MIRA INFORM REPORT
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Report No. : |
304267 |
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Report Date : |
20.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
GLOBAL ALUMINIUM PRIVATE LIMITED |
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Registered
Office : |
# 5-2-196/1, Distillery Road, Secunderabad-500003, Telangana |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
21.03.1996 |
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Com. Reg. No.: |
36-023581 |
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Capital Investment
/ Paid-up Capital : |
Rs.140.666 Millions |
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CIN No.: [Company Identification
No.] |
U27203TG1996PTC023581 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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TAN No.: [Tax Deduction & Collection
Account No.] |
HYDG00840A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacture of Aluminum. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The rating reflects company moderate financial risk profile marked by
low profit margin and increased in the borrowings of the company during FY
2014. However, trade relations are reported as fair. Business is active.
Payments terms are reported to be slow but correct. The company can be considered for business dealings with some 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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long terms rating: BB |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
02.07.2014 |
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.
LOCATIONS
|
Registered / Corporate Office 1 : |
# 5-2-196/1, Distillery Road, Secunderabad-500003, Telangana,
India |
|
Tel. No.: |
91-40-27544267/27540133/27545444 |
|
Fax No.: |
91-40-27544317 |
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E-Mail : |
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Corporate Office 2 : |
10/2, 1st Floor, Doddamavalli First Cross, Lalbagh Fort Road,
Bangalore - 560 004, Karnataka, India |
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Tel. No.: |
91-80-41146881 |
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Fax No.: |
91-80-22221535 |
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E-Mail : |
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Factory 1: |
SY No. 282, Kallakal Village, Toopran Mandal, Medak District, Andhra
Pradesh, India |
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Tel. No.: |
91-8454-250632/250537 |
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Fax No.: |
91-40-27544317 |
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E-Mail : |
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Factory 2: |
Sy No. 157, 161 and 162, Kallakal Village, Toopran Mandal, Medak
District, Andhra Pradesh, India |
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Tel. No.: |
91-8454/201202 |
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Mobile No.: |
91-9000202403 |
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Delhi Marketing
Office: |
No. A-87, G Floor, Sector - 4, Noida - 201 301, Uttar Pradesh, India |
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Email: |
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Overseas Office: |
Quakers Hills, NSW -
2763, Sydney, Australia. |
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Branch Office: |
Located at
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DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Anil Kumar Agarwal |
|
Designation : |
Managing Director |
|
Address : |
H. No. 503, Road No. 31, Jubilee Hills, Hyderabad-500033, Telangana, India |
|
Date of Birth/Age : |
20.03.1971 |
|
Date of Appointment : |
21.03.1996 |
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DIN No.: |
00423993 |
|
PAN No.: |
AAMPA4690G |
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|
|
|
Name : |
Mrs. Reena Agarwal |
|
Designation : |
Director |
|
Address : |
H. No. 503, Road No. 31, Jubilee Hills, Hyderabad-500033, Telangana, India |
|
Date of Birth/Age : |
28.11.1979 |
|
Date of Appointment : |
12.11.2003 |
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DIN No.: |
00424042 |
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PAN No.: |
AEUPA4695K |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Anil Kumar Agarwal |
3026600 |
21.52 |
|
Krishna Kumar Agarwal |
570000 |
4.05 |
|
Sumitra Devi Agarwal |
4800000 |
34.12 |
|
Krishna Kumar Agarwal HUF |
900000 |
6.40 |
|
Praveen Kumar Agarwal |
1200000 |
8.53 |
|
P.K. Finvest (P) Limited, |
3330000 |
23.67 |
|
Dulari Agarwal |
120000 |
0.85 |
|
Reena Agarwal |
120000 |
0.85 |
|
Total |
14066600 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Bodies corporate |
23.67 |
|
Directors or relatives of Directors |
76.33 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacture of Aluminum. |
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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 NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Brijmohan Soni and Company Chartered Accountants |
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Address : |
4-1-1236/2C, King Koti Road, ABIDS Hyderabad – 500001, Telangana, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AFVPS8515E |
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Memberships : |
-- |
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Collaborators : |
-- |
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Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives: |
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Others related
party: |
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CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs. 150.000 Millions |
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|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14066600 |
Equity Shares |
Rs.10/- each |
Rs. 140.666
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
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|
|
|
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I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
140.666 |
140.666 |
140.666 |
|
(b) Reserves & Surplus |
99.175 |
80.998 |
61.124 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
239.841 |
221.664 |
201.790 |
|
|
|
|
|
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(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
257.575 |
155.746 |
113.791 |
|
(b) Deferred tax liabilities
(Net) |
36.068 |
28.174 |
11.407 |
|
(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) |
293.643 |
183.920 |
125.198 |
|
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(4) Current Liabilities |
|
|
|
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(a) Short term borrowings |
528.157 |
465.293 |
191.665 |
|
(b) Trade payables |
30.953 |
43.908 |
13.370 |
|
(c) Other current liabilities |
9.557 |
9.194 |
7.806 |
|
(d) Short-term provisions |
4.025 |
3.021 |
14.630 |
|
Total
Current Liabilities (4) |
572.692 |
521.416 |
227.471 |
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|
|
|
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TOTAL |
1106.176 |
927.000 |
554.459 |
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II.
ASSETS |
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|
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(1) Non-current assets |
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(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
391.322 |
377.455 |
88.884 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
35.793 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.027 |
0.027 |
8.947 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
13.065 |
13.025 |
44.415 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
404.414 |
390.507 |
178.039 |
|
|
|
|
|
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(2) Current assets |
|
|
|
|
(a) Current investments |
100.795 |
22.613 |
2.958 |
|
(b) Inventories |
208.032 |
224.646 |
153.725 |
|
(c) Trade receivables |
343.741 |
257.631 |
201.178 |
|
(d) Cash and cash equivalents |
2.036 |
3.082 |
1.743 |
|
(e) Short-term loans and
advances |
47.158 |
28.521 |
16.816 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
701.762 |
536.493 |
376.420 |
|
|
|
|
|
|
TOTAL |
1106.176 |
927.000 |
554.459 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
2196.900 |
1751.700 |
1549.200 |
|
|
Other Income |
16.800 |
15.500 |
1.000 |
|
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TOTAL |
2213.700 |
1767.200 |
1550.200 |
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EXPENSES |
(Including
Financial Expenses and Depreciation) |
(Including
Financial Expenses and Depreciation) |
1480.800 |
|
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|
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PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
|
69.400 |
|
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|
FINANCIAL
EXPENSES |
|
|
20.600 |
|
|
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PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
48.800 |
|
|
|
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|
|
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DEPRECIATION/
AMORTISATION |
|
|
6.000 |
|
|
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PROFIT/
(LOSS) BEFORE TAX |
26.600 |
36.600 |
|
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|
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TAX
EXPENSE- CURRENT TAX |
0.600 |
0.000 |
13.900 |
|
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DEFERRED TAX |
7.900 |
16.800 |
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PROFIT/
(LOSS) AFTER TAX |
18.200 |
19.900 |
28.300 |
|
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|
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|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
1.29 |
1.41 |
2.83 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.83 |
1.14 |
1.83 |
|
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|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
NA |
NA |
4.48 |
|
|
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|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.40 |
3.95 |
8.28 |
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|
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|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11 |
0.17 |
0.21 |
|
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|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
3.28 |
2.80 |
1.51 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.23 |
1.03 |
1.65 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
140.666 |
140.666 |
140.666 |
|
Reserves & Surplus |
61.124 |
80.998 |
99.175 |
|
Net
worth |
201.790 |
221.664 |
239.841 |
|
|
|
|
|
|
long-term borrowings |
113.791 |
155.746 |
257.575 |
|
Short term borrowings |
191.665 |
465.293 |
528.157 |
|
Total
borrowings |
305.456 |
621.039 |
785.732 |
|
Debt/Equity
ratio |
1.514 |
2.802 |
3.276 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1549.200 |
1751.700 |
2196.900 |
|
|
|
13.071 |
25.415 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1549.200 |
1751.700 |
2196.900 |
|
Profit |
28.300 |
19.900 |
18.200 |
|
|
1.83% |
1.14% |
0.83% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
FINANCIAL RESULT
During the year, the Company’s revenue from operations increased by 25.41% amounting to Rs. 2196.900 Millions (previous year- Rs. 1751.700 Millions) and the total expenditure was augmented by 26.38% resulting in profit before tax of Rs. 26.600 Millions ( previous year- Rs. 36.600 Millions) and profit after tax amounted to Rs. 18.200 Millions (previous year- Rs. 19.900 Millions).
Due to increase in employee cost and finance cost and other expenses, there is a fall in profit of the Company. The Company is taking measures to control cost. It is making efforts to explore new opportunities for expansion of business and is confident of the growth of the Company.
Further, with regard to auditors observation, it is submitted that the Company is maintaining cost and is ensuring necessary compliance. There were no material changes from the date of closure of financial statements till date.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Rupee term loans from others |
220.342 |
114.990 |
|
Short-term
borrowings |
|
|
|
Deposits from others |
18.243 |
5.144 |
|
Total |
238.585 |
120.134 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION
|
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10322410 |
08/03/2014 * |
560,000,000.00 |
ING VYSYA BANK LIMITED |
1-7-1,T.SUBBARAMI REDDY COMPLEX, SARDAR PATEL ROAD, SECUNDERABAD, TELANGANA - 500003, INDIA |
C06937460 |
* Date of charge modification
FIXED ASSETS
- Land
- Buildings
- Plant and equipmentc
- Emission reduction equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
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.61.70 |
|
|
1 |
Rs.93.41 |
|
Euro |
1 |
Rs.71.33 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
32 |
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.