MIRA INFORM REPORT
|
Report No. : |
331105 |
|
Report Date : |
10.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
TOPWORTH URJA
AND METALS LIMITED (w.e.f. 29.06.2010) |
|
|
|
|
Formerly Known
As : |
SHREE VIRANGANA STEELS LIMITED |
|
|
|
|
Registered
Office : |
Raheja Centre, Office No.206, 2nd Floor, 214, Free Press Journal Marg, Nariman Point, Mumbai – 400 021, Maharashtra |
|
Tel. No.: |
91-712-2536118 / 22-71500500 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
05.11.1993 |
|
|
|
|
Com. Reg. No.: |
11-074950 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 431.567 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27109MH1993PLC074950 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
NGPS01005E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCS5396N |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Iron, steel, pipes and tubes. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “CREST STEEL AND POWER PRIVATE LIMITED”,
India. It is an established company having satisfactory track record. For the financial year ended 2013, company possesses sound financial
risk profile backed by sound sales turnover growth and fair profitability
margins of the company. Rating also takes into consideration experience of the promoters in
the steel manufacturing and trading business, consistent financial support
extended by the promoters and sound financial risk profile of the company. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealings at usual trade
terms and condition. Note: 23 AC documents
for the year 2014 are not available from any source. |
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 |
CARE |
|
Rating |
Long term bank
facilities = BBB- |
|
Rating Explanation |
Moderate degree of
safety and moderate credit risk. |
|
Date |
April 13, 2015 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank
facilities = A3 |
|
Rating Explanation |
Moderate degree of
safety and higher credit risk. |
|
Date |
April 13, 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 BY
|
Name : |
Mr. Jagdish |
|
Designation : |
Account Manager |
|
Contact No.: |
91-22-71500500 |
|
Date : |
08.07.2015 |
LOCATIONS
|
Registered Office : |
Raheja Centre, Office No.206, 2nd Floor, 214, Free Press Journal Marg, Nariman Point, Mumbai – 400 021, Maharashtra |
|
Tel. No.: |
91-712-2536118 / 22-71500500 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office 1 : |
308, Ceejay House, |
|
Tel. No.: |
91-22-24812000 |
|
Fax No.: |
91-22-24812122 |
|
E-Mail : |
|
|
|
|
|
Corporate Office 2 : |
Indiabulls Finance Centre, Tower 3, 1601, 16th Floor, Senapati Bapat
Marg, |
|
Tel. No.: |
91-22-71500500 |
|
Fax No.: |
91-22-71500520 |
|
E-Mail : |
|
|
|
|
|
Factory : |
Mouza Ukkerwadi, Village : Heti, |
|
Tel. No.: |
91-7116-249071/73 |
|
E-Mail : |
|
|
|
|
|
Domestic Office 1: |
126-128, 1st Floor, Shriram Towers, Kingsway, Sadar, Near NIT Office,
Nagpur – 400 001, Maharashtra, India |
|
Telefax No. : |
91-712-2527120/2527122 |
|
E-Mail : |
|
|
|
|
|
Domestic Office 2: |
Mouzaukkerwahi Village Heti, Umred Road, District Nagpur – 441 204,
Maharashtra, India |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Surendra Champalal Lodha |
|
Designation : |
Whole-time director |
|
Address : |
126-128, 1st Floor, Shriram Towers, Kingsway, Sadar, Nagpur
– 400 001, Maharashtra, India |
|
Date of Birth/Age : |
05.05.1965 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
28.02.2008 |
|
DIN No.: |
00044782 |
|
|
|
|
Name : |
Mr. Shishir Shivaji Hiray |
|
Designation : |
Director |
|
Address : |
Opposite LIC Camp Road, Malegaon – 423 203, Maharashtra, India |
|
Date of Appointment : |
30.09.2013 |
|
DIN No.: |
02032125 |
|
|
|
|
Name : |
Harshraj Shantilal Bagmar |
|
Designation : |
Additional Director |
|
Address : |
Main Road Dhanraj Nagar, District Amravati, Chandur Railway, Amravati - 444904, Maharashtra, India |
|
Date of Appointment : |
13.11.2014 |
|
DIN No.: |
06939529 |
KEY EXECUTIVES
|
Name : |
Mr. Jagdish |
|
Designation : |
Account Manager |
MAJOR SHAREHOLDERS
As on 30.09.2014
|
Names of Equity Shareholders |
No. of Shares |
|
Crest Steel and Power Private Limited, |
4741684 |
|
Abhay Narendra Lodha |
1 |
|
Ashwin Lodha |
1 |
|
Sheela Lodha |
1 |
|
Mona Lodha |
1 |
|
Surendra Lodha |
1 |
|
Rajesh Kumar Jain |
1 |
|
Total
|
4741690 |
|
Names of Preference Shareholders |
No. of Shares |
|
Crest Steel and Power Private Limited, India |
916667 |
|
Total
|
916667 |
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Iron, steel, pipes and tubes. |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Not Divulged |
||||
|
|
|
||||
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Information declined by the management. |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
Jain and Chhoriya Chartered Accountants |
|
Address : |
59, |
|
PAN
No. : |
AADFJ9495M |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company : |
Crest Steel and Power Private Limited, India CIN No.:
U27109CT2004PTC016643 |
|
|
|
|
Associates : |
Topworth Pipes and Tubes Private Limited, India CIN No.: U29120MH2005PTC157395 Topworth Steels and Power Private Limited, India CIN No.:
U51420MH2004PTC146381 Akshata Mercantile Private Limited, India CIN No.:
U51909MH2001PTC133035 Topworth Infra Private Limited CIN No.:
U45202MH2008PTC182415 |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4750000 |
Equity Shares |
Rs.100/- each |
Rs.475.000 Million |
|
1000000 |
Preference Shares |
Rs.10/- each |
Rs.10.000 Million |
|
|
Total |
|
Rs.485.000
Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4741690 |
Equity Shares |
Rs.100/- each |
Rs.474.169 Million |
|
916667 |
Preference Shares |
Rs.10/- each |
Rs.9.167 Million |
|
|
Total |
|
Rs.483.336
Million |
As on 31.03.2013
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4750000 |
Equity Shares |
Rs.100/- each |
Rs.475.000 Million |
|
1000000 |
Preference Shares |
Rs.10/- each |
Rs.10.000 Million |
|
|
Total |
|
Rs.485.000
Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4224000 |
Equity Shares |
Rs.100/- each |
Rs.422.400 Million |
|
916667 |
Preference Shares |
Rs.10/- each |
Rs.9.167 Million |
|
|
Total |
|
Rs.431.567
Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1) Shareholders' Funds |
|
|
|
|
(a) Share Capital |
431.567 |
326.434 |
175.099 |
|
(b) Reserves & Surplus |
3012.699 |
2220.590 |
821.212 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
170.892 |
155.000 |
939.300 |
|
Total
Shareholders’ Funds (1) + (2) |
3615.158 |
2702.024 |
1935.611 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
3837.565 |
3933.693 |
2303.315 |
|
(b) Deferred tax liabilities
(Net) |
364.526 |
172.114 |
83.561 |
|
(c) Other long term
liabilities |
968.289 |
1194.365 |
671.625 |
|
(d) Long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
5170.380 |
5300.172 |
3058.501 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
893.644 |
808.966 |
508.217 |
|
(b) Trade payables |
5832.693 |
4044.050 |
3914.023 |
|
(c) Other current liabilities |
31.635 |
23.619 |
40.406 |
|
(d) Short-term provisions |
171.417 |
59.148 |
26.718 |
|
Total
Current Liabilities (4) |
6929.389 |
4935.783 |
4489.364 |
|
|
|
|
|
|
TOTAL |
15714.927 |
12937.979 |
9483.476 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
6019.092 |
2575.493 |
2637.232 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
507.321 |
3814.340 |
1455.860 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.840 |
1.840 |
1.840 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
6528.253 |
6391.673 |
4094.932 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
588.647 |
450.628 |
220.123 |
|
(b) Inventories |
1295.914 |
1075.341 |
741.030 |
|
(c) Trade receivables |
5001.316 |
3565.581 |
2883.150 |
|
(d) Cash and cash equivalents |
6.727 |
6.646 |
26.871 |
|
(e) Short-term loans and
advances |
2294.070 |
1448.110 |
1517.370 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
9186.674 |
6546.306 |
5388.544 |
|
|
|
|
|
|
TOTAL |
15714.927 |
12937.979 |
9483.476 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
12193.446 |
10443.628 |
6038.386 |
|
|
Other Income |
42.806 |
36.906 |
29.898 |
|
|
TOTAL
|
12236.252 |
10480.534 |
6068.284 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
10738.304 |
9525.453 |
5650.303 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(240.448) |
(56.133) |
|
|
|
Employees benefits expense |
68.975 |
40.923 |
|
|
|
Other expenses |
293.492 |
170.545 |
|
|
|
TOTAL
|
10860.323 |
9680.788 |
5650.302 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
1375.929 |
799.746 |
417.982 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
627.197 |
374.650 |
201.522 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND
AMORTISATION |
748.732 |
425.096 |
216.460 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/ AMORTISATION |
175.108 |
129.734 |
82.805 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
573.624 |
295.362 |
133.655 |
|
|
|
|
|
|
|
Less |
TAX |
307.181 |
147.653 |
78.211 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
266.443 |
147.709 |
55.444 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE BROUGHT FORWARD |
384.788 |
237.079 |
181.635 |
|
|
|
|
|
|
|
|
BALANCE
CARRIED TO THE B/S |
651.231 |
384.788 |
237.079 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
NA |
NA |
131.897 |
|
|
Components and Spares Parts |
NA |
NA |
1.028 |
|
|
Capital Goods |
NA |
NA |
0.195 |
|
|
Trading activities |
NA |
NA |
194.643 |
|
|
TOTAL
IMPORTS |
NA |
NA |
327.763 |
|
|
|
|
|
|
|
|
Earnings/
(Loss) Per Share (Rs.) |
63.07 |
46.56 |
31.66 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
960.078 |
331.845 |
(351.904) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT/Sales) |
(%) |
2.19 |
1.41 |
0.92 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
11.28 |
7.66 |
6.92 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.77 |
3.24 |
1.66 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16 |
0.11 |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.31 |
1.76 |
1.45 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.33 |
1.33 |
1.20 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
175.099 |
326.434 |
431.567 |
|
Reserves & Surplus |
821.212 |
2220.590 |
3012.699 |
|
Share Application money
pending allotment |
939.300 |
155.000 |
170.892 |
|
Net
worth |
1935.611 |
2702.024 |
3615.158 |
|
|
|
|
|
|
long-term borrowings |
2303.315 |
3933.693 |
3837.565 |
|
Short term borrowings |
508.217 |
808.966 |
893.644 |
|
Total
borrowings |
2811.532 |
4742.659 |
4731.209 |
|
Debt/Equity
ratio |
1.453 |
1.755 |
1.309 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
6038.386 |
10443.628 |
12193.446 |
|
|
|
72.954 |
16.755 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
6038.386 |
10443.628 |
12193.446 |
|
Profit |
55.444 |
147.709 |
266.443 |
|
|
0.92% |
1.41% |
2.19% |
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 |
Yes |
|
8 |
Designation of contact person |
Yes |
|
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 |
No |
|
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
OPERATIONS:
During the year,
the Company’s Net Income from operations stood at Rs.12193.446 Million as
compared to Rs.10443.627 Million in the previous year. Profit before finance
cost and taxation for the year stood at Rs.1375.929 Million against Rs.799.745
Million in the previous year. Profit after Tax increased to Rs.266.443 Million
from Rs.147.709 Million in the previous year.
UNSECURED LOAN
|
PARTICULAR |
31.03.2013 (Rs.
In Million) |
31.03.2012 (Rs.
In Million) |
|
SHORT TERM
BORROWINGS |
|
|
|
Working capital loans from bank |
0.000 |
681.742 |
|
Deferred payment liabilities |
128.701 |
0.000 |
|
Other loans and advances |
0.000 |
127.224 |
|
Total |
128.701 |
808.966 |
INDEX OF CHARGES
|
S. NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10526686 |
13/10/2014 |
150,000,000.00 |
ORIENTAL BANK OF COMMERCE |
LARGE CORPORATE BRANCH MAKER TOWER-E, 14TH FLOOR, CUFFE PARADE, MUMBAI - 400005, MAHARASHTRA, INDIA |
C30316822 |
|
2 |
10503503 |
24/03/2014 |
200,000,000.00 |
BANK OF BARODA |
FORT UNIVERSITY BRANCH, 119, MAHATMA GANDHI MARG, AGRA BUILDING, MUMBAI - 400001, MAHARASHTRA, INDIA |
C06900823 |
|
3 |
10468650 |
05/12/2013 |
550,000,000.00 |
CANARA BANK |
145 FARM LAND,
MAHARJBAGH ROAD,, RAMDASPETH, NAGPUR - 440010, MAHARASHTRA, INDIA |
B92915180 |
|
4 |
10441281 |
26/07/2013 |
300,000,000.00 |
ALLAHABAD BANK |
INDUSTRIAL
FINANCE BRANCH, 37,MUMBAI SAMACHAR MARG,FORT, MUMBAI - 400023, MAHARASHTRA,
INDIA |
B81308629 |
|
5 |
10430874 |
14/05/2015 * |
2,518,100,000.00 |
ALLAHABAD BANK |
INDUSTRIAL FINANCE
BRANCH, 37,MUMBAI SAMACHAR MARG,FORT, MUMBAI - 400023, MAHARASHTRA, INDIA |
C55103873 |
|
6 |
10431076 |
24/05/2013 |
100,000,000.00 |
ORIENTAL BANK OF
COMMERCE |
OVERSEAS BRANCH,
DALAMAL TOWERS,, 211, NARIMAN POINT, MUMBAI - 400021, MAHARASHTRA, INDIA |
B77081487 |
|
7 |
10390654 |
16/11/2012 |
150,000,000.00 |
ALLAHABAD BANK |
INDUSTRIAL
FINANCE BRANCH, 37,MUMBAI SAMACHAR MARG,FORT, MUMBAI - 400023, MAHARASHTRA, INDIA |
B63602544 |
|
8 |
10381548 |
20/09/2012 |
500,000,000.00 |
ALLAHABAD BANK |
INDUSTRIAL
FINANCE BRANCH, FORT, MUMBAI - 400023, MAHARASHTRA, INDIA |
B60085792 |
|
9 |
10372563 |
21/08/2012 |
100,000,000.00 |
PUNJAB NATIONAL
BANK |
FORSHORE ROAD BRANCH,
RAHEJA CHAMBERS, NARIMAN POINT, MUMBAI - 400021, MAHARASHTRA, INDIA |
B56388614 |
|
10 |
10362357 |
12/06/2012 |
450,000,000.00 |
STATE BANK OF
BIKANER AND JAIPUR |
COMMERCIAL
NETWORK BRANCH, 239, P. D'MELLO ROAD, NEAR
G.P.O, MUMBAI - 400001, MAHARASHTRA, INDIA |
B42322958 |
* Date of charge modification
FIXED ASSETS
- Land
- Buildings
- Factory building
- Plant and 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 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.63.50 |
|
|
1 |
Rs.97.85 |
|
Euro |
1 |
Rs.70.49 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
PNM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
|
45 |
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.