MIRA INFORM REPORT
|
Report No. : |
327428 |
|
Report Date : |
17.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
NAV DURGA FUEL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Infinity Benchmark, 6th Floor, Office No. 8, Pl, G1 Block, EP and GP,
Sec-V, Salt Lake Electronic Complex, Kolkata – 700091, West Bengal |
|
Tel. No.: |
91-33-23576382 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
10.02.2004 |
|
|
|
|
Com. Reg. No.: |
21-097816 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 362.984
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U23109WB2004PTC097816 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALN02859D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCN9131F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Trader of Sponge Iron, Ingots and TMT Bars. |
|
|
|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 3910000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Nav Durga Fuel Private Limited belonging to Gadodia Family of Orissa
and it is engaged in manufacturing of sponge iron, ingots and TMT bars. It is an established company having moderate track record. The company has incurred a huge loss from its operation during 2014. However, trade relations are fair. Business is active. Payments 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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 |
CARE |
|
Rating |
Long term Bank facilities = B |
|
Rating Explanation |
Have risk prone credit quality and carries
very high credit risk. |
|
Date |
April 09, 2015 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term Bank facilities = A4 |
|
Rating Explanation |
Have minimal degree of safety and carry very
high credit risk. |
|
Date |
April 09, 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 PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Shravan |
|
Designation : |
Company Secretary |
|
Contact No.: |
91-33-23576382 |
|
Date : |
16.06.2015 |
LOCATIONS
|
Registered Office : |
Infinity Benchmark, 6th Floor, Office No. 8, Pl, G1 Block, EP and GP,
Sec-V, Salt Lake Electronic Complex, Kolkata – 700091, West Bengal, India |
|
Tel. No.: |
91-33-23576382 |
|
Fax No.: |
91-33-23576382 |
|
E-Mail : |
|
|
|
|
|
Warehouse : |
P.O. and Village Saraipali, Gharghoda, District Raigarh, Chhattisgarh,
India |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Rajesh Kumar Gadodia |
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Designation : |
Director |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Address : |
Main Road, Rajgangpur, Sundergarh - 770017, Orissa, India |
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Date of Birth/Age : |
03.03.1969 |
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Date of Appointment : |
31.01.2007 |
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DIN No.: |
00574465 |
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Other Directorship :
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|
Name : |
Mr. Nimish Gadodia |
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|
Designation : |
Director |
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Address : |
Main Road, Rajgangpur, Sundergarh - 770017, Orissa, India |
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Date of Birth/Age : |
27.12.1973 |
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Date of Appointment : |
31.01.2007 |
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DIN No.: |
01258815 |
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Other Directorship :
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KEY EXECUTIVES
|
Name : |
Mr. Shravan Agrawal |
|
Designation : |
Company Secretary |
|
Address : |
258/B, Bangur Avenue, Block – B, Kolkata – 700055, West Bengal, India |
|
Date of Birth/Age : |
02.06.1984 |
|
Date of Appointment : |
02.09.2013 |
|
PAN No.: |
AQCPA8481D |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Rajesh Gadodia |
|
900000 |
|
Nimish Gadodia |
|
956810 |
|
Artline Commerce Private Limited, India |
|
10645900 |
|
Benco Finance and Investment Private Limited, India |
|
20000 |
|
Bonanza Tie up Private Limited, India |
|
30000 |
|
Manjit Management Services Private Limited, India |
|
377272 |
|
Bayanwala Brothers Private Limited, India |
|
1220000 |
|
Manxine Agencies Private Limited, India |
|
5473340 |
|
Brindaban Sales Private Limited, India |
|
4398000 |
|
Amritphal Dealer Private Limited, India |
|
4810900 |
|
Gopikar Supply Private Limited, India |
|
870000 |
|
Jamshedpur Securities Limited, India |
|
2671000 |
|
Ascon Merchanhdise Private Limited, India |
|
2840427 |
|
Consolidated Mercantiles Private Limited, India |
|
976000 |
|
Archana Gadodia |
|
140000 |
|
Binita Gadodia |
|
324090 |
|
Apex Real Estate Private Limited, India |
|
2630182 |
|
Peacock Vinimay Private Limited, India |
|
204545 |
|
Shhivangan Advisory Services Private Limited, India |
|
808966 |
|
Lucre Merchant Private Limited, India |
|
295454 |
|
|
|
|
|
Total |
|
40592886 |
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
93.69 |
|
Directors
or relatives of directors |
6.31 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Sponge Iron, Ingots and TMT Bars. |
|
|
|
|
Brand Names : |
-- |
|
|
|
|
Agencies Held : |
-- |
|
|
|
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Exports : |
|
|
Products : |
-- |
|
Countries : |
-- |
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|
|
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Imports : |
|
|
Products : |
-- |
|
Countries : |
-- |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Cheque |
|
|
|
|
Purchasing : |
Cash and Cheque |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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|
|
||||||||||||||||||||||||
|
No. of Employees : |
100 (Approximately) |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
·
Andhra Bank Baramunda Branch, Bhubaneswar - 751003, Orissa,
India ·
HDFC Bank Limited HDFC Bank House, Senapati Bapat Marg, Lower Parel
[West], Mumbai - 400013, Maharashtra, India ·
State Bank of Indore M. G. Road, Raipur - 492001, Chattisgarh, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
· SREI Equipment Finance Private Limited 'Vishwakarma', 86C, Topsia Road, Kolkata - 700046, West Bengal, India |
|
|
|
|
Auditors : |
|
|
Name : |
S R B and Associates Chartered Accountants |
|
Address : |
5th Floor, IDCO Tower, Janapath, Bhubaneswar – 751022, Odisha, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAXFS6281Q |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associates : |
· Scan Steels Limited · Scan Energy and Power Limited |
CAPITAL STRUCTURE
AFTER 30.09.2014
Authorised Capital : Rs. 500.000 Million
Issued, Subscribed & Paid-up Capital : Rs. 410.253
Million
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 500.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40,592,886 |
Equity Shares |
Rs. 10/- each |
Rs. 405.929
Million |
|
|
|
|
|
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 500.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
36,298,360 |
Equity Shares |
Rs. 10/- each |
Rs. 362.984
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 |
362.984 |
353.211 |
273.982 |
|
(b) Reserves & Surplus |
1005.626 |
1208.641 |
1195.542 |
|
(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) |
1368.610 |
1561.852 |
1469.524 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
335.071 |
415.922 |
663.628 |
|
(b) Deferred tax liabilities (Net) |
160.549 |
45.009 |
37.559 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.013 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
495.620 |
460.931 |
701.200 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
388.394 |
299.511 |
284.891 |
|
(b)
Trade payables |
718.528 |
597.151 |
495.034 |
|
(c)
Other current liabilities |
369.233 |
371.874 |
379.380 |
|
(d)
Short-term provisions |
1.676 |
19.770 |
7.601 |
|
Total
Current Liabilities (4) |
1477.831 |
1288.306 |
1166.906 |
|
|
|
|
|
|
TOTAL |
3342.061 |
3311.089 |
3337.630 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
2264.799 |
2069.846 |
737.165 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
22.426 |
141.117 |
1291.692 |
|
(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 |
11.987 |
10.814 |
10.733 |
|
(e)
Other Non-current assets |
0.554 |
0.406 |
0.240 |
|
Total
Non-Current Assets |
2299.766 |
2222.183 |
2039.830 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
581.018 |
810.084 |
1053.695 |
|
(c)
Trade receivables |
354.050 |
193.801 |
99.619 |
|
(d)
Cash and cash equivalents |
36.606 |
35.610 |
46.564 |
|
(e)
Short-term loans and advances |
62.379 |
44.900 |
96.784 |
|
(f)
Other current assets |
8.242 |
4.511 |
1.138 |
|
Total
Current Assets |
1042.295 |
1088.906 |
1297.800 |
|
|
|
|
|
|
TOTAL |
3342.061 |
3311.089 |
3337.630 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
1422.069 |
1082.946 |
838.982 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
1542.769 |
1379.314 |
800.996 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(120.700) |
(296.368) |
37.986 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
115.540 |
7.449 |
10.711 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(236.240) |
(303.817) |
27.275 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
(140.409) |
163.408 |
136.133 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(376.649) |
(140.409) |
163.408 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(6.51) |
(8.60) |
1.00 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
234.643 |
279.502 |
170.927 |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.64) |
(9.35) |
1.86 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.09) |
(0.19) |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.70 |
0.64 |
0.76 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.71 |
0.85 |
1.11 |
Total Liability = Short-term Debt + Long-term Debt + Current Maturities
of Long-term debts
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 |
273.982 |
353.211 |
362.984 |
|
Reserves & Surplus |
1195.542 |
1208.641 |
1005.626 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1469.524 |
1561.852 |
1368.610 |
|
|
|
|
|
|
Long-term borrowings |
663.628 |
415.922 |
335.071 |
|
Short term borrowings |
284.891 |
299.511 |
388.394 |
|
CURRENT MATURITIES OF LONG-TERM DEBTS |
170.927 |
279.502 |
234.643 |
|
Total
borrowings |
1119.446 |
994.935 |
958.108 |
|
Debt/Equity ratio |
0.762 |
0.637 |
0.700 |
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) |
|
Total Income |
838.982 |
1082.946 |
1422.069 |
|
|
|
29.079 |
31.315 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
838.982 |
1082.946 |
1422.069 |
|
Profit/ (Loss) |
27.275 |
(303.817) |
(236.240) |
|
|
3.25% |
(28.05%) |
(16.61%) |
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 |
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10451964 |
26/09/2013 |
10,000,000.00 |
SREI EQUIPMENT
FINANCE PRIVATE LIMITED |
'VISHWAKARMA',
86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B86160207 |
|
2 |
10423587 |
25/04/2013 |
50,000,000.00 |
SMALL INDUSTRIES
DEVELOPMENT BANK OF INDIA |
HOTEL NIDHI, POWER
HOUSE ROAD, ROURKELA, ORISSA - |
B74367798 |
|
3 |
10197126 |
29/12/2009 |
6,450,700.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE
SENAPATI BAPAT MARG, LOWER PAREL |
A77647311 |
|
4 |
10200703 |
20/12/2009 |
4,410,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE
SENAPATI BAPAT MARG, LOWER PAREL |
A78784170 |
|
5 |
10146610 |
21/01/2009 |
4,558,791.00 |
SREI EQUIPMENT
FINANCE PRIVATE LIMITED |
'VISHWAKARMA',
86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
A57554933 |
|
6 |
10122309 |
04/08/2008 |
3,260,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE,
SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
A45828134 |
|
7 |
90256692 |
28/09/2005 * |
315,200,000.00 |
STATE BANK OF
INDIA |
COMMERCIAL BRANCH,
FCI GODOWN ROAD; TARBAHAR, BILASPUR, MADHYA PRADESH, INDIA |
- |
|
8 |
80059174 |
07/03/2005 |
1,000,000.00 |
ICICI BANK LTD |
ZENITH HOUSE,
KESHAVRAO KHYADE MARG, MUMBAI, MAHARASHTRA - 400034, INDIA |
- |
|
9 |
90256478 |
12/03/2015 * |
1,008,300,000.00 |
STATE BANK OF
INDIA |
SME BRANCH,
ROURKELA, BISRA CHOWK, DIST: SUDERGARH, ROURKELA, ORISSA - 769001, INDIA |
C50743335 |
* Date of charge modification
CHANGE OF ADDRESS:
The Registered Office of the Company has been shifted from 9, Lal Bazar Street,
1st Floor, Block A, Room No. 14, Kolkata - 700001, West Bengal, India to the
present address w.e.f.11.05.2009
CORPORATE
INFORMATION:
Subject is a company domiciled in India and incorporated under the
provisions of the Companies Act, 1956. The Company is engaged in the
Manufacturing and Selling of Sponge Iron, MS Ingot/Billet, MS Rod and in
generation of power for captive consumption.
REVIEW OF OPERATIONS
The
Business has performed well, with productivity gains, growth in volumes and
sustained margins notwithstanding rise in inputs costs. The business continues
to be successful despite of several environmental constrains. The Company’s
ability to neutralize cost increase and improve margin together with purchasing
efficiencies, improvements in manufacturing yield / usage and expenses control
helped in increasing the profitability. The performance had established a new
milestone for the company.
FUTURE OUTLOOK AND GROWTH
Currently,
the Steels business account for nearly 100% of its revenues. The outlook for
its margins and profitability for this business depends on overall economic
outlook. This company is likely to benefit most from an upturn in the business
cycle, given its scale of operations and its competitive cost positions. Today,
it is truly a market-driven company, making innovative changes and
technological improvements, leaving no stone, unturned in fulfilling dreams of
its founding fathers, tuning every activity to meet the subtle demands of its
customers.
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and equipment
·
Factory equipments
·
Other plant and equipment
·
Furniture and fixtures
·
Vehicles
·
Office equipment
·
Computer equipments
·
Other equipments
·
Leasehold improvements
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 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. 64.15 |
|
|
1 |
Rs. 100.04 |
|
Euro |
1 |
Rs. 72.27 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.