MIRA INFORM REPORT
|
Report No. : |
312411 |
|
Report Date : |
14.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
CMC METALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Shop No. 01, 54, Kika Street, Gulalwadi, Mumbai – 400004, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
13.06.2012 |
|
|
|
|
Com. Reg. No.: |
232119 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U52100MH2012PTC232119 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of seamless and welded pipes, silver alloys, mercury. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 5000 |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
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Litigation : |
Clear |
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Comments : |
Even though the company was incorporated on 13th June 2012,
it has commenced its business operations from financial year 2013-14. It is
having moderate track. As per the available financial of 2014, the rating is constrained on
account of company’s short track record of business operations and low
reserves of the company. However, company has achieved decent sales turnover in its first year
of business operations. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealings with some caution.
|
ECGC Country Risk Classification List – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
LOCATIONS
|
Registered Office / Factory : |
Shop No. 01, 54, Kika Street, Gulalwadi, Mumbai – 400004, Maharashtra,
India |
|
Tel. No.: |
91-22-22424940 |
|
Mobile No.: |
91- 9969362943 (Mr.
Hitendra Shah) |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
As on 30.09.2014
|
Name : |
Vijay Chunilal Shah |
|
Designation : |
Director |
|
Address : |
G-32, Sarvodaya Nagar, 1st Panjara Pole Lane, Mumbai - 400004, Maharashtra, India |
|
Date of Birth/Age : |
05.01.1966 |
|
Date of Appointment : |
13.06.2012 |
|
DIN No.: |
05270943 |
|
|
|
|
Name : |
Hitendra Chunilal Shah |
|
Designation : |
Director |
|
Address : |
G-32, Sarvodaya Nagar, 1st Panjara Pole Lane, Mumbai - 400004, Maharashtra, India |
|
Date of Birth/Age : |
23.10.1970 |
|
Date of Appointment : |
13.06.2012 |
|
DIN No.: |
05270954 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Vijay
Chunilal Shah |
|
25,000 |
|
Hitendra
Chunilal Shah |
|
25,000 |
|
Ujamben
Chunilal Shah |
|
20,000 |
|
Preeti
Hitendra Shah |
|
15,000 |
|
Rajkumari Vijay Shah |
|
15,000 |
|
|
|
|
|
Total |
|
100,000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of seamless and welded pipes, silver alloys, mercury. |
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|
|
|
Brand Names : |
Not Available |
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|
|
Agencies Held : |
Not Available |
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|
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Exports : |
Not Available |
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|
|
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Imports : |
Not Available |
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|
|
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Terms : |
Not Available |
PRODUCTION STATUS : NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
Not Available |
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|
|
|
Customers : |
Not Available |
|
|
|
|
No. of Employees : |
Not Available |
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|
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|
Bankers : |
Yes Bank Limited, 9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli,, Mumbai - 400018, Maharashtra, India |
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|
|
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Banking
Relations : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Vinod Sharma and Company Chartered Accountants |
|
Address : |
2, Nand Deep, Sada Nand Park, MHB Colony, Borivali (West), Mumbai –
400091, Maharashtra |
|
E-Mail : |
|
|
PAN N Income-tax PAN of auditor or auditor's firm : |
BANPS1763A |
|
|
|
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Memberships : |
-- |
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|
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Collaborators : |
-- |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100,000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100,000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2014 |
13.06.2012 to 31.03.2013 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
1.000 |
0.500 |
|
(b) Reserves &
Surplus |
|
0.654 |
(0.062) |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
|
1.654 |
0.438 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
6.887 |
0.051 |
|
(b) Trade payables |
|
6.542 |
0.460 |
|
(c) Other current
liabilities |
|
0.257 |
0.000 |
|
(d) Short-term provisions |
|
0.301 |
0.000 |
|
Total Current Liabilities
(4) |
|
13.987 |
0.511 |
|
|
|
|
|
|
TOTAL |
|
15.641 |
0.949 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
0.000 |
0.000 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets
under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other Non-current
assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
4.643 |
0.414 |
|
(c) Trade receivables |
|
7.912 |
0.000 |
|
(d) Cash and cash
equivalents |
|
1.070 |
0.484 |
|
(e) Short-term loans and
advances |
|
0.000 |
0.000 |
|
(f) Other current assets |
|
2.016 |
0.051 |
|
Total Current Assets |
|
15.641 |
0.949 |
|
|
|
|
|
|
TOTAL |
|
15.641 |
0.949 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2014 |
13.06.2012 to 31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
|
48.886 |
0.000 |
|
|
Other Income |
|
0.031 |
0.000 |
|
|
TOTAL (A) |
|
48.917 |
0.000 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of
Stock-in-Trade |
|
48.312 |
0.414 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(4.229) |
(0.414) |
|
|
Employees benefits
expense |
|
2.115 |
0.000 |
|
|
Other expenses |
|
1.198 |
0.062 |
|
|
TOTAL (B) |
|
47.396 |
0.062 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
|
1.521 |
(0.062) |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
|
0.504 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
1.017 |
(0.062) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
|
1.017 |
(0.062) |
|
|
|
|
|
|
|
Less |
TAX (H) |
|
0.301 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-H) (I) |
|
0.716 |
(0.062) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
|
0.008 |
0.000 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
|
12.746 |
0.000 |
|
|
TOTAL IMPORTS |
|
12.746 |
0.000 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
|
7.16 |
(0.62) |
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2014 |
13.06.2012 to 31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
|
1.46 |
0.00 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
|
3.11 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
6.50 |
(6.53) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.61 |
(0.14) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
|
4.16 |
0.12 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.12 |
1.86 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
|
31.03.2013 |
31.03.2014 |
|
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
|
0.500 |
1.000 |
|
Reserves & Surplus |
|
(0.062) |
0.654 |
|
Share Application money pending allotment |
|
0.000 |
0.000 |
|
Net worth |
|
0.438 |
1.654 |
|
|
|
|
|
|
long-term borrowings |
|
0.000 |
0.000 |
|
Short term borrowings |
|
0.051 |
6.887 |
|
Total borrowings |
|
0.051 |
6.887 |
|
Debt/Equity ratio |
|
0.116 |
4.164 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
|
31.03.2013 |
31.03.2014 |
|
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
|
0.000 |
48.886 |
NET PROFIT MARGIN
|
Net Profit Margin |
|
31.03.2013 |
31.03.2014 |
|
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
|
0.000 |
48.886 |
|
Profit/Loss |
|
(0.062) |
0.716 |
|
|
|
1.46% |
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
two years |
Yes |
|
12] |
Profitability for last
two 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 |
No |
|
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 |
No |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Short-term
borrowings |
|
|
|
Loan |
|
|
|
Ujamben Shah |
3.492 |
0.051 |
|
Preeti Shah |
1.110 |
0.000 |
|
Vijay Shah |
2.285 |
0.000 |
|
Total |
6.887 |
0.051 |
FINANCIAL RESULTS:
The Company has achieved gross sales of Rs. 51.869 Million and earned net profit of Rs.0.716 Million resulting out of transaction during the year.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number (CIN)
or foreign company registration number of the company |
U52100MH2012PTC232119 |
|
Name of the
company |
CMC Metals
Private Limited |
|
Address of the
registered office or of the principal place of business in India of the company |
Shop No- 01, 54, Kika Street, Gulalwadi MUMBAI – 400004, Maharashtra, India Email-id:- cmcvijay@gmail.com |
|
This form is for |
Creation
of charge |
|
Charge
identification (ID) number of the charge to be modified |
-- |
|
Type of charge |
Book debts and Others Current Assets and Moveable Fixed Assets |
|
Particular of
charge holder |
Yes Bank Limited, 9th Floor, Nehru Centre, Discovery Of India, Dr. Annie Besant Road, Worli, Mumbai – 400018, Maharashtra, India Email: dlbbcadmum@yesbank.in |
|
Nature of
instrument creating charge |
Deed of
hypothecation |
|
Date of
instrument Creating the charge |
15/02/2014 |
|
Amount secured by
the charge |
Rs. 17.500
Million |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest LUT for BC: 1.50%
p.a. plus applicable taxes. CC (Sub limit of
BC): 1.50% above Yes Bank Base rate prevailing from time to time. LC (Sub limit of
BC): 1.50% p.a. plus applicable taxes. Terms of
Repayment LUT for BC: 90
days. CC (Sub limit of
BC): 12 months subject to payable on demand/ annual review. LC (Sub limit of
BC): 30 Days. Margin As may be
stipulated by the Bank from time to time. Margins CC (Sub limit of
BC): 25% on book debts less than 90
days plus stocks less creditors. Extent and
Operation of the charge Exclusive charge
on current assets and moveable fixed assets both present and future. Others NIL |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Exclusive charge
on current assets and moveable fixed assets both present and future. |
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 records 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.62.67 |
|
|
1 |
Rs.93.16 |
|
Euro |
1 |
Rs.66.42 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
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 |
NO |
|
--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 |
|
26 |
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.