MIRA INFORM REPORT
|
Report No. : |
308721 |
|
Report Date : |
30.03.2015 |
IDENTIFICATION DETAILS
|
Name: |
RAGHNI FERRO ALLOYS PRIVATE LIMITED (w.e.f. 15.09.2009) |
|
|
|
|
Formerly Known
As : |
RAAGHNI ENTERPRISES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
8/28, W.E.A., Abdul Aziz Road, Karol Bagh, New Delhi – 110005 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
07.10.2008 |
|
|
|
|
Com. Reg. No.: |
11-184009 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.980 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51109DL2008PTC184009 |
|
|
|
|
IEC No.: |
0511008201 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
DELR21653C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECR1762P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Silico Manganese. |
|
|
|
|
No. of Employees
: |
145 (Approximately) [In Office: 10 + In Factory: 135] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (17) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Yet to commence its business operation |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Even though the company was incorporated on 7th October,
2008, it is yet to commence its business operations as per available
financial of 2014. The company has incurred non-operating loss during FY 2014. However, Ms. Pavithra Yedugani (Financial Adviser) claimed that the
company has started its operations from January 2015. Business is active as per status shown in the registrar of companies.
Payment terms are unknown. The company can be considered for business dealings on safe and
secured 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.
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
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.
INFORMATION PARTED BY
|
Name : |
Mr. Gokapai Madhu Kumar |
|
Designation : |
Director |
|
Contact No.: |
91-9999969621 |
|
Date : |
18.03.2015 |
LOCATIONS
|
Registered Office : |
8/28, W.E.A., Abdul Aziz Road, Karol Bagh, New Delhi – 110005, India |
|
Tel. No. : |
Not Available |
|
Mobile No. : |
91-9999969621 (Mr. Gokapai Madhu Kumar) 91-9849022028 (Mr. Maddala Veera Srinivas Rao) 91-9885978995 (Ms. Pavithra Yedugani) |
|
Fax No. : |
Not Available |
|
E-Mail : |
|
|
|
|
|
Corporate Office : |
B-74, F5, Vijay Nagar Colony, Hyderabad – 500457, Andhra Pradesh,
India |
|
Area : |
600 Sq. Ft. |
|
Location : |
Owned by Promoter |
|
|
|
|
Administrative Office : |
Plot No. 114, Udyog Vihar, Phase-VI, Gurgaon – 122001, Haryana, India |
|
Area : |
630 Sq. Yards Built up area 3000 Sq. Ft. |
|
Location : |
Owned by Max Broadnet Services Private Limited |
|
|
|
|
Factory : |
Survery Nos. 71 & 72 part of Agaram Village, Nagari Mandal,
Chittoor District - 517591, Andhra Pradesh, Andhra Pradesh, India |
|
E-Mail : |
|
|
Area : |
10.82 Acres |
|
Location : |
Owned by Raghni Ferro Alloys Private Limited |
DIRECTORS
As on 26.09.2011
|
Name : |
Mr. Madhu Kumar Gokapai |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
D-II/359, Pandara Road, New Delhi – 110003, India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
23.04.1969 |
||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
·
PGDM from Indian Institute of Management, Ahmedabad
(Batch of 1992) ·
Bachelor of Engineering, University College of
Engineering, Osmania University |
||||||||||||||||||||||||||||||||||||||||
|
Experience : |
22 Years |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
07.10.2008 |
||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AGYPK5399J |
||||||||||||||||||||||||||||||||||||||||
|
Passport No. : |
F2918403 |
||||||||||||||||||||||||||||||||||||||||
|
DIN No. : |
00370407 |
||||||||||||||||||||||||||||||||||||||||
|
Profile : |
Mr. Madhu Kumar Gokapai has 19 years of business experience as per the
information given by the company. He has experience in setting up new
business and consulting. He has expertise in business development, business process re-engineering,
corporate strategies, etc. He also has experience in the ferro alloy industry for last six year
by sourcing raw material such as manganese ore, chrome ore, ferro alloys like
high carbon ferro chrome, silico manganese, ferro silicon, high carbon ferro
manganese and others as per the company. He is also been involved in setting up ferro alloy manufacturing
plants and their financing. He also has experience in IT industry through selling solutions to
business verticals like automobiles, mining, hospitality, stock broking,
BPOs, networking, broadband, education and training. |
||||||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Maddala Veera Srinivas Rao |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
202, Jhansi Residency, Nizampet Road, Hydernagar Kukatpally, Hyderabad
- 500072, Andhra Pradesh, India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
08.04.1968 |
||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
·
Mr. M.V. Srinivasa Rao is a graduate in
Electronics and Communications Engineering from the College of Engineering,
Osmania University in Hyderabad ·
Post graduate in Management from the Indian
Institute and Management, Ahmedabad |
||||||||||||||||||||||||||||||||||||||||
|
Experience : |
22 Years |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
29.02.2012 |
||||||||||||||||||||||||||||||||||||||||
|
PAN No. : |
ABOPS9467L |
||||||||||||||||||||||||||||||||||||||||
|
Passport No. : |
E8089681 |
||||||||||||||||||||||||||||||||||||||||
|
DIN No. : |
00816334 |
||||||||||||||||||||||||||||||||||||||||
|
Profile : |
Currently, he is working as VP-Management Consulting with Best and
Crompton Engineering Projects Limited. Mr. Maddala Veera Srinivas Rao has over 19 years of experience, of
which he has been with the Management Consulting division of Deloitte, India
for 18 Years, where his responsibilities included building and growing the
management consulting practice as an independent profit centre. His experience spans across formulating and implementing corporate
strategy for clients across pharmaceutical, steel and infrastructure sectors.
Business transformation engagements involving process reengineering, aligning
HR strategy with corporate strategy, risk management, cost, management,
market opportunity identification and marketing channel management for
clients across automobile components, carbide cutting tools, earth moving
machinery, steel, infrastructure, fertilizer and microfinance industries. Financial restructuring involving detailed financial modelling,
defining, risk framework and carrying out the risk assessment, financial
analysis and restructuring for long term visibility and profit optimization
across machine tools, steel and fertilizer industries. Business and brand
valuations across pharmaceuticals, fertilizer, other manufacturing, banking
and NBFC, information technology and BPO industries. Mr. Maddala Veera Srinivas Rao has insights into corporate governance
and management of business in promoter driven enterprises as he has worked
with various promoter driven enterprises while he was working with Deloitte. |
||||||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Ms. Pavithra Yedugani |
|
Designation : |
Financial Adviser |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As 31.03.2014
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Max Broadnet Services Private Limited |
88000 |
89.81 |
|
Gokapai Madhu Kumar |
9990 |
10.19 |
As on 26.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
89.80 |
|
Directors or relatives of Directors |
10.20 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Silico Manganese. |
|
|
|
|
Products : |
Silico Manganese |
|
|
|
|
Brand Names : |
-- |
|
|
|
|
Agencies Held : |
-- |
|
|
|
|
Exports : |
-- |
|
|
|
|
Imports : |
-- |
|
|
|
|
Terms : |
-- |
PRODUCTION STATUS
|
Particulars |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
Silico Manganese (Proposed, Greenfield Project, etc.) |
17000 mt |
12000 mt |
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
145 (Approximately) [In Office: 10 + In Factory: 135] |
||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
· Oriental Bank of Commerce, SCO-69, Huda Market, Sector-15, Faridabad – 121007, Haryana, India |
||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
-- |
||||||||||||||||||||||||||||||||||||||||||||
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Borar and Associates Chartered Accountants |
|
Address : |
35, Neelam Bata Road, N.I.T., Faridabad – 121001, Haryana, India |
|
Tel. No. : |
91-129-4158006 |
|
E-Mail : |
|
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associates/Subsidiaries : |
Max Broadnet Service Private Limited Address: Plot No. 114, Udyog
Vihar, Phase-VI, Gurgaon - 122001, Haryana, India |
CAPITAL STRUCTURE
As on 12.03.2015
(PROVISIONAL)
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 |
|
|
|
|
|
|
98,000 |
Equity Shares |
Rs.10/- each |
Rs. 0.980 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
12.03.2015 (Provisional) |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
|
(a) Share Capital |
0.980 |
0.980 |
0.980 |
0.980 |
|
(b) Reserves & Surplus |
6.242 |
6.464 |
6.806 |
7.275 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
7.222 |
7.444 |
7.786 |
8.255 |
|
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
|
(a) Short term
borrowings |
0.000 |
0.000 |
0.000 |
2.188 |
|
(b) Trade
payables |
0.000 |
0.000 |
0.000 |
0.000 |
|
(c) Other
current liabilities |
0.045 |
0.045 |
0.069 |
0.025 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
0.000 |
0.000 |
|
Total Current Liabilities
(4) |
0.045 |
0.045 |
0.069 |
2.213 |
|
|
|
|
|
|
|
TOTAL |
7.267 |
7.489 |
7.855 |
10.468 |
|
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
|
(1) Non-current assets |
|
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
|
(i) Tangible
assets |
2.958 |
2.958 |
2.958 |
2.850 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.854 |
0.679 |
0.329 |
0.329 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
0.534 |
|
Total Non-Current
Assets |
3.812 |
3.637 |
3.287 |
3.713 |
|
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
0.000 |
|
(c) Trade
receivables |
0.000 |
0.000 |
0.000 |
0.000 |
|
(d) Cash
and cash equivalents |
1.419 |
0.910 |
1.090 |
3.175 |
|
(e)
Short-term loans and advances |
2.036 |
2.942 |
3.469 |
3.563 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.009 |
0.017 |
|
Total Current
Assets |
3.455 |
3.852 |
4.568 |
6.755 |
|
|
|
|
|
|
|
TOTAL |
7.267 |
7.489 |
7.855 |
10.468 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
12.03.2015 (Provisional) |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
Income |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
Other Income |
0.006 |
0.001 |
0.169 |
0.149 |
|
|
|
TOTAL |
0.006 |
0.001 |
0.169 |
0.149 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
Employees benefits expense |
0.113 |
0.132 |
0.114 |
0.105 |
|
|
|
Other expenses |
0.114 |
0.210 |
0.514 |
0.059 |
|
|
|
TOTAL |
0.227 |
0.342 |
0.628 |
0.164 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION |
(0.221) |
(0.341) |
(0.459) |
(0.015) |
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.001 |
0.001 |
0.010 |
0.191 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
(0.222) |
(0.342) |
(0.469) |
(0.206) |
|
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(0.222) |
(0.342) |
(0.469) |
(0.206) |
|
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(1.456) |
(1.114) |
(0.645) |
(0.439) |
|
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(1.678) |
(1.456) |
(1.114) |
(0.645) |
|
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(2.27) |
(3.48) |
(4.79) |
(2.10) |
|
KEY RATIOS
|
PARTICULARS |
|
12.03.2015 (Provisional) |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
0.00 |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.46) |
(5.02) |
(6.23) |
(2.03) |
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.03) |
(0.05) |
(0.06) |
(0.02) |
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.00 |
0.27 |
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
76.78 |
85.60 |
66.20 |
3.05 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
0.980 |
0.980 |
0.980 |
|
Reserves & Surplus |
7.275 |
6.806 |
6.464 |
|
Net
worth |
8.255 |
7.786 |
7.444 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
2.188 |
0.000 |
0.000 |
|
Total
borrowings |
2.188 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.265 |
0.000 |
0.000 |
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years and eleven months |
Yes |
|
12] |
Profitability for last
three years and eleven months |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming financial
year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
Yes |
|
34] |
External Agency Rating,
if available |
No |
------------------------------------------------------------------------------------------------------------------------------
MR. MADHU KUMAR GOKAPAI
COMPUTATION OF TOTAL INCOME
(RS. IN MILLIONS)
|
PARTICULARS |
31.03.2014 |
||
|
|
|
|
|
|
Income From Salary
(Chapter IV A) |
|
|
0.180 |
|
|
|
|
|
|
MAX BROADNET SERVICES PRIVATE LIMITED |
|
|
|
|
Plot No. 114, Udyog Vihar, Gurgaon, Haryana |
|
|
|
|
Salary |
|
0.180 --------- |
|
|
|
|
|
|
|
Income from House Property
(Chapter IV C) |
|
|
(0.294) |
|
|
|
|
|
|
H. No. 213, Sector-21A Faridabad (Haryana) |
|
|
|
|
|
|
|
|
|
Annual Lettable Value Rs. 0.238 Million |
|
|
|
|
Rent Receivable Rs. 0.000 Million |
|
|
|
|
High of Above |
0.238 --------- |
|
|
|
Annual Rental Value u/s 23 |
|
0.238 |
|
|
Less: |
|
|
|
|
Deduction u/s 24 (a) |
0.071 |
|
|
|
Interest |
0.461 --------- |
|
|
|
|
|
0.532 |
|
|
|
|
--------- (0.294) --------- |
|
|
|
|
|
|
|
Income from Other Sources
(Chapter IV F) |
|
|
1.006 |
|
|
|
|
|
|
Interest from Saving Bank A/c |
|
0.035 |
|
|
Commission Received |
|
0.898 |
|
|
Consultancy Charges |
|
0.073 |
|
|
|
|
--------- 1.006 --------- |
|
|
Gross Total Income |
|
|
0.892 |
|
|
|
|
|
|
Less: Deductions
(Chapter VI-A) |
|
|
|
|
u/s 80C |
|
|
|
|
L.I.P. |
0.228 |
|
|
|
House Loan |
0.090 --------- |
|
|
|
Total |
0.317 |
|
|
|
|
|
0.100 |
|
|
u/s 80TTA (Interest from Saving Bank Account) |
|
0.010 --------- |
|
|
|
|
|
0.110 --------- |
|
Total Income |
|
|
0.782 |
|
Rounded off u/s 288 A |
|
|
0.782 |
|
Adjusted total Income (ATI) is not more than Rs. 2.000 Million hence AMT not applicable. |
|
|
|
|
|
|
|
|
|
Tax Due |
|
0.086 |
|
|
Education Cess |
|
0.003 --------- |
|
|
|
|
0.089 |
|
|
T.D.S. |
|
0.090 ------- |
|
|
|
|
(0.001) |
|
|
Refundable (Round off u/s 288B) |
|
0.001 |
|
------------------------------------------------------------------------------------------------------------------------------
PROJECT COST AND
MEANS OF FINANCE
The details of the project cost are shown below:
COST OF PROJECT
(RS.IN MILLION)
|
PARTICULARS |
AMOUNT |
PERCENTAGE |
|
|
|
|
|
Land Cost |
2.900 |
1% |
|
|
|
|
|
Land Development Cost |
22.600 |
6% |
|
|
|
|
|
Cost of Construction |
70.000 |
18% |
|
|
|
|
|
Machine Cost |
144.100 |
37% |
|
|
|
|
|
MFA |
12.900 |
3% |
|
|
|
|
|
Electricals |
36.400 |
9% |
|
|
|
|
|
Contingency – 5% |
14.300 |
4% |
|
|
|
|
|
Soft Cost |
|
|
|
|
|
|
|
Pre-Operative Cost |
19.400 |
5% |
|
|
|
|
|
Preliminary Cost |
9.600 |
2% |
|
|
|
|
|
Deposits |
14.300 |
4% |
|
|
|
|
|
IDC |
27.000 |
7% |
|
|
|
|
|
Margin |
19.900 |
5% |
|
|
|
|
|
Total |
393.300 |
100% |
· The company has planned to establish Ferro alloy unit Near Nagri and the project cost estimated as per the assessment of D&B India is INR 393.300 Millions. Major cost of INR 193.400 Millions is projected towards purchases of machineries, miscellaneous fixed asset and electrical items.
· The cost towards building the infrastructure and site development by RFAPL is estimated at INR 70.000 Millions. The construction of factory building is yet to start.
· The project is funded by a mix of promoter’s contribution and term loan. The details are as follows:
MEANS OF FINANCE
(RS.IN MILLION)
|
S. No. |
PARTICULARS |
AMOUNT |
PERCENTAGE |
|
|
|
|
|
|
1 |
Equity/ Unsecured Loans |
133.700 |
34.00% |
|
|
|
|
|
|
2 |
Term Loan from Bank |
259.600 |
66.00% |
|
|
|
|
|
|
3 |
Total |
393.300 |
100.00 |
· The Term loan component is proposed at 66% of total project cost
· The promoters contribution by means of Equity/ Unsecured Loans for the project is estimated at INR 133.700 Millions.
Term Loan
· Term Loan disbursement is planned to begin to begin in January 2015 (4th Quarter FY 15) and is scheduled to be completed in January 2016 (Last Quarter FY16).
· The Interest rate considered as per the term sheet is 14.00% per annum.
· The term loan repayment starts from April 2017 and the entire term loan is repaid in 84 equal monthly instalments. The term loan repayment summary and payment type is given in the next exhibit.
|
YEARS |
FY 17 |
FY 18 |
FY 19 |
FY 20 |
FY 21 |
FY 22 |
FY 23 |
FY 24 |
TOTAL |
|
|
|
|
|
|
|
|
|
|
|
|
Interest |
36.300 |
33.700 |
28.600 |
23.400 |
18.200 |
13.000 |
7.100 |
1.400 |
161.700 |
|
|
|
|
|
|
|
|
|
|
|
|
Repayment |
0.000 |
37.100 |
37.100 |
37.100 |
37.100 |
37.100 |
37.100 |
37.100 |
259.600 |
The details of IDC
are shown below:
|
IDC |
27.000 |
------------------------------------------------------------------------------------------------------------------------------
DEBT SERVICE COVERAGE
RATIO CALCULATION
(RS.IN MILLION)
|
PARTICULAR |
FY 17 |
FY 18 |
FY 19 |
FY 20 |
FY 21 |
FY 22 |
|
PAT |
50.200 |
43.800 |
58.100 |
61.900 |
58.000 |
66.500 |
|
|
|
|
|
|
|
|
|
Depreciation |
17.200 |
17.200 |
17.200 |
17.200 |
17.200 |
17.200 |
|
|
|
|
|
|
|
|
|
Written Offs |
1.900 |
1.900 |
1.900 |
1.900 |
1.900 |
0.000 |
|
|
|
|
|
|
|
|
|
Interest on TL’s |
36.300 |
33.700 |
28.600 |
23.400 |
18.200 |
13.000 |
|
|
|
|
|
|
|
|
|
Total |
105.700 |
96.700 |
105.800 |
104.400 |
95.300 |
96.700 |
|
|
|
|
|
|
|
|
|
Interest on TL’s |
36.300 |
33.700 |
28.600 |
23.400 |
18.200 |
13.000 |
|
|
|
|
|
|
|
|
|
Repayment |
0.000 |
37.100 |
37.100 |
37.100 |
37.100 |
37.100 |
|
|
|
|
|
|
|
|
|
Total |
36.300 |
70.800 |
65.600 |
60.400 |
55.200 |
50.100 |
|
|
|
|
|
|
|
|
|
Yearly DSCR |
2.91 |
1.37 |
1.61 |
1.73 |
1.73 |
1.93 |
|
|
|
|
|
|
|
|
|
Average DSCR |
1.75 |
|||||
------------------------------------------------------------------------------------------------------------------------------
PROJECTED PROFIT AND LOSS
ACCOUNT
(RS.IN MILLION)
|
PARTICULAR |
FY 17 |
FY 18 |
FY 19 |
FY 20 |
FY 21 |
FY 22 |
|
|
|
|
|
|
|
|
|
Gross Sales |
469.700 |
555.300 |
640.800 |
683.500 |
683.500 |
726.200 |
|
|
|
|
|
|
|
|
|
Taxes (Provision – 4%) |
18.800 |
22.200 |
25.600 |
27.300 |
27.300 |
29.000 |
|
|
|
|
|
|
|
|
|
Total Sales |
450.900 |
533.100 |
615.100 |
656.200 |
656.200 |
697.200 |
|
|
|
|
|
|
|
|
|
Variable Cost |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Raw Materials |
147.400 |
174.000 |
200.800 |
214.100 |
214.100 |
227.500 |
|
|
|
|
|
|
|
|
|
Consumables |
0.800 |
1.000 |
1.200 |
1.200 |
1.200 |
1.300 |
|
|
|
|
|
|
|
|
|
Power, Steam and Utilities |
160.900 |
194.000 |
228.300 |
248.400 |
253.400 |
274.600 |
|
|
|
|
|
|
|
|
|
Overhead Expense |
1.200 |
1.400 |
1.600 |
1.700 |
1.700 |
1.800 |
|
|
|
|
|
|
|
|
|
Spares and Stores |
0.400 |
0.400 |
0.500 |
0.500 |
0.500 |
0.600 |
|
|
|
|
|
|
|
|
|
Direct Labour |
16.600 |
17.800 |
19.100 |
20.400 |
21.800 |
23.300 |
|
|
|
|
|
|
|
|
|
Repairs and Maintenance |
2.600 |
2.600 |
2.600 |
2.600 |
2.600 |
2.600 |
|
|
|
|
|
|
|
|
|
Total Variable Cost |
330.000 |
391.200 |
454.000 |
489.000 |
495.400 |
531.800 |
|
|
|
|
|
|
|
|
|
Add: Opening Stock of WIP |
0.000 |
5.100 |
6.000 |
6.900 |
7.500 |
7.500 |
|
|
|
|
|
|
|
|
|
Less: Closing Stock of WIP |
5.100 |
6.000 |
6.900 |
7.500 |
7.500 |
8.100 |
|
|
|
|
|
|
|
|
|
Sub Total |
325.000 |
390.300 |
453.100 |
488.500 |
495.300 |
531.200 |
|
|
|
|
|
|
|
|
|
Add: Opening Stock of FG |
0.000 |
30.800 |
36.400 |
42.000 |
44.800 |
44.800 |
|
|
|
|
|
|
|
|
|
Less: Closing Stock of FG |
30.800 |
36.400 |
42.000 |
44.800 |
44.800 |
47.600 |
|
|
|
|
|
|
|
|
|
Cost of Production |
294.200 |
384.700 |
447.500 |
485.700 |
495.300 |
528.400 |
|
|
|
|
|
|
|
|
|
Gross Profit |
156.700 |
148.400 |
167.700 |
170.500 |
160.900 |
168.700 |
|
|
|
|
|
|
|
|
|
Gross Profit % |
34.76% |
27.83% |
27.26% |
25.98% |
24.51% |
24.20% |
|
|
|
|
|
|
|
|
|
Indirect Cost |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expense |
1.400 |
1.700 |
1.900 |
2.100 |
2.100 |
2.200 |
|
|
|
|
|
|
|
|
|
Transportation |
1.200 |
1.400 |
1.600 |
1.700 |
1.700 |
1.800 |
|
|
|
|
|
|
|
|
|
Selling and other expenses |
0.200 |
0.200 |
0.300 |
0.300 |
0.300 |
0.300 |
|
|
|
|
|
|
|
|
|
Administrative salaries |
15.200 |
16.300 |
17.400 |
18.700 |
20.000 |
21.400 |
|
|
|
|
|
|
|
|
|
Total selling and administrative exp. |
18.000 |
19.600 |
21.200 |
22.700 |
24.000 |
25.700 |
|
|
|
|
|
|
|
|
|
Prelim. Exp. Written |
1.900 |
1.900 |
1.900 |
1.900 |
1.900 |
0.000 |
|
|
|
|
|
|
|
|
|
Total Cost of Sales |
314.100 |
406.200 |
470.600 |
510.300 |
521.300 |
554.100 |
|
|
|
|
|
|
|
|
|
Net Profit |
136.800 |
126.900 |
144.500 |
145.800 |
134.900 |
143.100 |
|
|
|
|
|
|
|
|
|
PBDIT Ratio |
3034% |
23.80% |
23.49% |
22.22% |
20.56% |
20.52% |
|
|
|
|
|
|
|
|
|
Interest on term loan |
36.300 |
33.700 |
28.600 |
23.400 |
18.200 |
13.000 |
|
|
|
|
|
|
|
|
|
Interest on cash credit |
9.000 |
11.000 |
12.700 |
13.600 |
13.600 |
14.400 |
|
|
|
|
|
|
|
|
|
Total Bank Interest |
45.300 |
44.800 |
41.300 |
37.000 |
31.800 |
27.400 |
|
|
|
|
|
|
|
|
|
Profit Before Taxation and Depreciation |
91.500 |
82.100 |
103.200 |
108.800 |
103.100 |
115.700 |
|
|
|
|
|
|
|
|
|
Depreciation |
17.200 |
17.200 |
17.200 |
17.200 |
17.200 |
17.200 |
|
|
|
|
|
|
|
|
|
Profit Before Tax |
74.300 |
64.900 |
86.000 |
91.600 |
85.900 |
98.500 |
|
|
|
|
|
|
|
|
|
PBT to Net Sales |
16.47% |
12.17% |
13.98% |
13.96% |
13.09% |
14.12% |
|
|
|
|
|
|
|
|
|
Direct Taxes |
15.100 |
14.500 |
23.100 |
26.400 |
25.700 |
30.800 |
|
|
|
|
|
|
|
|
|
Deferred Taxes |
9.000 |
6.600 |
4.800 |
3.300 |
2.200 |
1.200 |
|
|
|
|
|
|
|
|
|
PAT |
50.200 |
43.800 |
58.100 |
61.900 |
58.000 |
66.500 |
|
|
|
|
|
|
|
|
|
PAT to Net Sales |
11.13% |
8.22% |
9.44% |
9.43% |
8.84% |
9.54% |
|
|
|
|
|
|
|
|
|
Less: Dividend |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Profit After Tax less Dividend |
50.200 |
43.800 |
58.100 |
61.900 |
58.000 |
66.500 |
|
|
|
|
|
|
|
|
|
Depreciation |
17.200 |
17.200 |
17.200 |
17.200 |
17.200 |
17.200 |
|
|
|
|
|
|
|
|
|
Prelim,. Exp. Written Off |
1.900 |
1.900 |
1.900 |
1.900 |
1.900 |
0.000 |
|
|
|
|
|
|
|
|
|
Cash Accruals |
69.300 |
63.000 |
77.200 |
81.000 |
77.200 |
83.700 |
|
|
|
|
|
|
|
|
|
Less: Term Loan Repayment |
0.000 |
37.100 |
37.100 |
37.100 |
37.100 |
37.100 |
|
|
|
|
|
|
|
|
|
Net Cash Accrual |
69.300 |
25.900 |
40.200 |
44.000 |
40.100 |
46.700 |
|
|
|
|
|
|
|
|
|
Cumulative Cash Accrual |
69.300 |
95.200 |
135.400 |
179.300 |
219.400 |
266.100 |
------------------------------------------------------------------------------------------------------------------------------
PROJECTED BALANCE SHEET
(RS.IN MILLION)
|
PARTICULAR |
FY 17 |
FY 18 |
FY 19 |
FY 20 |
FY 21 |
FY 22 |
|
|
|
|
|
|
|
|
|
Capital and
Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Paidup Share Capital |
133.700 |
133.700 |
133.700 |
133.700 |
133.700 |
133.700 |
|
|
|
|
|
|
|
|
|
Total Equity Raised |
133.700 |
133.700 |
133.700 |
133.700 |
133.700 |
133.700 |
|
|
|
|
|
|
|
|
|
Total Share Capital |
133.700 |
133.700 |
133.700 |
133.700 |
133.700 |
133.700 |
|
|
|
|
|
|
|
|
|
Reserves and
Surplus |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit and Loss Account |
50.200 |
94.000 |
152.100 |
214.000 |
272.000 |
338.500 |
|
|
|
|
|
|
|
|
|
Secured Loans |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Term Loan |
222.500 |
185.400 |
148.300 |
111.200 |
74.200 |
37.100 |
|
|
|
|
|
|
|
|
|
Deferred Tax |
9.000 |
15.600 |
20.300 |
23.700 |
25.900 |
27.000 |
|
|
|
|
|
|
|
|
|
Current Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank Borrowings for Working Capital |
59.800 |
73.500 |
84.900 |
90.700 |
90.700 |
96.000 |
|
|
|
|
|
|
|
|
|
Sundry Creditors |
55.000 |
61.600 |
71.400 |
76.400 |
77.000 |
82.900 |
|
|
|
|
|
|
|
|
|
TL Ins. Due within 1 Year |
37.100 |
37.100 |
37.100 |
37.100 |
37.100 |
37.100 |
|
|
|
|
|
|
|
|
|
Provisions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Provision for taxes |
15.100 |
14.500 |
23.100 |
26.400 |
25.700 |
30.800 |
|
|
|
|
|
|
|
|
|
Total |
582.400 |
615.400 |
671.000 |
713.200 |
736.200 |
783.000 |
|
|
|
|
|
|
|
|
|
Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fixed Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross Block |
349.500 |
349.500 |
349.500 |
349.500 |
349.500 |
349.500 |
|
|
|
|
|
|
|
|
|
Less: Depreciation |
17.200 |
34.400 |
51.700 |
68.900 |
86.100 |
103.300 |
|
|
|
|
|
|
|
|
|
Net Block |
332.300 |
315.000 |
297.800 |
280.600 |
263.400 |
246.100 |
|
|
|
|
|
|
|
|
|
Capital Work in Progress |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Deposits |
14.300 |
14.300 |
14.300 |
14.300 |
14.300 |
14.300 |
|
|
|
|
|
|
|
|
|
Current Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Inventory of Raw Material Stores and Spares |
34.800 |
41.500 |
48.300 |
51.900 |
52.400 |
56.200 |
|
|
|
|
|
|
|
|
|
W.I.P. and Finished Goods |
35.900 |
42.400 |
48.900 |
52.300 |
52.300 |
55.700 |
|
|
|
|
|
|
|
|
|
Sundry Debtors |
64.000 |
75.700 |
87.400 |
93.200 |
93.200 |
99.000 |
|
|
|
|
|
|
|
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Cash and Bank Balances |
93.400 |
120.700 |
170.500 |
219.100 |
260.700 |
311.800 |
|
|
|
|
|
|
|
|
|
Preliminary Expenses |
7.700 |
5.800 |
3.800 |
1.900 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Total |
582.400 |
615.400 |
671.000 |
713.200 |
736.200 |
783.000 |
------------------------------------------------------------------------------------------------------------------------------
PROJECTED FUND FLOW
STATEMENT
(RS.IN MILLION)
|
PARTICULAR |
FY 17 |
FY 18 |
FY 19 |
FY 20 |
FY 21 |
FY 22 |
|
|
|
|
|
|
|
|
|
Projected Cash Flow |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Profit After Tax |
50.200 |
43.800 |
58.100 |
61.900 |
58.000 |
66.500 |
|
|
|
|
|
|
|
|
|
Depreciation |
17.200 |
17.200 |
17.200 |
17.200 |
17.200 |
17.200 |
|
|
|
|
|
|
|
|
|
Deferred Tax |
9.000 |
6.600 |
4.800 |
3.300 |
2.200 |
1.200 |
|
|
|
|
|
|
|
|
|
Increase in Share Capital |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Increase in Term Loan |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Increase in Current Liabilities |
70.100 |
5.900 |
18.400 |
8.300 |
(0.100) |
11.000 |
|
|
|
|
|
|
|
|
|
Increase in Bank Finance w/off |
59.800 |
13.700 |
11.400 |
5.800 |
0.000 |
5.300 |
|
|
|
|
|
|
|
|
|
Preliminary Expenses w/off |
1.900 |
1.900 |
1.900 |
1.900 |
1.900 |
0.000 |
|
|
|
|
|
|
|
|
|
Total |
208.200 |
89.200 |
111.800 |
98.500 |
79.200 |
101.100 |
|
|
|
|
|
|
|
|
|
Increase in Fixed Assets |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Decrease in Term Loan |
0.000 |
37.100 |
37.100 |
37.100 |
37.100 |
37.100 |
|
|
|
|
|
|
|
|
|
Increase in Investment in associates |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Deposits |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Preliminary Expenses |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Inventory |
34.800 |
6.600 |
6.800 |
3.700 |
0.400 |
3.800 |
|
|
|
|
|
|
|
|
|
W.I.P. and Finished Goods |
35.900 |
6.500 |
6.500 |
3.300 |
0.100 |
3.300 |
|
|
|
|
|
|
|
|
|
Sundry Debtors |
64.000 |
11.700 |
11.700 |
5.800 |
0.000 |
5.800 |
|
|
|
|
|
|
|
|
|
Others |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Total |
134.800 |
61.900 |
62.100 |
49.900 |
37.600 |
50.000 |
|
|
|
|
|
|
|
|
|
Opening Balance |
19.900 |
93.400 |
120.700 |
170.500 |
219.100 |
260.700 |
|
|
|
|
|
|
|
|
|
Surplus/ Deficit |
73.500 |
27.300 |
49.800 |
48.600 |
41.600 |
51.100 |
|
|
|
|
|
|
|
|
|
Closing Balance |
93.400 |
120.700 |
170.500 |
219.100 |
260.700 |
311.800 |
|
|
|
|
|
|
|
|
|
Item of B/ Sheet |
45.300 |
44.800 |
41.300 |
37.000 |
31.800 |
27.400 |
|
|
|
|
|
|
|
|
|
Difference |
48.100 |
75.900 |
129.200 |
182.100 |
228.900 |
284.500 |
------------------------------------------------------------------------------------------------------------------------------
PROJECTED WORKING CAPITAL
COMPUTATION
(RS.IN MILLION)
|
PARTICULAR |
FY 17 |
FY 18 |
FY 19 |
FY 20 |
FY 21 |
FY 22 |
|
|
|
|
|
|
|
|
|
Sundry Debtors |
64.000 |
75.700 |
87.400 |
93.200 |
93.200 |
99.000 |
|
|
|
|
|
|
|
|
|
Stock of Raw Materials |
20.100 |
23.700 |
27.400 |
29.200 |
29.200 |
31.000 |
|
|
|
|
|
|
|
|
|
Stock of Stores, Spares, Consumables and Power |
14.700 |
17.800 |
20.900 |
22.700 |
23.200 |
25.100 |
|
|
|
|
|
|
|
|
|
Stock of WIP |
5.100 |
6.000 |
6.900 |
7.500 |
7.500 |
8.100 |
|
|
|
|
|
|
|
|
|
Stock of FG |
30.800 |
36.400 |
42.000 |
44.800 |
44.800 |
47.600 |
|
|
|
|
|
|
|
|
|
Total Current Assets |
134.800 |
159.600 |
184.600 |
197.400 |
197.900 |
210.800 |
|
|
|
|
|
|
|
|
|
Creditors for RM |
30.600 |
32.500 |
37.400 |
39.500 |
39.200 |
41.900 |
|
|
|
|
|
|
|
|
|
Creditors for Expenses |
24.400 |
29.100 |
34.000 |
37.000 |
37.800 |
41.000 |
|
|
|
|
|
|
|
|
|
Total Current Liabilities |
55.000 |
61.600 |
71.400 |
76.400 |
77.000 |
82.900 |
|
|
|
|
|
|
|
|
|
Working Capital Gap |
79.700 |
98.000 |
113.200 |
121.000 |
120.900 |
127.900 |
|
|
|
|
|
|
|
|
|
Margin |
19.900 |
24.500 |
28.300 |
30.200 |
30.200 |
32.000 |
|
|
|
|
|
|
|
|
|
Cash Credit Loan |
59.800 |
73.500 |
84.900 |
90.700 |
90.700 |
96.000 |
|
|
|
|
|
|
|
|
|
Interest on CC Loan |
9.000 |
11.000 |
12.700 |
13.600 |
13.600 |
14.400 |
------------------------------------------------------------------------------------------------------------------------------
PROJECTED BREAKEVEN
ANALYSIS
(RS.IN MILLION)
|
PARTICULAR |
FY 17 |
FY 18 |
FY 19 |
FY 20 |
FY 21 |
FY 22 |
|
|
|
|
|
|
|
|
|
Net Sales |
450.900 |
533.100 |
615.100 |
656.200 |
656.200 |
697.200 |
|
|
|
|
|
|
|
|
|
Total Sales |
450.900 |
533.100 |
615.100 |
656.200 |
656.200 |
697.200 |
|
|
|
|
|
|
|
|
|
Direct Costs Variable Cost |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Raw Material Consumed |
147.400 |
174.000 |
200.800 |
214.100 |
214.100 |
227.500 |
|
|
|
|
|
|
|
|
|
Consumables Consumed |
0.800 |
1.000 |
1.200 |
1.200 |
1.200 |
1.300 |
|
|
|
|
|
|
|
|
|
Power and Fuel |
160.900 |
194.000 |
228.300 |
248.400 |
253.400 |
274.600 |
|
|
|
|
|
|
|
|
|
Repairs and Maintenance Cost |
2.600 |
2.600 |
2.600 |
2.600 |
2.600 |
2.600 |
|
|
|
|
|
|
|
|
|
Direct Labour |
16.600 |
17.800 |
19.100 |
20.400 |
21.800 |
23.300 |
|
|
|
|
|
|
|
|
|
Transportation Cost |
1.200 |
1.400 |
1.600 |
1.700 |
1.700 |
1.800 |
|
|
|
|
|
|
|
|
|
Misc. Factory Expenses |
1.200 |
1.400 |
1.600 |
1.700 |
1.700 |
1.800 |
|
|
|
|
|
|
|
|
|
Interest on Working Capital Term Loan |
9.000 |
11.000 |
12.700 |
13.600 |
13.600 |
14.400 |
|
|
|
|
|
|
|
|
|
Cost of Production |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Add: Opening Stock of FG and WIP |
0.000 |
35.900 |
42.400 |
48.900 |
52.300 |
52.300 |
|
|
|
|
|
|
|
|
|
Less: Closing Stock of FG and WIP |
35.900 |
42.400 |
48.900 |
52.300 |
52.300 |
55.700 |
|
|
|
|
|
|
|
|
|
Cost of Goods Sold |
303.900 |
396.700 |
461.300 |
500.500 |
510.100 |
544.100 |
|
|
|
|
|
|
|
|
|
Total Variable Cost |
303.900 |
396.700 |
461.300 |
500.500 |
510.100 |
544.100 |
|
|
|
|
|
|
|
|
|
Contribution |
147.000 |
136.400 |
153.800 |
155.700 |
146.100 |
153.100 |
|
|
|
|
|
|
|
|
|
Fixed/
Semi-Variable Expenses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation |
17.200 |
17.200 |
17.200 |
17.200 |
17.200 |
17.200 |
|
|
|
|
|
|
|
|
|
Fixed Costs |
16.800 |
18.200 |
19.600 |
21.000 |
22.300 |
23.900 |
|
|
|
|
|
|
|
|
|
Interest on Term Loans |
36.300 |
33.700 |
28.600 |
23.400 |
18.200 |
13.000 |
|
|
|
|
|
|
|
|
|
Sub Total |
70.400 |
69.200 |
65.400 |
61.600 |
57.700 |
54.100 |
|
|
|
|
|
|
|
|
|
Break Even Point @ Ope. Cap. |
48% |
51% |
43% |
40% |
40% |
35% |
|
|
|
|
|
|
|
|
|
Break Even Point @ Ins. Cap. |
26.35% |
32.96% |
31.89% |
31.65% |
31.60% |
30.01% |
|
|
|
|
|
|
|
|
|
BE Sales (Ope. Cap) |
216.000 |
270.300 |
261.600 |
259.600 |
259.200 |
246.200 |
|
|
|
|
|
|
|
|
|
Cash BEP (%) |
20% |
25% |
23% |
23% |
22% |
20% |
|
|
|
|
|
|
|
|
|
Cash Break Even Sales |
163.200 |
203.000 |
192.700 |
187.000 |
181.800 |
167.700 |
------------------------------------------------------------------------------------------------------------------------------
NETWORTH STATEMENT
MR. MADDALA VEERA SRINIVASA RAO
(RS. IN MILLIONS)
|
SR. NO. |
PARTICULARS |
AMOUNT
|
|
|
|
|
|
A |
IMMOVABLE
PROPERTY |
|
|
1. |
Flat No. 202, Jhansi Residency, Nizampet Road, Hyderabad |
7.000 |
|
|
|
|
|
B |
MOVABLE PROPERTY |
|
|
1. |
Jewellary and Ornaments |
2.500 |
|
2. |
Investment is shares of Max Broadnet Services Private Limited |
0.300 |
|
3. |
Investment in other Companies Shares |
0.500 |
|
4. |
Insurance Policies |
1.500 |
|
5. |
Cash and Bank Balances |
0.600 |
|
|
Total |
12.400 |
|
|
|
|
|
|
Less Liabilities |
0.000 |
|
|
|
|
|
|
NET WORTH |
12.400 |
------------------------------------------------------------------------------------------------------------------------------
NETWORTH STATEMENT
MR. GOKAPAI MADHU KUMAR
(RS. IN MILLIONS)
|
SR. NO. |
PARTICULARS |
AMOUNT
|
|
|
|
|
|
A. |
Immovable
Property (Market Price) |
|
|
1. |
Plot No. 213, Sector 21A, Faridabad |
31.000 |
|
2. |
Flat No. B 74 F5, Vijay Nagar Colony, Hyderabad |
3.000 |
|
3. |
Plot in Vanasthali Estates, Hyderabad |
15.500 |
|
4. |
Plot in Auto Nagar, Hyderabad |
1.500 |
|
|
|
|
|
B. |
Movable Property
(Market Price) |
|
|
1. |
Jewellary and Ornaments |
1.500 |
|
2. |
Investment in shares of Max Broadnet Services Private Limited and Raghni Ferro Alloys Private Limited |
17.600 |
|
3. |
LIC Surrendered Value |
1.000 |
|
4. |
Cash and Bank Balances |
0.500 |
|
|
Total
|
71.600 |
|
|
|
|
|
|
Less:
Liabilities |
|
|
|
|
|
|
1. |
Loan from Nikunj Chem Private Limited |
4.000 |
|
|
|
|
|
|
NET WORTH |
67.600 |
------------------------------------------------------------------------------------------------------------------------------
PROJECT REPORT
INTRODUCTION
Ferroalloys are produced by adding chemical elements into molten metal usually during steelmaking. The ferroalloys contain significant amounts of iron and usually have a lower melting range than the pure metals and are therefore dissolved by the molten steel more readily than the pure metal. ln other cases, the other elements in the ferroalloy serve to protect the critical element against oxidation during solution and thereby give higher recoveries. Ferroalloys are used both as deoxidizers and as a specified addition to give particular properties to the steel.
Subject proposes to establish 3x9 MVA Submerged Electric Arc Furnace in two phases for the manufacture of Ferro Alloys. lt is proposed to establish 1x9MVA furnace under phase-l. with a maximum capacity of 1g500 TpA, 2x9 MVA furnaces under phase-2 with a maximum capacity of 37000 TPA and the total capacity of 55500 TpA, The proposed project site is located at Survey No. 71 and 72 part of Agaram Village, Nagari Mandal, Chittoor District, Andhra Pradesh. Total land acquired forthe proposed project is Ac 10.55. The total cost estimated for the project is Rs. 410.000 Millions.
The Ministry of Environment and Forest (MOEandF), Government of lndia issued a notification vide S.o. 1533 dt. 14/9/2006 prescribes prior environmental clearance for various development projects. Manufacturing of Ferro alloys like Ferro Silicon, Silico Manganese and Ferro Manganese is considered as primary metallurgical activity and the same needs to obtain prior environmental clearance.
Subject is conscious of its responsibility towards the society in minimizing the pollution load due to the proposed project and accordingly decided to carry out the Environmental lmpact Assessment to identify the negative and positive impacts and to delineate effective measures to control the pollution and to mitigate the environmental pollution. Subject has appointed Team Labs and Consultants for the preparation of Environmental Impact Assessment report. The executive summary of the environmental impact assessment report is presented below:
Location of the
Project
The proposed project site is located at Survey Nos.71 and 72 part of Agaram Village, Nagari Mandal, Chittoor District, Andhra Pradesh. Total land acquired for the project is 10.55 Acres. The longitude and latitude of the site is 79o 38' 15'E and 13o 20' 07"N respectively with an elevation of L00m. The site area is surrounded by open lands in all directions. The nearest village is Agaram located at a distance of 0.8 km from the proposed plant in SE direction. Nagari railway station is at a distance of 6.6 km in SW direction. Renigunta to Tiruttani road is passing through Nagari town which is at a distance of 5.G km from the site. Road access into site is Nagari to Gollkandriga RandB road adjacent to site in north direction. Andhra Pradesh and Tamilnadu state boundary is at a distance of 4.7 km in southeast direction. Nagari seasonal nallah is at a distance of 2km in south direction, Nagari Reserve forest is at a distance of 3.0 km in North direction. There are no ecologically sensitive areas like reserve forests, national parks, wild life sanctuaries within 10 km radius of the site.
Production Capacity
The product profile and the production capacity proposed are presented in table E-1. Submerged Electric Arc Furnace shall be used for the manufacture of any one of the three alloys. lt may be noted that the annual production capacity mentioned for individual alloys is the maximum capacity possible on campaign basis.
Manufacturing
Capacity
|
Sr. No. |
Description |
Capacity (TPA) |
||
|
|
|
Phase – I |
Phase – II |
Total |
|
1 |
Ferro Silicon (Fe Si) |
6333 |
12666 |
18999 |
|
|
|
|
|
|
|
2 |
Silico Manganese (Si Mn) * |
14250 |
28500 |
42750 |
|
|
|
|
|
|
|
3 |
Ferro
Manganese (Fe Mn) * |
L8500 |
37000 |
55500 |
* lt is proposed to manufacture the above alloys on campaign basis.
Process Description
Manufacturing of
Ferroalloys
Ferroalloys namely Ferro Silicon, Ferro Manganese and Silico Manganese are produced in Submerged Electric Arc Furnace. Ferro chrome is not proposed for production in this plant. All these products could be produced in the same furnace with minor modifications. The ferroalloys are used in the manufacture of steel but the grade and quantities vary depending upon the type of steel.
During the initial period of melting, the applied power is kept low to prevent damage to the furnace walls and the roof from radiation, while allowing the electrodes to bore into the mixture of raw materials. As soon as the arcs have become shielded by the surrounding raw material mixturb, the power is increased to complete melting. As the charge enters the smelting zone, the alloy formed by chemical reactions of the oxides and the reductants,
being heavy, gradually settles at the bottom. At regular intervals the furnace is tapped. The tap-hole is opened by oxygen lancing pipe and after tapping is completed, it is closed by clay plugs. The liquid Ferroalloy is collected and cast in dressed beds. After solidification the cakes are broken manually to required lump size.
Utilities
The utilities required for the proposed production capacity are presented in table
TABLE: LIST OF UTILITIES
|
S. No. |
Description |
Capacity |
|
|
|
|
|
1 |
Cooling Tower |
50 TR |
|
|
|
|
|
2 |
DG Set |
500 KVA |
Water Requirement
Ferroalloy manufacturing is energy intensive process wherein a considerable quantity of cooling water is required for control of metallurgical process. Water is mainly needed for cooling various furnace components and furnace transformer oil, drinking and other uses. The total water requirement for the proposed project is 70.0 KLD for two phases which shall be drawn from ground water through bore well located within the plant premises. The water balance of the plant is presented in table
Table: Total Water Balance
|
S. No. |
Input |
Qty (KLD) |
Outpur |
Qty (KLD) |
|
|
|
|
|
|
|
1. |
Cooling Tower |
60 |
Cooling tower blow down |
10 |
|
Losses |
50 |
|||
|
2. |
Domestic |
10 |
Domestic Effluent |
8 |
|
Losses |
2 |
|||
|
|
Total |
70 |
Total |
70 |
Baseline
Environmental Status
The baseline data for ambient air quality, surface and ground water quality, noise, and soil quality was collected to know the existing quality and analyzed for various parameters and flora and fau na of the study was conducted d u ring period of February 10th - May 10th, 2012. The air quality monitoring results show that the values are within the prescribed limits for National Ambient Air Quality standards prescribed by Ministry of Environment and Forests
on November 16, 2009. The surface water quality analysis results show that the values are within the limits for few parameters to 15:2296-1982 Norms and ground water quality analysis results show that the values are above the limits for few parameters to lndian Standard Drinking Water Specification of lS: 10500-1991. Noise quality parameters in the study area are within the limits of Ambient Noise Standards prescribed by Central Pollution Control Board (CPCB) in 1.989. The details of flora and fauna present in the study area were described elaborately in the EIA Report.
Identification and
Quantification of impacts
The major contribution of pollution in the proposed plant is air emissions from the furnace apart from cooling tower blow downs and solid wastes from process. The water pollution is due to the effluent generated from cooling tower blow downs and domestic effluents. The impact assessment report identified various sources of pollution and quantified the pollution loads and has identified the technologies to be adopted for the mitigation and control of the same.
Impact on Air Quality: The impacts on air quality due to the proposed project are from the Submerged Electric Arc Furnaces (3x9 MVA's) and the standby DG set of 500 KVA capacity, apart from fugitive emissions during transfer of raw materials and end products. The impacts are quantified using ISC-AERMOD based on ISCST3 algorithms of USEPA. The results indicate marginal increase in the ambient air quality parameters. The cumulative concentrations of predicted values and baseline data are within the prescribed limits of CPCB.
Impact on Water Quality: The required water shall be drawn from ground water sources using bore well. The effluents generated from the utilities contain suspended solids which may cause ground water pollution if they are untreated and disposed. The effluent generated from the cooling tower shall be treated and reused for slag cooling and on land irrigation. Domestic effluents shall be sent to septic tank followed by soak pit.
Impact on Noise Quality: The noise levels may increase due to the motors and DG set. Personal Protective Equipments like earmuffs etc will be provided to the employees and green belt will be developed to reduce the noise levels. DG set shall be provided with acoustic enclosure. Hence, there will not be any adverse impact on noise environment due to the proposed project activity.
Impact on Soil: The effluents and solid wastes generated in the process and from utilities may have significant negative impacts if untreated and disposed indiscriminately, There is no discharge of process effluent and solid waste to land directly. Hence, there will not be any adverse impact on land environment due to the proposed project activity.
lmpact on Ecology:
There are no endangered flora and fauna in the impact area. Hence there are no
significant impacts.
lmpact on Socio Economy: Employment generation and socio economic development of the back ward area is the major benefit of this project. The area which has low industrial density and medium agriculture activity will have positive benefits due to this project.
Environment
Management Plan
The management plan is drawn in consultation with the project proponents, technical consultants after evaluating a number of technologies available for mitigation and control of pollution. The environment management plan is drawn to address the impacts monitored, identified and predicted.
Construction Stage
As the unit is located near the bitumen road the potential of pollution during the construction phase will be less when compared to the operational stage, During the dry season it is necessary to control uplift of dust during the excavation, leveling and transportation by spraying water in the paths, and along the temporary roads. The clearing of plants, shrubs and trees will be kept to the minimum so as to leave sufficient space for erection of mechanical units and for few civil constructions. The facilities like toilets, drinking water and proper shelter for the persons staying in the construction site will be provided with utmost importance. The toilets will be attached to septic tank so as to minimize the percolation and to control the subsequent impact on the environment. The construction activity may involve noise due to usage of concrete mixers and mechanical vibrators. Therefore it is advisable to provide earmuffs to the site workers. From the movement of heavy vehicles for earth moving and to move the equipment like dozers and cranes, etc. The vehicles will be maintained properly so as to minimize the emissions from exhaust. However the impact on the nearby settlement would be negligible. The hazardous wastes of waste oil and used batteries will be sold to authorized recyclers. The construction wastes shall be used for leveling purpose,
Operation Stage
Liquid Efftuents
The effluents generated from the proposed plant arise from cooling tower blow downs and domestic sources. These blow downs of 10 KLD will be collected in a sump in the ETP, where the suspended solids will be separated by sedimentation. The treated water shall be reused for dust suppression, furnace ash quenching, in addition to on land irrigation for development of green belt. Domestic effluent of 8 KLD shall be sent to septic tank followed by soak pit. Rainwater harvesting structures have been proposed to recharge the ground water.
Air Pollution
The air pollution caused due to the Submerged Electric Arc Furnace shall be mitigated by provision of bag filters designed for an outlet concentration of 50 mg/Nm3 before letting out into atmosphere. The gases from the bag filter are passed through tall stacks as prescribed by CPCB. The DG set is provided with chimney of sufficient height as prescribed by CPCB. The fugitive emissions from transfer points, raw material handling etc shall be mitigated by fume extraction system such as canopy hooding connected to bag filter and by water sprinkling system. The roads within the plant shall be asphalted, while the storage yards shall adopt closed, layer by layer stacking method to mitigate fugitive emissions.
Solid Waste
The slag generated from the production of Ferro Manganese will be used as raw material for Silico Manganese. The slag generated from Silico Manganese and Ferro Silicon will be used as construction material, base layer for roads lying. These solid wastes shall be stored in a closed shed constructed on an elevated platform. Slag generated from the furnaces shall be subjected to TCLP test to qualify that is non hazardous before disposal. The solid wastes generated and disposal facilities are presented in table
Table: Solid Wastes Generated and Disposable Facilities
|
Description |
Quantity |
Remarks |
||
|
Phase-l |
Phase-ll |
Total |
|
|
|
|
|
|
|
|
|
*Slag from Fe Si - TPD |
0.58 |
1.16 |
1.74 |
Used as construction
material |
|
|
|
|
|
|
|
*Slag from Si Mn - TPD |
38.88 |
77.76 |
116.64 |
Used as construction
material |
|
|
|
|
|
|
|
*Slag from Fe Mn -TPD |
44.84 |
89.68 |
134.52 |
Used as raw material for Si Mn |
|
|
|
|
|
|
|
Bag filter dust and solids from settling tank |
28 Kg/ day |
56 Kg/day |
84 Kg/day |
sold to brick manufacturers |
|
|
|
|
|
|
|
Waste Oil |
200 I/yr |
400 I/yr |
600 I/yr |
Sent to Authorized Recyclers |
|
|
|
|
|
|
|
Used Batteries |
2 No/yr |
4 No/yr |
6 no/yr |
Sent to Authorized Recyclers |
Noise Pollution
Noise is anticipated from material transfer, furnace and DG set. The DG set shall be kept in a separate enclosed room with acoustic enclosure. The motors shall be provided with guards and shall be mounted adequately to ensure the reduction of noise and vibration. The material transfer points shall be provided with rubber padding to mitigate noise levels. Employees working in noise generating areas shall be provided with earmuffs. The employees shall be trained in the mitigation measures and personal protection measures to be taken to avoid noise related health impacts.
Occupational Safety
and Health
The ferroalloy manufacturing involves handling and processing of ores of iron and manganese, and other raw materials. The ore handling and processing may generate. fumes and dust, which will pose hazards in the work room to the employees. The mitigation measures are mainly engineering controls, work room conditions, personal protective equipment and training and education. Workers working in areas like raw material handling yard and product house that generates fugitive dust shall wear nose masks/dust filters. Personal protective equipment viz. hand gloves, safety goggles, nose masks, and safety helmets are provided to all the employees working in the plant. Company has a policy of providing protective equipment for all personnel including contract and casual workers. In order to safe guard the health of the employees, all the employees shall undergo periodic health checkup. All the employees will be trained and educated periodically about occupational safety. lt is proposed to provide a dispensary with an occupational health expert and other staff.
Transport Systems
All the raw materials and finished products are mainly transported by trucks. About 20 truck trips are expected due to the project. Transporting raw materials from the mines to plant are covered with tarpaulin so as to reduce emissions to the surrounding environment. Sufficient parking facilities are provided for vehicles loading and unloading of goods. As the plant is located near approach road there will not be any unauthorized shop or settlements along the road connecting the plant site. Road safety signage shall be provided within and outside the plant area.
Green Belt
Development
Green belt is recommended as one of the major components of Environment Management Plan. The proposed industry proposes to develop green belt to enhance environmental quality through mitigation of fugitive emissions, attenuation of noise levels, balancing ecofriendly environment, consumption of treated effluent, prevention of soil erosion, and creation of aesthetic environment. The greenbelt shall be developed in an area of 3.62 acres, based on the CPCB guidelines for greenbelt development, The greenbelt shall be developed simultaneously with the plant construction.
Post Project
Monitoring - in plant
Environmental monitoring for water, air, noise and solid waste quality shall be conducted monthly either by the proponent or a third party. The frequency of monitoring and the quality parameters shall be as mentioned in the environmental monitoring chapter and as suggested by the Ministry of Environment and Forests, Government of lndia.
Environment
Management Cell
The industry shall have an environmental Environment, Health and Safety - Engineer, Management wing which is supervised by the followed by supervisors, operators and workers.
SWOT ANALYSIS
|
Details of SWOT ANALYSIS |
|
|
Strength |
Weakness |
|
|
|
|
· The company has already started collecting market data on raw materials and potential buyers for their project. · The factory is in the vicinity of National and State Highways. There is good accessibility and connectivity to different parts of the state. · Main promoters has past experience in sourcing raw material for Ferro alloy products |
· The availability of raw material in bulk with presence of Ferro Alloys units in the Country. · Also, the Company should enter into agreement with MOIL Limited for raw material. · Land Conversion is yet to done by the Company. |
|
|
|
|
Opportunity |
Threat |
|
|
|
|
The demand for steel product is universal The experience of one the promoters in the sector should
be fully utilized |
· Any delay in procurement and approvals will impact the schedule · Power requirement should be planned appropriately |
PROJECT OVERVIEW
The Company proposes to manufacture silico manganese (SiMn), at Desuri Agaram Village, Nagri Mandal, Chittoor District, Andhra Pradesh. Currently, the Company has 10.82 acres in its possession for the purpose of establishing the unit. The primary raw material used in the production of the product is going to be manganese and planned to be procured from MOIL.
Capacity
SiMn produced in a semi-open submerged arc furnace with a capacity of 10 MVA.
Silico Manganese (SiMn) is a variety of Ferro alloy that is proposed to be manufactured in a semi-open submerged arc furnace with a capacity of 10 MVA.
The proposed SAF
facility plant is planned to produce about 46.5 tons
of SiMn per day.
RFAPL plant is coming on 10.82 acres of land near Nagari situated
in the state of Andhra Pradesh and the project is being executed by Rally Tech Services Private Limited, Visakhapatnam on Turnkey basis.
This project is
proposed to be implemented in Twelve months (12) period as per the plan of the
Company.
The project site was
inspected on 10/12/12 and the land is barren as per current status.
COMPANY BACKGROUND
Subject was incorporated on 07.10.2008 with CIN: U51109DL2008PTC184009 under the provisions of the Companies Act, 1956 for setting up a 10 Mva ferro alloy plant in the State of Andhra Pradesh.
Subject is a private limited company having its registered office at 8/28, WEA, Abdul Aziz Road, Karol Bagh, New Delhi – 110005, and it proposes to sep up a 10MVA ferro alloy manufacturing plant at Desuri Agaram Village, Nagri Mandal, Chittoor District, Andhra Pradesh.
PROJECT DETAILS
Subject proposes to set up a 10MVA Ferro alloy manufacturing plant at Desuri Agaram Village, Near Nagari, Nagri Mandal, Chittoor District - 517590, Andhra Pradesh, India
Silicon Manganese (SiMn) is a variety of Ferro alloy that is proposed to be manufactured in a semi-open submerged arc furnace with a capacity of 10 MVA.
Subject plant is coming up on 10.82 acres of land near Nagari situated in the state of Andhra Pradesh and the project is being executed by Rally Tech Services Private Limited, Visakhapatname on Turnkey basis.
This project is proposed to be implemented in Twelve month (12) period as per the plan of the Company
The Project site was inspected on 10/12/12 and the land is barren as per current status.
As per the order received for consent for establishment (dated 14.03.2014) from APPCB the Company will be manufacturing following products:
· Silico Manganese
· Ferro Silicon
·
Ferro Manganese
PRODUCT PROFILE
Ferro alloy is the collective term used to define various alloys of iron with compounds including manganese, silicon, chromium, nickel, aluminum etc. Ferro manganese, Ferro nickel, ferro chromium and silico manganese are few of the major Ferro alloys. Ferro alloy is a vital input in steel manufacturing, where it is used to increase resistance to corrosion, improve hardness and tensile strength and improve wear and abrasion resistance of steel.
Ferro alloy is classified into two: Bulk Ferro alloys and Noble Ferro alloys
. Bulk Ferro alloys: These consist of principal alloys Ferro-manganese, Silico manganese, Ferro-chrome
. Noble Ferro alloys: These refer to alloys used in small quantities, used in production of steel as deoxidant and alloying agents. They include Ferro-vanadium, Ferro-titanium, ferrro-nickel, Ferro-molybdenum, Ferro-tungsten and Ferro-niobium.
Ferro-manganese and Ferro-silicon are used to prepare alloy steel while Ferro-chrome and charge chrome are used in preparing stainless steel.
Ferro alloy manufacturing units are spread across the country, but there is a high concentration of units in the states of Andhra Pradesh, Maharashtra, West Bengal, Chhattisgarh, and Orissa primarily because of the proximity to the raw materials. These five states together accounts for -70% of total units present in the country.
Total installed capacity of ferro-alloys in lndia is estimated at -5.15 million tonnes at the end of FY 2013. Raw material availability the being key success factor for the ferro alloy production, its production is concentrated in lndia, South Africa, China and the CIS countries where lndia account for about 10% of the globalferro alloy production. Bulk ferro-alloys and noble ferro-alloys are estimated to account for 99% and 1o/o respectively of total installed capacity in the count. lndia's Ferro Alloy supply comprises of Ferro chrome about 32Yo, Ferro Manganese and Silicon Manganese about 62% and rest others.
------------------------------------------------------------------------------------------------------------------------------
VALUATION
REPORT
|
GENERAL
DETAILS |
|||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
DESCRIPTION OF THE
PROPERTY |
|
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Purpose for which this valuation is made |
Fair Market Value (Bank Purpose) |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Name of the owner and his/ her address |
Max Broadnet
Services Private Limited Plot No. 114, Udyog Vihar-VI, Gurgaon, Haryana, India |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Location of the property |
Plot No. 114, Udyog Vihar-VI, Gurgaon, Haryana, India |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Boundaries of property |
Rectangular |
||||||||||||||||||||||||||||
|
North |
Plot No. 115 A |
||||||||||||||||||||||||||||
|
South |
Plot No. 113 |
||||||||||||||||||||||||||||
|
East |
Road |
||||||||||||||||||||||||||||
|
West |
Other Property |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Total extent of the site |
App. 521.50 Sq. M. or app. 623.70 Sq. Yd. |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Postal address of the property |
Plot No. 114, Udyog Vihar-VI, Gurgaon, Haryana, India |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Class of construction |
Good |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Proximity of civic amenities |
Nearby |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
E.B. Service connection detail |
Available |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Property Tax paid details |
Owner to provide |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Legal Encumbrances, if any (Searches and investigation made, if any) |
Legal Counsel to advise |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Characteristics of the locality |
Industrial |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Whether the property falls under “Land Ceiling Act” provision |
Legal Counsel to advise |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Tenure of land: Freehold/ Leasehold |
Freehold |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
If leasehold, state unexpired period of lease |
NA |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Occupancy details, self-occupation or rental |
Vacant |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
If rented, whether standard rent has been fixed under Rent Control Act and if so, full details |
NA |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Whether the property can be taken possession of by the “Bank in case of need, without any litigation |
Legal Counsel to advise |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Any other details, which affects our charge on the property as security |
Legal Counsel to advise |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Whether the property can be taken possession of by the Bank in case of need, without any litigation |
Legal Counsel to advise |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
I. VACANT RESIDENTIAL
PLOT/ COMMERCIAL SITE/ LAND |
|
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Name of the owner |
Max Broadnet Services Private Limited |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Present address |
Plot No. 114, Udyog Vihar-VI, Gurgaon, Haryana, India |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Document referred |
Copy of Transfer letter ref No. HSIDC: UV: 2004-2329, dated 07.07.2004 Copy of Conveyance deed: dt. 07.07.2004 |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Location of Site (Sketch/ Plan enclosed) |
Owner to Furnish |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Plot No./ Nagar/ Layout |
Plot No. 114, Udyog Vihar-VI, Gurgaon |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
S.F. No. / T.S. No. |
-- |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Village/ Block |
-- |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
District/ Municipality |
-- |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Site Dimensions : |
|
||||||||||||||||||||||||||||
|
North : |
App. 35 M |
||||||||||||||||||||||||||||
|
South : |
App. 35 M |
||||||||||||||||||||||||||||
|
East : |
App. 14.9 M |
||||||||||||||||||||||||||||
|
West : |
App. 14.9 M |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Total extent of site |
App. 521.5 Sq.m or app. 623.70 Sq. yd. |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Valuation |
|
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Fair market value @ Rs. 40000/ sq. yd. |
Rs. 24.948 Millions |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Open market value |
Rs. 26.195 Millions |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Forced/ Distress sale value |
Rs. 19.958 Millions |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Comparable sale value |
Rs. 26.195 Millions |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
II. BUILDING |
|
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Plinth Area Details
|
|||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
General Information |
|
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Type of Construction |
Load Bearing Walls |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Quality of Construction |
Good |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Appearance of the Building |
Good |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
No. of Floors |
Three Storied |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Maintenance of the building |
Good |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Water supply arrangement |
Local Authority |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Drainage arrangement |
Public Sewer |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Whether the building is constructed as per plan approved by the competent authority |
Sanctioned Plans not provided |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Tenancy details, occupancy |
Vacant |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Rent yield per month |
NA |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Valuation G.F.
Construction |
|
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Specification |
|
||||||||||||||||||||||||||||
|
Foundation |
Spread Footing |
||||||||||||||||||||||||||||
|
Superstructure |
Brick work in cement mortar with RCC Columns and beams |
||||||||||||||||||||||||||||
|
Roof |
RCC |
||||||||||||||||||||||||||||
|
Joinery |
Paneled/ Glazed |
||||||||||||||||||||||||||||
|
Floor Finish |
Tiles |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Total plinth area |
App. 2100.00 sq. ft. |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Year of construction |
2006 |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Age of the building |
App. 4 years |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Total life of the building estimated |
60 Year |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Description percentage assumed (assumed salvage value @ 1% per 4 year) |
4% |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Replacement rate of construction with the existing conditions and specifications |
2100.00 sq.ft. @ 1500.00/ sq. ft. |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Replacement value |
Rs. 3.150 Millions |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Depreciation value at the rate of 4% |
Rs. 0.126 Million |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Estimated present value of G. Floor |
Rs. 3.024 Millions |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Valuation of FF and
SF Construction |
|
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Specification |
|
||||||||||||||||||||||||||||
|
Floor Finish |
Tiles |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Superstructure |
Brick work in cement mortar with RCC col. and beams |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Roof |
RCC |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Joinery |
Paneled/ Glazed |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Weathering course |
Waterproof Paint |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Total plinth area |
FF: 2100 sq. ft. and SF; app. 800 sq. ft. (Total Built up: 2900 sq. ft.) |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Year of construction |
2006 |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Age of the building |
App. 4 Years |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Total life estimated |
App. 60 Years |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Depreciation percentage assumed @ 1% for 4 yrs. |
4% |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Replacement rate of construction with the existing condition and specification |
2900.00 sq. ft. @ 1500.00 |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Replacement value |
Rs. 4.350 Millions |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Depreciation value @ 4% only |
Rs. 0.174 Million |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Estimated value after depreciation |
Rs. 4.176 Millions |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Replacement,
Depreciation and Net Value
|
|||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
III. MISCELLANEOUS
(VALUE AFTER DEPRECIATION) |
|
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Swimming Pool |
-- |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Guard/ Genset/ Electric panel room |
-- |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Separate Water Tank/ Sump/ Septic Tanks |
-- |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
External development 3500 sq. ft. @ 150/ sq. ft. |
Rs. 0.525 Million |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Total |
Rs. 0.525 Million |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
IV. SERVICES |
|
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Water supply arrangements incl. fittings |
Taken |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Drainage arrangements |
Taken |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Compound wall |
Taken |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
E.B. Deposits, Fittings, etc. |
Taken |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Pavement |
Taken |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Steel gate |
Taken |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Abstract Valuation
(Fair Market Value) |
|
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Plot (Part-I) |
Rs. 24.948 Millions |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Building (Part-II) |
Rs. 7.200 Millions |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Miscellaneous (Value after Depreciation) (Part-III) |
Rs. 0.525 Million |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Services (Part-IV) |
-- |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Total |
Rs. 32.673 Millions |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Say |
Rs. 32.700 Millions |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Open market price |
Rs. 34.300 Millions |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Forced sale value |
Rs. 27.800 Millions |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Comparable sale value |
Rs. 34.300 Millions |
||||||||||||||||||||||||||||
------------------------------------------------------------------------------------------------------------------------------
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
CHANGE OF ADDRESS
The registered office of the company has been shifted from 59D, Sector-10, Pocket-1, Dwarka, New Delhi – 110075, India to the present address w.e.f. 05.07.2010.
FIXED ASSETS
· Land
------------------------------------------------------------------------------------------------------------------------------
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.62.61 |
|
|
1 |
Rs.98.95 |
|
Euro |
1 |
Rs.68.15 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
1 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
1 |
|
--PROFITABILITY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
17 |
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.