MIRA INFORM REPORT
|
Report No. : |
330971 |
|
Report Date : |
08.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
|
|
|
|
|
Registered
Office : |
T 5 and 6, MIDC, Hingna, Nagpur - 440 038, Maharashtra |
|
Tel. No.: |
91-7104 234727 |
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|
|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
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|
Date of
Incorporation : |
10.02.2000 |
|
|
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Com. Reg. No.: |
11-124154 |
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|
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Capital Investment
/ Paid-up Capital : |
Rs.37.374
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U99999MH2000PLC124154 |
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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.] |
Not Available |
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|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged in the manufacturing of electrodes, flux
cored wire, manufacturing of durum, products, service welding and wear plates |
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No. of Employees
: |
Information declined by the management
|
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company incorporated during the year 2000.
It is having a satisfactory track record. For the financial year ended 2014, company has reported satisfactory
financial performance with healthy growth in revenue and high quality earnings,
along with profitability margin of 7.2% during a year under a review. Further, rating also takes into consideration company’s strong
financial risk profile marked by decent net worth base and favorable gap
between trade payables to its receivables. Trade relations are reported as fair. Business is active. Payments
terms are regular. In view of healthy operational performance, the company can be
considered normal for business dealings at usual 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Loan Facilities = BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk |
|
Date |
10.03.2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Loan Facilities = A2 |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
10.03.2015 |
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
31-03-2013.
INFORMATION DENIED
MANAGEMENT NON CO-OPERATIVE (91-7104-234727/ 232084/ 7350033689)
LOCATIONS
|
Registered Office / Head / Factory 1: |
T 5 and 6, MIDC, Hingna, Nagpur - 440 038, Maharashtra, India |
|
Tel. No.: |
91-7104 234727/232084 |
|
Fax No.: |
91-7104 232085 |
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E-Mail : |
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|
Website : |
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Factory 2 : |
N - 78 and 79, MIDC, Hingna Industrial Area, Nagpur-440016,
Maharashtra, India |
|
Tel. No.: |
91-7104-236036 |
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|
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Factory 3 : |
Plot No. T-12, MIDC, Hingna Industrial Area, Nagpur-440016,
Maharashtra, India |
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E-Mail : |
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Marketing Office: |
3rd Floor, D-Block, Doshi Gardens, 12, Chennai – 600026, Tamilnadu, India |
|
Tel. No.: |
91-44-32949864/ 8939953303 |
|
Mobile No.: |
91-9962585891 |
|
|
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Branch Office : |
Located At:
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DIRECTORS
AS ON 22.09.2014
|
Name : |
Mr. Narendra Kumar Garg |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
Chaitriya, 3, Pawanbhumi, Somalwada, Wardha Road, Nagpur-440025,
Maharashtra, India |
|
Date of Birth/Age : |
10.02.1950 |
|
Date of Appointment : |
12.08.1983 |
|
Din No.: |
00049074 |
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|
|
|
Name : |
Mr. Ramarao Venkata Avadhanula |
|
Designation : |
Director |
|
Address : |
P/No. 21, 22, 103, Talmale Estate, Tuljai Apartment, Renghe Vihar,
Trimurti Nagar, Nagpur-440022, Maharashtra, India |
|
Date of Birth/Age : |
29.01.1939 |
|
Date of Appointment : |
08.07.1997 |
|
Din No.: |
01723391 |
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|
|
|
Name : |
Mr. Prem Dayal Gupta |
|
Designation : |
Director |
|
Address : |
No. 9, Adan Bagh Colony, Dayal Bagh, Agra-282005, India |
|
Date of Birth/Age : |
16.11.1933 |
|
Date of Appointment : |
06.05.1995 |
|
Din No.: |
00049240 |
|
|
|
|
Name : |
Mr. Prashant Narendra Garg |
|
Designation : |
Whole Time Director |
|
Address : |
Chaitriya, 3, Pawanbhumi, Somalwada, Wardha Road, Nagpur-440025,
Maharashtra, India |
|
Date of Birth/Age : |
08.05.1983 |
|
Date of Appointment : |
09.11.2003 |
|
Din No.: |
00049106 |
|
|
|
|
Name : |
Mrs. Renuka Nitin Garg |
|
Designation : |
Director |
|
Address : |
Chaitriya, 3, Pawanbhumi, Somalwada, Wardha Road, Nagpur-440025, Maharashtra,
India |
|
Date of Birth/Age : |
28.08.1975 |
|
Date of Appointment : |
22.08.2009 |
|
Din No.: |
02815373 |
|
|
|
|
Name : |
Mr. Ajay Motilal Jain |
|
Designation : |
Director |
|
Address : |
Flat No. 802, 8th Floor, Building No. 6, Halley Wing E,
Evershine Millennium, Thakur Village, Kandivali (East), Mumbai-400101,
Maharashtra, India |
|
Date of Birth/Age : |
02.07.1965 |
|
Date of Appointment : |
22.08.2009 |
|
Din No.: |
02815416 |
|
|
|
|
Name : |
Mr. Raghunath Wasudeo Khare |
|
Designation : |
Director |
|
Address : |
No. 500, 1st Block, 15th Main, 03 Stage Basaveshwara Nagar, Bangalore – 560079, Karnataka, India |
|
Date of Birth/Age : |
27.07.1951 |
|
Date of Appointment : |
09.03.2013 |
|
Din No.: |
06543910 |
|
|
|
|
Name : |
Anita Avinash Vijayakar |
|
Designation : |
Director |
|
Address : |
7, Bar Kankhedes Bunglow, Amravati Road, Shankar Nagar, Nagpur – 440 010, Maharashtra , India |
|
Date of Birth/Age : |
19.12.1964 |
|
Date of Appointment : |
09.08.2014 |
|
Din No.: |
01190200 |
MAJOR SHAREHOLDERS
AS ON 22.09.2014
SHAREHOLDING DETAIL FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
AS ON 22.09.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
13.68 |
|
Directors or relatives of Directors |
76.45 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the manufacturing of electrodes,
flux cored wire, manufacturing of durum, products, service welding and wear
plates |
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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 Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management
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Bankers : |
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Facilities : |
(Rs.
In Million)
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Auditors : |
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|
Name : |
P.R. Bhuta and Company Chartered Accountants |
|
Address : |
2-I, Jeevan Sahakar, Sir P.M. Road, Fort, Mumbai-400001, Maharashtra,
India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AACPB3301K |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiaries Companies : |
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Step-down Subsidiary: |
(Subsidiary of M/s
Diffusion Engineers Singapore Private Limited) |
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Associate of Subsidiary: |
(Associate of
M/s Diffusion Engineers Singapore Private Limited) |
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Joint Venture: |
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Common Key Management Personnel: |
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CAPITAL STRUCTURE
AS ON 22.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3737467 |
Equity Shares |
Rs.10/- each |
Rs.37.374
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
37.374 |
37.374 |
37.374 |
|
(b) Reserves & Surplus |
471.227 |
426.407 |
374.906 |
|
(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) |
508.601 |
463.781 |
412.280 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
3.320 |
18.539 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(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) |
3.320 |
18.539 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
120.414 |
105.595 |
105.037 |
|
(b) Trade payables |
120.601 |
63.909 |
34.522 |
|
(c) Other current
liabilities |
64.599 |
45.252 |
44.704 |
|
(d) Short-term provisions |
16.274 |
16.115 |
13.906 |
|
Total Current Liabilities
(4) |
321.888 |
230.871 |
198.169 |
|
|
|
|
|
|
TOTAL |
833.809 |
713.191 |
610.449 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
237.337 |
187.197 |
163.717 |
|
(ii) Intangible Assets |
5.589 |
4.494 |
2.513 |
|
(iii) Capital work-in-progress |
3.371 |
52.271 |
1.921 |
|
(iv) Intangible assets
under development |
0.750 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
117.115 |
70.058 |
34.197 |
|
(c) Deferred tax assets
(net) |
1.450 |
0.202 |
0.255 |
|
(d) Long-term Loan and Advances |
7.373 |
8.363 |
9.399 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
372.985 |
322.585 |
212.002 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
200.033 |
156.523 |
113.299 |
|
(c) Trade receivables |
209.401 |
183.284 |
184.799 |
|
(d) Cash and cash
equivalents |
25.923 |
30.097 |
64.033 |
|
(e) Short-term loans and
advances |
25.467 |
20.702 |
36.316 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
460.824 |
390.606 |
398.447 |
|
|
|
|
|
|
TOTAL |
833.809 |
713.191 |
610.449 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
918.584 |
800.712 |
781.160 |
|
|
Other Income |
9.397 |
6.438 |
7.711 |
|
|
TOTAL (A) |
927.981 |
807.150 |
788.871 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
362.112 |
338.626 |
302.462 |
|
|
Purchases of
Stock-in-Trade |
43.285 |
39.397 |
53.467 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
12.582 |
(31.566) |
(4.224) |
|
|
Direct Expenses |
85.820 |
71.651 |
71.553 |
|
|
Employees benefits
expense |
144.925 |
126.711 |
112.732 |
|
|
Prior Period Items |
(0.060) |
0.098 |
0.103 |
|
|
Other expenses |
134.737 |
116.071 |
109.537 |
|
|
TOTAL (B) |
783.401 |
660.988 |
645.630 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
144.580 |
146.162 |
143.241 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
15.621 |
10.203 |
8.563 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION (C-D) (E) |
128.959 |
135.959 |
134.678 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
28.736 |
25.134 |
24.030 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX
(E-F) (G) |
100.223 |
110.825 |
110.648 |
|
|
|
|
|
|
|
Less |
TAX (H) |
33.541 |
37.605 |
38.557 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX (G-H)
(I) |
66.682 |
73.220 |
72.091 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
82.283 |
16.008 |
20.209 |
|
|
Components and Stores
parts |
2.838 |
2.511 |
1.513 |
|
|
Traded goods |
42.009 |
38.475 |
59.995 |
|
|
Capital Goods |
6.356 |
9.070 |
4.159 |
|
|
TOTAL IMPORTS |
133.486 |
66.064 |
85.876 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
17.84 |
19.59 |
19.29 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
140.166 |
74.717 |
|
Net cash flows from (used in) operations |
NA |
(33.185) |
(38.503) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
7.26 |
9.14 |
9.23 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
15.74 |
18.25 |
18.34 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.09 |
18.76 |
19.27 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20 |
0.24 |
0.27 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.24 |
0.27 |
0.25 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.43 |
1.69 |
2.01 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
37.374 |
37.374 |
37.374 |
|
Reserves & Surplus |
374.906 |
426.407 |
471.227 |
|
Net worth |
412.280 |
463.781 |
508.601 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
18.539 |
3.320 |
|
Short term borrowings |
105.037 |
105.595 |
120.414 |
|
Total borrowings |
105.037 |
124.134 |
123.734 |
|
Debt/Equity ratio |
0.255 |
0.268 |
0.243 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
781.160 |
800.712 |
918.584 |
|
|
|
2.503 |
14.721 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
781.160 |
800.712 |
918.584 |
|
Profit |
72.091 |
73.220 |
66.682 |
|
|
9.23% |
9.14% |
7.26% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
REVIEW OF BUSINESS OPERATIONS:
The Company continued to deliver satisfactory
financial performance with healthy growth in revenues and high quality
earnings. This performance is particularly commendable when achieved in the
extremely challenging business context. During the year, the gross revenue grew
by 14.75% to Rs. 1010.914 Million and Net Revenue at 916.475 Million grew by
14.97%. Sustained efforts in innovating new product range coupled with capacity
expansion has started showing positive results.
COMPANY
BACKGROUND:
Subject is an ISO 14001 and 18001 company engaged in the manufacturing of electrodes, flux cored wire, manufacturing of durum, products, service welding and wear plates. Company is also engaged in trading of LSN powder, kjllergerg machines and CNC cutting machines. Company is expanding its business in overseas by exporting of manufacturing goods to Asian and other South African countries.
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10544243 |
15/01/2015 |
100,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE,
DISCOVERY OF INDIA,, DR. |
C40993222 |
|
2 |
10456247 |
01/10/2013 |
50,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE,
DISCOVERY OF INDIA,, DR. |
B88027453 |
|
3 |
10536910 |
20/02/2013 |
50,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE,
DISCOVERY OF INDIA,, DR. |
C25128299 |
|
4 |
80007467 |
24/07/2014 * |
151,000,000.00 |
SYNDICATE BANK |
90, CANAL ROAD,, RAMDASPETH, NAGPUR,
MAHARASHTRA |
C16576878 |
* Date of charge modification
CONTINGENT
LIABILITIES:
(Rs. in million)
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
|
Guarantees |
|
|
|
Bank Guarantees |
26.263 |
30.887 |
FIXED ASSETS
Tangible Assets
- Land
- Building
- Plant and Machinery
- Furniture and Fixtures
- Vehicle
- Air Conditioner
- Computer
Intangible Assets
- Software
- Technical Known how
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction registered
against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling shareholders,
director, officer or employee of the company is a government official or a
family member or close business associate of a Government official.
9] Compensation Package :
Our market survey
revealed that the amount of compensation sought by the subject is fair and
reasonable and comparable to compensation paid to others for similar services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.37 |
|
UK Pound |
1 |
Rs.98.86 |
|
Euro |
1 |
Rs.69.97 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
GTA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
51 |
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.