MIRA INFORM REPORT
|
Report No. : |
319477 |
|
Report Date : |
04.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
RASHMI CEMENT LIMITED |
|
|
|
|
Formerly Known
As : |
RASHMI CEMENT COMPANY LIMITED (w.e.f. 19.08.1992) RASHMI CEMENT LIMITED |
|
|
|
|
Registered
Office : |
Post – Jhargram, District Paschim Medinipur, Jhargram – 721507, West
Bengal |
|
|
|
|
Tel. No.: |
91-3221-258411 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
12.09.1991 |
|
|
|
|
Com. Reg. No.: |
053043 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 293.231 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U14107WB1991PLC053043 |
|
|
|
|
IEC No.: |
0204014981 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCR4343R |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing, Exporting and Importing of Cement, Sponge
Iron, Ferro-Alloys and also Generation of Power. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 13230000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. General financial position of the company seems to be sound and healthy.
Profitability of the company is fair. Trade relations are fair. Business is active. Payments are reported to
be usually correct. The company can be considered for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 |
CARE |
|
Rating |
Long-term Bank Facilities: “BBB+” |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
03.11.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short-term Bank Facilities: “A3+” |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
03.11.2014 |
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 : |
Post-Jhargram, District Paschim Medinipur, Jhargram – 721507, West
Bengal |
|
Tel. No. : |
91-3221-258411 |
|
Fax No. : |
91-3221-258452 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
Premlata Building, 6th Floor, 39, Shakespeare Sarani,
Kolkata – 700017, West Bengal, India |
|
Tel. No.: |
91-33-22894255/ 56 |
|
Fax No.: |
91-33-22894254 |
|
|
|
|
Sales Office : |
1, Garstin Place, “Orbit”, 3rd Floor, Kolkata – 700001, West Bengal, India |
|
Tel. No.: |
91-33-22438517 |
|
Fax No.: |
91-33-22438521 |
|
|
|
|
Factory : |
Village Garh, Salboni, West Midnapore, Jhargram - 721507, West Bengal, India |
DIRECTORS
|
Name : |
Subhendu Biswas |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
P.O. Jhargram, Midnapur - 721507, West Bengal, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
15.12.1952 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
14.07.2010 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No. : |
03114508 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Dipanjan Mahata |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Mauja- Raghunathpur, (Part) J,L, No-360, 16 (Part), Jhargram - 721507,
West Bengal, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
02.10.1979 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
06.01.2012 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No. : |
03456228 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Sisir Kumar Bhunia |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Vill - Amdadighi, PS - Shyamchak, Po - Debra, West Midapore - 721301,
West Bengal, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
12.11.1965 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.08.2014 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No. : |
06818130 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Anil Kumar Mohta |
|
Designation : |
Secretary |
|
Address : |
59A, Pathuria Ghat Street, Kolkata - 700006, West Bengal, India |
|
PAN No.: |
AFCPM4440D |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
NOTE: SHAREHOLDING DETAILS FILE ATTACHED.
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
93.40 |
|
Directors or relatives of Directors |
6.57 |
|
Other top fifty shareholders |
0.03 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing, Exporting and Importing of Cement, Sponge
Iron, Ferro-Alloys and also Generation of Power. |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
-- |
||||
|
|
|
||||
|
Agencies Held : |
-- |
||||
|
|
|
||||
|
Exports : |
-- |
||||
|
|
|
||||
|
Imports : |
-- |
||||
|
|
|
||||
|
Terms : |
-- |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
· State Bank of Hyderabad, 113, Park Street, Park Street Branch, Poddar Point, Kolkata - 700016, West Bengal, India · State Bank of India (Lead Bank), Commercial Branch, Kolkata, 24, Park Street, Kolkata - 700016, West Bengal, India ·
Indian Overseas Bank, Strand Road Branch, 2,
Church Lane, Kolkata - 700001, West Bengal, India |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||||||||
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
SKV and Company Chartered Accountants |
|
Address : |
32, Ezra Street, Todi Corner, 8th Floor,
Room No – 807, Kolkata - 700001, West Bengal, India |
|
Income-tax PAN of auditor or auditor's firm : |
ABWFS1414K |
|
|
|
|
Cost Accountants : |
|
|
Name : |
B. Modal and Associates Cost Accountants |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
As on 31.09.2014
Authorised Capital : Rs. 400.000 Million
Issued, Subscribed & Paid-up Capital : Rs.
379.822 Million
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 300.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
29,323,130 |
Equity Shares |
Rs.10/- each |
Rs. 293.231 Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
293.231 |
293.231 |
293.231 |
|
(b) Reserves & Surplus |
4336.500 |
4166.471 |
4024.970 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
4629.731 |
4459.702 |
4318.201 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
4.903 |
355.631 |
571.423 |
|
(b) Deferred tax liabilities (Net) |
273.804 |
313.958 |
301.858 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
6.600 |
4.548 |
3.999 |
|
Total Non-current
Liabilities (3) |
285.307 |
674.137 |
877.280 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
676.627 |
1055.912 |
1099.551 |
|
(b) Trade
payables |
724.806 |
137.321 |
251.612 |
|
(c) Other
current liabilities |
162.061 |
396.321 |
420.306 |
|
(d) Short-term
provisions |
12.729 |
13.731 |
9.874 |
|
Total Current
Liabilities (4) |
1576.223 |
1603.285 |
1781.343 |
|
|
|
|
|
|
TOTAL |
6491.261 |
6737.124 |
6976.824 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
2692.457 |
2519.685 |
2707.063 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
174.183 |
499.365 |
401.463 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
14.550 |
14.550 |
14.550 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
380.225 |
347.502 |
394.910 |
|
(e) Other
Non-current assets |
347.897 |
55.685 |
156.790 |
|
Total Non-Current
Assets |
3609.312 |
3436.787 |
3674.776 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1548.293 |
1229.896 |
1114.549 |
|
(c) Trade
receivables |
597.087 |
1006.782 |
1117.012 |
|
(d) Cash
and cash equivalents |
223.346 |
309.499 |
75.432 |
|
(e)
Short-term loans and advances |
513.223 |
754.160 |
995.055 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
2881.949 |
3300.337 |
3302.048 |
|
|
|
|
|
|
TOTAL |
6491.261 |
6737.124 |
6976.824 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4814.177 |
5111.427 |
3917.281 |
|
|
|
Other Income |
12.984 |
19.140 |
11.050 |
|
|
|
TOTAL (A) |
4827.161 |
5130.567 |
3928.331 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
3710.091 |
4190.584 |
3030.756 |
|
|
|
Purchases of Stock-in-Trade |
131.891 |
30.877 |
13.739 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
2.239 |
(14.306) |
(3.746) |
|
|
|
Employees benefits expense |
69.123 |
59.113 |
81.742 |
|
|
|
Other expenses |
367.763 |
239.145 |
263.083 |
|
|
|
TOTAL (B) |
4281.107 |
4505.413 |
3385.574 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
546.054 |
625.154 |
542.757 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
209.751 |
226.418 |
155.373 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
336.303 |
398.736 |
387.384 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
206.429 |
201.582 |
198.884 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
129.874 |
197.154 |
188.500 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
-40.155 |
55.650 |
79.693 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
170.029 |
141.504 |
108.807 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of Goods (FOB) |
363.403 |
126.448 |
605.679 |
|
|
TOTAL EARNINGS |
363.403 |
126.448 |
605.679 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Purchase of Raw Material |
1118.178 |
10.942 |
961.993 |
|
|
TOTAL IMPORTS |
1118.178 |
10.942 |
961.993 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
5.80 |
4.83 |
3.90 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
3.53 |
2.77 |
2.78 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
11.34 |
12.23 |
13.86 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.06 |
3.17 |
2.87 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03 |
0.04 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.15 |
0.32 |
0.39 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.83 |
2.06 |
1.85 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
293.231 |
293.231 |
293.231 |
|
Reserves & Surplus |
4024.970 |
4166.471 |
4336.500 |
|
Net
worth |
4318.201 |
4459.702 |
4629.731 |
|
|
|
|
|
|
Long-term Borrowings |
571.423 |
355.631 |
4.903 |
|
Short term Borrowings |
1099.551 |
1055.912 |
676.627 |
|
Total
borrowings |
1670.974 |
1411.543 |
681.530 |
|
Debt/Equity
ratio |
0.387 |
0.317 |
0.147 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
3917.281 |
5111.427 |
4814.177 |
|
|
|
30.484 |
(5.815) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
3917.281 |
5111.427 |
4814.177 |
|
Profit |
108.807 |
141.504 |
170.029 |
|
|
2.78% |
2.77% |
3.53% |
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
three years |
Yes |
|
12] |
Profitability for last
three 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 |
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10534042 |
30/09/2014 |
16,987,160.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
ONE FORBS, DR. V. B. GANDHI MARG, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
C35463074 |
|
2 |
10509759 |
31/05/2014 |
6,063,500.00 |
INDUSIND BANK |
39 SHAKESPEARE SARANI, 6TH FLOOR, KOLKATA, WEST BENGAL - 700007, INDIA |
C11847324 |
|
3 |
10509756 |
31/03/2014 |
3,700,000.00 |
INDUSIND BANK |
39 SHAKESPEARE SARANI, 6TH FLOOR, KOLKATA, WEST BENGAL - 700007, INDIA |
C11846417 |
|
4 |
10509757 |
31/03/2014 |
3,700,000.00 |
INDUSIND BANK |
39 SHAKESPEARE SARANI, 6TH FLOOR, KOLKATA, WEST BENGAL - 700007, INDIA |
C11846714 |
|
5 |
10509758 |
31/03/2014 |
3,700,000.00 |
INDUSIND BANK |
39 SHAKESPEARE SARANI, 6TH FLOOR, KOLKATA, WEST BENGAL - 700007, INDIA |
C11847100 |
|
6 |
10509760 |
31/03/2014 |
3,700,000.00 |
INDUSIND BANK |
39 SHAKESPEARE SARANI, 6TH FLOOR, KOLKATA, WEST BENGAL - 700007, INDIA |
C11847449 |
|
7 |
10509762 |
31/03/2014 |
3,700,000.00 |
INDUSIND BANK |
39 SHAKESPEARE SARANI, 6TH FLOOR, KOLKATA, WEST BENGAL - 700007, INDIA |
C11847753 |
|
8 |
10445460 |
29/07/2013 |
9,300,000.00 |
L & T FINANCE LIMITED |
L&T HOUSE,
BALLARD ESTATE, MUMBAI, MAHARASHTRA |
B83236240 |
|
9 |
10200391 |
19/01/2010 |
1,785,200,000.00 |
STATE BANK OF INDIA (LEAD BANK) |
COMMERCIAL BRANCH, KOLKATA, 24, PARK STREET, KOLKATA, WEST BENGAL - 700016, INDIA |
A78737897 |
|
10 |
10200392 |
19/01/2010 |
1,787,000,000.00 |
STATE BANK OF INDIA (LEAD BANK) |
COMMERCIAL BRANCH, KOLKATA, 24, PARK STREET, KOLKATA, WEST BENGAL - 700016, INDIA |
A78738846 |
|
11 |
10154789 |
12/09/2011 * |
50,000,000.00 |
STATE BANK OF HYDERABAD |
113, PARK STREET, PARK STREET BRANCH, PODDAR POINT, KOLKATA, WEST BENGAL - 700016, INDIA |
B20447462 |
|
12 |
10133633 |
09/01/2009 * |
572,500,000.00 |
INDIAN OVERSEAS BANK |
STRAND ROAD BRANCH, 2, CHURCH LANE, KOLKATA, WEST BENGAL - 700001, INDIA |
A55155063 |
|
13 |
10133598 |
19/01/2012 * |
624,000,000.00 |
PUNJAB NATIONAL BANK |
LARGE CORPORATE
BRANCH, 44, PARK STREET, KOLKATA, |
B29987823 |
|
14 |
10117147 |
25/06/2008 |
5,504,998.00 |
CITICORP FINANCE (INDIA) LIMITED. |
7TH FLOOR, METRO PLAZA, 1, HO CHI MINH SARANI, KOLKATA, WEST BENGAL - 700071, INDIA |
A43363969 |
|
15 |
10116843 |
20/06/2008 |
5,720,000.00 |
CITICORP FINANCE (INDIA) LIMITED. |
7TH FLOOR, METRO PLAZA, 1, HO CHI MINH SARANI, KOLKATA, WEST BENGAL - 700071, INDIA |
A43364868 |
|
16 |
10016925 |
19/01/2010 * |
3,572,200,000.00 |
STATE BANK OF INDIA (LEAD BANK) |
COMMERCIAL BRANCH, KOLKATA, 24, PARK STREET, KOLKATA, WEST BENGAL - 700016, INDIA |
A80863764 |
|
17 |
10017915 |
18/08/2006 |
1,310,000.00 |
KOTAK MAHINDRA BANK LIMITED |
7TH FLOOR C BLOCK,
APEEJAY HOUSE 15 PARK STREET, |
A04147377 |
|
18 |
10017907 |
18/08/2006 |
2,395,000.00 |
KOTAK MAHINDRA BANK LIMITED |
7TH FLOOR C BLOCK,
APEEJAY HOUSE 15 PARK STREET, |
A04149019 |
|
19 |
90254717 |
10/08/2005 |
2,036,800.00 |
KOTAK MAHINDRA BANK LIMITED |
PARK STREET, KOLKATA, WEST BENGAL, INDIA |
- |
|
20 |
90254612 |
25/03/2005 |
1,320,000.00 |
KOTAK MAHINDRA BANK LIMITED |
15; PARK STREET,
APEEJAY HOUSE; 7-FLOOR C BLOCK, |
- |
|
21 |
90254573 |
25/02/2005 |
3,414,000.00 |
KOTAK MAHINDRA BANK LIMITED |
15; PARK STREET, APEEJAY
HOUSE; 7-FLOOR C BLOCK, |
- |
|
22 |
90252868 |
19/01/2010 * |
3,572,200,000.00 |
STATE BANK OF INDIA (LEAD BANK) |
COMMERCIAL BRANCH, KOLKATA, 24, PARK STREET, KOLKATA, WEST BENGAL - 700016, INDIA |
A80858806 |
|
23 |
90256112 |
09/02/2004 * |
48,700,000.00 |
WEST BENGAL
INDUSTRIAL DEVELOPMENT CORPORATION LIMITED |
5; COUNCIL HOUSE STREET, KOLKATA, WEST BENGAL - 700001, INDIA |
- |
|
24 |
90252833 |
19/01/2010 * |
3,572,200,000.00 |
STATE BANK OF INDIA (LEAD BANK) |
COMMERCIAL BRANCH, KOLKATA, 24, PARK STREET, KOLKATA, WEST BENGAL - 700016, INDIA |
A80862105 |
|
25 |
90252831 |
21/10/2008 * |
1,743,300,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, 24, PARK STREET, KOLKATA, WEST BENGAL - 700016, INDIA |
A51528974 |
* Date of charge modification
CORPORATE INFORMATION
The company is having its registered office at Raghunathpur, P.O: Jhargram, Dist: Paschim Mednipur, West Bengal -721 507 was incorporated in 1991. It is having factories at Boria, Garh Salboni, Jhargram, Dist: Paschim Mednipur, West Bengal -721 507 and at Jitusole, Garh Salboni, Jhargram, Dist: Paschim Mednipur, West Bengal -721 507. It is engaged in manufacturing of Cement, Sponge Iron, Ferro-Alloys and into Generation of Power.
FINANCIAL REVIEW
Despite a challenging macroeconomic environment and constraint in procurement of Raw Material in cement and steel industries company has manage to perform reasonably well. Members will notice the revenue of the Company slightly on the lower side from Rs 5111.427 Million in FY 2012-13 to Rs. 4814.177 Million in FY 2013-14. The EBIDTA for the year is Rs.533.070 Million and the net profit for the year is Rs 170.029 Million against Rs. 141.504 Million in previous year.
APPRECIATION AND
ACKNOWLEDGEMENT
The board takes this opportunity to express its sincere appreciation for the excellent support and cooperation received from company`s customers, suppliers, Government Authorities, Bankers, investors, financial Institutions and shareholders for their consistent contribution to the company`s success.
The Directors place on record their deep appreciation to employees at all levels for their hard work, dedication and commitment as their enthusiasm and unstinting efforts have enabled the Company to remain at the forefront of the Industry.
It will be Company’s endeavor to build and nurture strong links with the trade based on mutuality of benefits, respect to and co-operation with each other, consistent with consumer interests.
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
|
|
|
|
Un-expired Bank Guarantees and Letter of Credit |
347.603 |
545.371 |
FIXED ASSETS
Tangible Assets
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Computer Equipment’s
· Other Equipment’s
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l Anti-Money
Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 63.58 |
|
|
1 |
Rs. 97.99 |
|
Euro |
1 |
Rs. 70.53 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
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.