year,
the Company has achieved other income of Rs 40.409 Million and has made a loss of
Rs. 3243.383 Million which is inclusive of Rs 1832.224 Million on account of
exceptional items.
NOTE
The registered office of the company has been shifted from Plot No-75, MLAS and MPS Colony, Road No-10C, Jubilee
Hills, Hyderabad - 500033, Andhra Pradesh, India to the present address.
FIXED ASSETS:
- Land
- Building
- Plant and
Equipment
- Furniture and
fixture
- Vehicle
- Office
Equipment
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.18 |
|
|
1 |
Rs. 95.72 |
|
Euro |
1 |
Rs. 70.76 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
-- |
|
--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 |
|
15 |
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.