IRA INFORM REPORT
|
Report No. : |
348367 |
|
Report Date : |
05.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
SONA ALLOYS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
4th Floor, Medi-Max House, Opposite Karnavati Hospital, Ellis Bridge,
Ahmedabad-380006, Gujarat |
|
Tel. No.: |
91-79-40071603 |
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|
|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2014 |
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|
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Date of
Incorporation : |
04.01.2007 |
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|
|
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Com. Reg. No.: |
04-049708 |
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|
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Capital
Investment / Paid-up Capital : |
Rs. 2057.348 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27107GJ2007PTC049708 |
|
|
|
|
IEC No: |
0807016225 |
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|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
AHMS13750C |
|
|
|
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PAN No.: [Permanent Account No.] |
AAKCS5706L |
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|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Exporter and Importer of Pig Iron, Mild Steel and Alloy Steel Products |
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|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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|
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Payment Behaviour : |
Slow and delayed |
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Litigation : |
Exists |
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Comments : |
Subject was incorporated in January 2007. It operates an integrated
mini steel plant with blast furnace capacity of 336,000 metric tonne per
annum (MTPA) which commenced operations in November 2010. It has moderate
track record. The company has incurred loss from operation during FY2014. Short term
borrowings of the company is increasing as compared to previous year. There
is unfavorable gap between trade receivables and trade payables. However, trade relations are reported as fair. Business is active. Payment
are reported to be slow and delayed. The company can be considered for business dealings with some
caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities B+ |
|
Rating Explanation |
Have risk-prone credit quality and carries very high credit risk. |
|
Date |
31.03.2015 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities A4 |
|
Rating Explanation |
Have minimal degree of safety and carry very high credit risk. |
|
Date |
31.03.2015 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2015.
INFORMATION DECLINED
Management non-cooperative (91-79-40071604)
LOCATIONS
|
Registered / Head Office : |
4th Floor, Medi-Max House, |
|
Tel. No.: |
91-79-40071603/ 40071604-05 |
|
Fax No.: |
91-79-40071607 |
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E-Mail : |
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|
Website : |
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|
Location : |
Owned |
|
|
|
|
Factory : |
C-1, MIDC, Village Lonand, Taluka Khandala, District Satara – 415521, |
|
Tel No.: |
91-2169-226826/ 226828 / 2270000 |
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Fax No.: |
91-2169-226828 |
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|
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Branch Office: |
C2/15, Brahma Estate, |
|
Tel No.: |
91-20-26831546/ 30428329 |
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Fax No: |
91-20-26837239 |
|
Location: |
Owned |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Amit Ratankumar Jain |
|
|
Designation : |
Managing director |
|
|
Address : |
E-302, Ashawari, Behind Fun Republic, Near Karnavati Club, S.G.
Highway, Satellite, Ahmedabad – 380015, Gujarat, India |
|
|
Date of Birth/Age : |
10.07.1973 |
|
|
Date of Appointment : |
01.01.2008 |
|
|
PAN No.: |
ADRPJ4826H |
|
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Voter ID No.: |
LPZ8936744 |
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|
01353681 |
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|
|
|
|
|
|
Name : |
Mr. Asit Pawankumar Jain |
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|
Designation : |
Whole-time director |
|
|
Address : |
E-302, Ashawari, Behind Fun Republic, Near Karnavati Club, S.G. Highway, Satellite, Ahmedabad – 380015, Gujarat, India |
|
|
Date of Birth/Age : |
12.09.1976 |
|
|
Date of Appointment : |
04.01.2007 |
|
|
PAN No.: |
AAVPJ6075F |
|
|
Voter ID No.: |
LPZ8935751 |
|
|
DIN No.: |
01353705 |
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|
|
|
|
|
Name : |
Mr. Satyanarayan Bhagwat |
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|
Designation : |
Director |
|
|
Address : |
Kadam Building, Nira Satara Road, Lonand District Satara Taluka Khandala-415521, Maharashtra, India |
|
|
Date of Appointment : |
20.07.2013 |
|
|
DIN No.: |
06636885 |
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|
|
|
|
|
Name : |
Mr. Rishabhkumar Sonaram Jain |
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|
Designation : |
Director |
|
|
Address : |
2259-B, Agrasen Bhawan, Near H.K. Dave’s Bungalow, Bhavnagar – 364002, Gujarat, India |
|
|
Date of Birth/Age : |
10.10.1954 |
|
|
Date of Appointment : |
04.01.2007 |
|
|
PAN No.: |
ADHPJ3315M |
|
|
Voter ID No.: |
CFP4005898 |
|
|
DIN No.: |
00933473 |
|
KEY EXECUTIVES
|
Name : |
R. Vijayakumar |
|
Designation : |
Secretary |
|
Address : |
C-12, Shrinand Nagar, Part One, Vejalpur, Ahmedabad – 380051, |
|
Date of Birth/Age : |
27.01.1957 |
|
Date of Appointment : |
07.05.2011 |
|
PAN No.: |
AAVPR3039F |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Amit Jain |
5372123 |
2.61% |
|
Rishab KumarJain |
5630162 |
2.74% |
|
Asit Jain |
1413345 |
0.69% |
|
RatankumarJain |
499500 |
0.24% |
|
Sachin Patel |
378221 |
0.18% |
|
Neuromed Imaging Centre Private Limited, India |
62264527 |
30.26% |
|
Ganpati Cold Warehouse Private Limited, India |
1497602 |
0.73% |
|
Narayani Vypaar Private Limited, India |
29016065 |
14.10% |
|
Amjay Medimax lndla Private Limited, India |
15875150 |
7.72% |
|
Tulsi Trimpex Private Limited, India |
39545465 |
19.22% |
|
Kristi Corporation, USA |
912487 |
0.44% |
|
Ganga Advisory Private Limited, India |
150000 |
0.07% |
|
Gurukul Dealers Private Limited, India |
7595450 |
3.69% |
|
Yamuna Advisory Private Limited, India |
13660000 |
6.64% |
|
A.S. Ferrum Private Limited, India |
1000000 |
0.49% |
|
Purple Tradecorn Private Limited, India |
200000 |
0.10% |
|
Babulal Jain |
833300 |
0.41% |
|
Kiran M Jain |
583300 |
0.28% |
|
Lonand Cement Private Limited |
583300 |
0.28% |
|
Mohan Febtux Limited |
2500000 |
1.22% |
|
Pani Logistics |
5225000 |
2.54% |
|
Ritesh M Jain (HUF) |
1666600 |
0.81% |
|
Sri Narayan Mercantiles Mineral |
833300 |
0.41% |
|
Shreya Enterprises |
6666600 |
3.24% |
|
Barsa Steel Private Limited |
1833300 |
0.89% |
|
Total |
205734797 |
100.00 |
As on 31.03.2015
|
Names of Allottees |
|
No. of Shares |
|
Ganga Advisory Private Limited, India |
|
37550000 |
|
Amit Jain |
|
2740000 |
|
Neuromed Imaging Centre Private Limited, India |
|
9840200 |
|
Tulsi Trimpex Private Limited, India |
|
4135003 |
|
Total |
|
54265203 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
0.63 |
|
Bodies corporate |
85.41 |
|
Directors or relatives of Directors |
6.28 |
|
Others |
7.68 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Pig Iron, Mild Steel and Alloy Steel Products |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
· State Bank of Travancore, 11 Ground Floor, "Kaivanna", Ambawadi, Ahmedabad - 380006, Gujarat, India · Kotak Mahindra Bank Limited, 36-38A, Nariman Bhavan, 227,D, Nariman Point, Mumbai - 400021, Maharashtra, India · State Bank of India, Industrial Finance Branch, Neptune Tower, Annexe, Opposite Gandhigram R.S., Off Ashram Road, Ahmedabad - 380009, Gujarat, India · Bank of India, Ahmedabad Corporate Banking Branch, 2nd Floor, BOI Building, Bhadra, Ahmedabad - 380001, Gujarat, India |
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Facilities : |
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Financial
Institution: |
SBICAP Trustee Company Limited, 202 Maker Tower "E" , Cuffe Parade, Mumbai, Mumbai, Maharashtra - 400005, India |
|
Auditors : |
|
|
Name : |
Sunil Poddar and Company Chartered Accountants |
|
Address : |
301-305, Vrajbhumi Complex, B/H Shilp Buildings, Off C. G. Road, Navrangapur,
Ahmedabad – 380009, Gujarat, India |
|
Tel. No.: |
91-79-26402893/ 26431097 |
|
Fax No.: |
91-79-26462614 |
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PAN N Income-tax PAN of auditor or auditor's firm : |
ABEFS3044F |
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|
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Memberships : |
Not Available |
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|
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Collaborators : |
Not Available |
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|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
|
CAPITAL STRUCTURE
After 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
260,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 2600.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
260,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 2600.000 Million |
|
|
|
|
|
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
210,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 2100.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
205,734,797 |
Equity Shares |
Rs.10/- each |
Rs. 2057.348
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 |
2057.348 |
2057.348 |
1742.160 |
|
(b) Reserves & Surplus |
(526.664) |
494.172 |
180.542 |
|
(c) Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
674.039 |
557.260 |
377.598 |
|
Total
Shareholders’ Funds (1) + (2) |
2204.723 |
3108.780 |
2300.300 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
3151.700 |
3461.744 |
3518.775 |
|
(b) Deferred tax liabilities
(Net) |
138.224 |
199.376 |
85.943 |
|
(c) Other long term
liabilities |
198.511 |
116.823 |
91.992 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
3488.435 |
3777.943 |
3696.710 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
2553.231 |
1674.038 |
885.383 |
|
(b) Trade payables |
2551.331 |
1977.902 |
1189.640 |
|
(c) Other current liabilities |
1897.936 |
1454.333 |
1066.843 |
|
(d) Short-term provisions |
81.771 |
114.914 |
72.303 |
|
Total
Current Liabilities (4) |
7084.269 |
5221.187 |
3214.169 |
|
|
|
|
|
|
TOTAL |
12777.427 |
12107.910 |
9211.179 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
6308.776 |
5201.918 |
5453.083 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
691.967 |
908.806 |
131.768 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
5.884 |
|
(b) Non-current Investments |
60.100 |
60.100 |
60.100 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
11.246 |
11.247 |
11.247 |
|
(e) Other Non-current assets |
211.883 |
212.593 |
2.659 |
|
Total
Non-Current Assets |
7283.972 |
6394.664 |
5664.741 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
2980.997 |
2694.048 |
2094.690 |
|
(c) Trade receivables |
635.219 |
1505.065 |
502.989 |
|
(d) Cash and cash equivalents |
327.524 |
299.840 |
231.993 |
|
(e) Short-term loans and
advances |
1526.003 |
1196.997 |
702.727 |
|
(f) Other current assets |
23.712 |
17.296 |
14.039 |
|
Total
Current Assets |
5493.455 |
5713.246 |
3546.438 |
|
|
|
|
|
|
TOTAL |
12777.427 |
12107.910 |
9211.179 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
|
8611.513 |
6853.583 |
|
|
Other Income |
|
35.112 |
88.758 |
|
|
TOTAL
(A) |
8587.500 |
8646.625 |
6942.341 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
|
6779.808 |
4985.107 |
|
|
Purchases of Stock-in-Trade |
|
114.708 |
116.665 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(504.426) |
(111.000) |
|
|
Employees benefits expense |
|
500.867 |
525.985 |
|
|
Other expenses |
|
332.447 |
292.845 |
|
|
TOTAL
(B) |
8282.000 |
7223.404 |
5809.602 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
305.500 |
1423.221 |
1132.739 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1084.300 |
776.406 |
662.528 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(778.800) |
646.815 |
470.211 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
303.200 |
282.789 |
217.209 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(1082.000) |
364.026 |
253.002 |
|
|
|
|
|
|
|
Less |
TAX (H) |
(61.200) |
113.434 |
82.732 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(1020.800) |
250.592 |
170.270 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(4.96) |
1.39 |
NA |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
1062.260 |
911.956 |
499.580 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operation |
(1081.988) |
364.026 |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin
(PAT / Sales) |
(%) |
NA |
2.91 |
2.48 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
NA |
16.53 |
16.53 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(9.00) |
3.27 |
2.81 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.49) |
0.12 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
3.07 |
1.95 |
2.13 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.78 |
1.09 |
1.10 |
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 |
1742.160 |
2057.348 |
2057.348 |
|
Reserves & Surplus |
180.542 |
494.172 |
(526.664) |
|
Share Application money
pending allotment |
377.598 |
557.260 |
674.039 |
|
Net
worth |
2300.300 |
3108.780 |
2204.723 |
|
|
|
|
|
|
long-term borrowings |
3518.775 |
3461.744 |
3151.700 |
|
Short term borrowings |
885.383 |
1674.038 |
2553.231 |
|
Current Maturities of
Long-Term Debts |
499.580 |
911.956 |
499.580 |
|
Total
borrowings |
4903.738 |
6047.738 |
6204.511 |
|
Debt/Equity
ratio |
2.132 |
1.945 |
2.814 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
6942.341 |
8646.625 |
8587.500 |
|
|
|
24.549 |
(0.684) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
6942.341 |
8646.625 |
8587.500 |
|
Profit |
170.270 |
250.592 |
(1020.800) |
|
|
2.45% |
2.90% |
(11.89%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
LITIGATION DETAILS
|
HIGH
COURT OF GUJARAT COMPANY PETITION No. 273
of 2015
Last Listing Date: 04/12/2015
|
NOTE: Registered office of the company has been shifted from 403, Sakar - I, Opposite Nehru Bridge, Ashram Road, Ahmedabad-380006, Gujarat, India to the present address w.e.f. 01.01.2008
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Intercorporate borrowings |
509.453 |
189.437 |
|
|
|
|
|
Short-term
borrowings |
|
|
|
Term loans from others |
60.575 |
206.917 |
|
|
|
|
|
Total |
570.028 |
396.354 |
OPERATIONAL
PERFORMANCE:
During the year, the company produced 258768 M.T. (P.Y.219628.92 MT) of Pig Iron including Skull and chips and achieved Revenue from Gross Sales and other Income to the tune of Rs.8646.600 Million (P.Y.Rs.6942.300 Million ), and Net Profit of Rs.250.600 Million (P.Y. Rs. 170.300 Million). The Plant has achieved stability in manufacturing operations.
OUTLOOK:
During the financial year 2013-14, high volatility in foreign currency is being experienced due to various factors. However, the Directors expect a stability will be seen in the months to come.
Moreover during the current financial year, the Country has received adequate rains which will result into pushing through the economy forward.
Therefore, the Directors expect the demand to pick up. The restrictions imposed on the mining activities continue and the iron ore is procured through the e-auction conducted by the Government Agency. In this method of purchase, the Company is required to make advance payment for the purchase of the same. Because of this, the Company is required to maintain larger stock of the iron ore causing liquidity strain and pressure on margin. Presently, the Company is generating huge amount of Slag from the manufacture of Pig Iron. The Company had decided to produce slag cement (GGBS) by using the slag which will improve the sales and profit. The GGBS is project is completed and has started manufacture from the financial year 2013-14. The Directors expect that the GGBS will contribute to improve profit of the Company.
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10584725 |
31/07/2015 |
10,878,600,000.00 |
SBICAP TRUSTEE COMPANY LIMITED |
202 MAKER TOWER "E" , CUFFE PARADE, MUMBAI, MUMBAI,
Maharashtra - 400005, INDIA |
C61125381 |
|
2 |
10543171 |
30/12/2014 |
10,878,600,000.00 |
SBICAP TRUSTEE COMPANY LIMITED |
202 MAKER TOWER "E", CUFFE PARADE, MUMBAI, MUMBAI,
Maharashtra - 400005, INDIA |
C40516791 |
|
3 |
10438545 |
24/07/2013 |
3,060,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra
- 400013, INDIA |
B80311780 |
|
4 |
10432399 |
20/06/2013 |
4,343,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra
- 400013, INDIA |
B77648061 |
|
5 |
10424711 |
28/03/2013 |
250,000,000.00 |
BANK OF MAHARASHTRA |
1208 BHUSARI COLONY BRANCH PUNE, PAUD ROAD, BHUSARI COLONY, PUNE,
Maharashtra - 411038, INDIA |
B74754185 |
|
6 |
10251640 |
09/11/2010 |
5,185,754.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227,D,, NARIMAN POINT, MUMBAI, Maharashtra -
400021, INDIA |
A99913428 |
|
7 |
10246810 |
24/09/2010 |
1,770,000,000.00 |
STATE BANK OF INDIA |
INDUATRIAL FINANCE BRANCH, GUJARAT BHAVAN, OPP M J LIBRARY, ELLISEBRIDGE,
AHMEDABAD, Gujarat - 380006, INDIA |
A96833769 |
|
8 |
10237435 |
31/12/2010 * |
265,000,000.00 |
BANK OF MAHARASTRA |
ASHRAM ROAD BRANCH, EMBASSY MARKET, NR. DINESH HALL, AHMEDABAD,
Gujarat - 380009, INDIA |
B04194486 |
|
9 |
10209351 |
02/02/2010 |
90,000,000.00 |
BANK OF INDIA |
AHMEDABAD CORPORATE BANKING BRANCH, 2ND FLOOR,, BANK OF INDIA
BUILDING, BHADRA,, AHMEDABAD, Gujarat - 380001, INDIA |
A82062928 |
|
10 |
10143748 |
24/06/2010 * |
219,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, GUJARAT BHAVAN, OPP M J LIBRARY,
ELLISBRIDGE, AHMEDABAD, Gujarat - 380006, INDIA |
A92118116 |
FIXED ASSETS
Tangible Assets
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Computer Equipments
· Other Equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON DESIGNATED
PARTY
No exist designating subject or any of its
beneficial owners, controlling shareholders or senior officers as terrorist or
terrorist organization or whom notice had been received that all financial
transactions involving their assets have been blocked or convicted, found
guilty or against whom a judgement or order had been entered in a proceedings
for violating money-laundering, anti-corruption or bribery or international
economic or anti-terrorism sanction laws or whose assets were seized, blocked,
frozen or ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the
property or assets of the subject are derived from criminal conduct or a
prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No
record exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our
market survey revealed that the amount of compensation sought by the subject is
fair and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.57 |
|
|
1 |
Rs.101.12 |
|
Euro |
1 |
Rs.71.79 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
27 |
This score serves as
a reference to assess SC’s credit risk and to set the amount of credit to be
extended. It is calculated from a composite of weighted scores obtained from
each of the major sections of this report. The assessed factors and their relative
weights (as indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.