MIRA INFORM REPORT

 

 

Report No. :

350517

Report Date :

23.11.2015

 

IDENTIFICATION DETAILS

 

Name :

NEW LAXMI STEEL AND POWER PRIVATE LIMITED

 

 

Registered Office :

M/61, Madhusudan Nagar, Bhubaneswar – 751001, Orissa

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

21.09.2007

 

 

Com. Reg. No.:

15-009542

 

 

Capital Investment / Paid-up Capital :

Rs. 28.570 Million

 

 

CIN No.:

[Company Identification No.]

U27109OR2007PTC009542

 

 

IEC No.:

2310000141

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

BBNN00538G

 

 

PAN No.:

[Permanent Account No.]

AACCN7722K

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject is engaged in manufacturing of MS Ingot and TMT Bar.

 

 

No. of Employees :

Information declined by the management.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (30)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

 

Maximum Credit Limits:

USD 290000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject was established in the year 2007 and it is engaged in the manufacturing of steel ingots, billets and TMT bars with its manufacturing facility located at Khurda, Bhubaneshwar.

 

For the financial year ended 2014, revenue of the company has been declined by 13.91% and it has reported low margins at 0.47% during the year under a review.

 

Rating remain constrained on account of company’s moderate financial profile marked by modest networth along with high gearing and weak coverage indicators.

 

The rating takes into account the vulnerability of the profitability to adverse movement in raw material prices, the working capital intensive nature of operations that adversely affects the company’s liquidity position and the company’s exposure to the cyclicality associated with the steel industry, which is passing through a downturn at present.

 

Trade relations are reported as fair. Payments are reported to be slow but correct.

 

In view of aforesaid, the company can be considered for business dealing with some caution.  

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – 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

ICRA

Rating

Cash Credit B+

Rating Explanation

Risk-prone-credit-quality and carries very high credit risk.

Date

January 15

 

 

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 DENIED BY

 

Name :

Mr. Rahul Agrawal

Designation :

Director

Contact No.:

91-9338213675

 

Name :

Mr. Ajay Das

Designation :

Account Manger

Contact No.:

91-9338213675

 

 

LOCATIONS

 

Registered Office :

M/61, Madhusudan Nagar, Bhubaneswar – 751001, Orissa, India

Tel. No.:

91-674-2390238 / 2395651 / 2390231

Mobile No.:

91-9338213675 (Mr. Rahul Agrawal)

91-9338213675 (Mr. Ajay Das)

Fax No.:

Not Available

E-Mail :

newlaxmibbsr@yahoo.com

 

 

Factory :

A/22 to ,A/25, Surua Industrial Estate, Khurda, Orissa, India

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Pawan Kumar Gupta

Designation :

Director

Address :

60 D Bommasandra Industrial Area Hosur Main Road, Bangalore – 560099, Karnataka, India

Date of Birth/Age :

14.06.1961

Date of Appointment :

21.09.2007

DIN No. :

00653038

Other Directorship :

S. No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U51909KA1990PTC011252

LAXMI GRANITES (INDIA) PRIVATE LIMITED

Director

09/07/1998

09/07/1998

14/05/2007

Active

NO

2

U14102KA2003PTC031541

NAVLAXMI ROCKS AND MINERALS PRIVATE LIMITED

Director

20/08/2005

20/08/2005

-

Active

NO

3

U26921OR2007PTC009306

NEW LAXMI POWER INFRASTRUCTURE PRIVATE LIMITED

Director

30/04/2007

30/04/2007

-

Active

NO

4

U27109OR2007PTC009542

NEW LAXMI STEEL AND POWER PRIVATE LIMITED

Director

21/09/2007

21/09/2007

-

Active

NO

5

U72400OR2007PTC009602

NEW LAXMI INFO SERVICES PRIVATE LIMITED

Director

05/11/2007

05/11/2007

-

Active

NO

6

U17121KA2009PTC050208

JAIHANUMAN COTTON GINNING MILLS PRIVATE LIMITED

Director

23/06/2009

23/06/2009

06/06/2011

Active

NO

 

 

Name :

Mr. Rahul Agarwal

Designation :

Director

Address :

Flat No 01, Ganapati Tower, Cuttack Road, Bhubaneswar, Khurda – 751010, Orissa, India

Date of Birth/Age :

26.01.1982

Date of Appointment :

21.09.2007

DIN No. :

01758877

Other Directorship :

S. No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U26921OR2007PTC009306

NEW LAXMI POWER INFRASTRUCTURE PRIVATE LIMITED

Director

30/04/2007

30/04/2007

-

Active

NO

2

U14102KA2003PTC031541

NAVLAXMI ROCKS AND MINERALS PRIVATE LIMITED

Director

14/06/2007

14/06/2007

-

Active

NO

3

U27109OR2007PTC009542

NEW LAXMI STEEL AND POWER PRIVATE LIMITED

Director

21/09/2007

21/09/2007

-

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Mr. Ajay Das

Designation :

Account Manger

 

MAJOR SHAREHOLDERS

 

As on 30.09.2014

 

Names of Shareholders

 

No. of Shares

Pawan Kumar Gupta

 

1595000

Rahul  Agarwal

 

5000

Ellenbarrie Projects Limited, India 

 

16000

Ellenbarrie Towers Limited, India

 

28000

Sharbhang Commercial Company Private Limited, India

 

34000

Crescent Leasing Limited, India

 

66000

Agnes Bruno Limited, India

 

16000

Arvind Suri

 

50000

Pet Properties and Constructions Private Limited, India

 

60000

Pallavi Apartment Private Limited, India

 

10000

Dee jay Promoters Private Limited, India

 

40000

Vedant Commodities Private Limited, India

 

10000

Ankit Lefine Private Limited, India

 

10000

Surendra Estcon Private Limited, India

 

400000

Katyayni Vinimaya Private Limited, India

 

20000

Wise Tie-Up Private Limited, India

 

40000

Nexus Barter Private Limited, India

 

40000

Ellenbarrie Commercial Limited, India

 

60000

Udhyaman Investment Private Limited, India

 

100000

Swarnarekha Dealcom Private Limited, India

 

20000

Zenom Vinimay Private Limited, Limited, India

 

30000

Venketesh Barter Private Limited, India

 

58500

Nector Business Solution Private Limited, India

 

40000

Arion Suppliers Private Limited, India

 

50000

Dream land Dealcom Private Limited, India

 

58500

Total

 

2857000

 

 

As on 31.03.2015

           

Names of Allottees

 

No. of Shares

Rahul  Agarwal S/O Bajrang Das Agarwal

 

160332

Pawan Kumar Gupta S/O Gangajal Gupta

 

1000780

Khubhram Ashram

 

333333

Dindayal Agarwal

 

500000

Navlaxmi Vikas Private Limited, India

 

605555

Total

 

2600000

 

 

As on 30.09.2014

 

Equity Share Break up (Percentage of Total Equity)

 

Category

Percentage of Holding

Bodies corporate

42.00

Directors or relatives of Directors

58.00

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged in manufacturing of MS Ingot and TMT Bar.

 

 

Products :
  • MS Ingot
  • TMT Bar

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Not Divulged

 

 

Purchasing :

Not Divulged

 

 

PRODUCTION STATUS: (31.03.2014)

 

Particulars

Production

Finished Goods

13604.220

TMT

10989.480

Ignot

--

TMT (WIP)

--

Mis Roll

2911.750

Ms Rod (Trading

--

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Auro lspat (India) Private Limited Cuttack

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

  • Baba Associate
  • Bindals Sponnge Industries Limited, Angul
  • Chaitanya industries Private Limited, Jajpur
  • Epic Alloy Steel Private Limited, Raigarh
  • Evergreen Traders, Bhubaneswar
  • Satyam Castings Private Limited, Cuttack
  • Shree Salasar Castings Private Limited. Rourkela.
  • Shri Mahavir Ferro Alloys (P) Limited, Rourkela
  • Shubh lspat Limited., Sundargarh

 

 

Customers :
  • Bhagawati Udyog, Sikandarabad
  • Anupam Realcon (P) Limited, Bhubaneswar
  • B.D.S. Corporation. Hanspal. BBSR
  • Bishan Dayal lnder Chand Project (P) Limited
  • D H S Associates. Bhubaneswar
  • D.D. Builders Limited BBSR
  • Decor Realty Private Limited, Bhubaneswar
  • Jind Plywood and H/W Store, Haryana
  • Kuthari Steels. Berharnpur
  • Maruti Commercials. Bhubaneshwar

 

 

No. of Employees :

Information declined by the management.

 

 

Bankers :

Banker Name

HDFC Bank Limited

Branch Address

HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

SECURED LOANS

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

LONG TERM BORROWINGS

 

 

From Banks

 

 

SBI Term Loan(1st) A/c No. 30724874305

48.000

64.000

Less : Installment Due in 2014-2015

24.000

16.000

SBI Term Loan (2nd) A/C No. 31017295451

7.800

11.000

Less : Instalment Due in 2014-15

3.600

3.200

Other Loans and Advances

 

 

HDFC Bank (Excavator) A/C No. 80428949

Note : The loan is secured against Tata Hitachi serial No-2001-50649. The rate of interest is 9.99. The Loan amount is be repayable in 17 (Seventeen ) Equated Monthly

installments (EMI)

2.073

3.369

HDFC Bank (Excavator) A/C No. 3443011

Note : The loan is secured against Tata Hitachi serial No-2001-50678. The rate of interest is 9.31. The Loan amount is be repayable in 18( Eighteen ) Equated Monthly

installments (EMI)

2.176

3.467

HDFC Bank (Excavator) A/C No. 80605011

Note : The loan is secured against Tata Hitachi serial No-2001-50856. The rate of interest is 8.98. The Loan amount is be repayable in 23 (Twenty Three) Equated Monthly

installments (EMI)

2.775

4.044

HDFC Bank (Excavator) A/C No. 80605012

Note : The loan is secured against Tata Hitachi serial No-2001-500858. The rate of interest is 8.98. The Loan amount is be repayable in 23 (Twenty Three) Equated Monthly

installments (EMI)

2.775

4.044

HDFC Bank (Excavator) A/C No. 80583161

Note : The loan is secured against Tata Hitachi serial No-2001-50853. The rate of interest is 8.98. The Loan amount is be repayable in 23 (Twenty Three)Equated Monthly

installments (EMI)

2.775

4.044

Axis Bank Loan (DG Set) A/C No. 912060000397584

Note : The loan is secured against DGSET serial CGS11124778. The rate of interest is 12.25. The Loan amount repayable in 9 (Nine) Equated Monthly Installments (EMI).

0.176

0.386

ICICI Loan A/C No. LQBBS00026873457

Note: The Loan is secured against DGSET serial CGS11124778 Hydrolic Mobile Crane No-OD02H8599. The rate of interest is 11.1, The Loan amount is repayable in 25 (Twenty Five) Equated Monthly Instalments (EMI)

0.786

0.000

Less : Instalment  Due in 2014-15

7.544

6.605

 

 

 

SHORT TERM BORROWINGS

 

 

Loans repayable on demand

 

 

From Banks

 

 

State Bank of India C/C A/C No. 30724933033

104.996

106.336

Total

139.188

174.885

 

 

 

Auditors :

 

Name :

Das Mohanty and Associates

Chartered Accountants

Address :

A/107, Ground Floor, Sahid Nagar, Bhubaneswar – 751001, Orissa, India

Tel. No.:

91-674-3296063

Mobile No.:

91-9437025431

E-Mail :

dasmohantyassociates@yahoo.com

PAN No.:

AACFD9332Q

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Company in which KMP / Relatives of KMP can exercise significant Influence :
  • Navlaxmi Rock and Minerals Private Limited
  • Laxmi Rolling and Strips (P) Limited, Bangalore 

 

 

Company in which KMP / Relatives of KMP can exercise :
  • Laxmi Steel Overseas Private Limited Bangalore
  • New Laxmi Granites 

 

 

CAPITAL STRUCTURE

 

After 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

8000000

Equity Shares

Rs.10/- each

Rs. 80.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

5457000

Equity Shares

Rs.10/- each

Rs. 54.570 Million

 

 

 

 

 

 

As on 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

3500000

Equity Shares

Rs.10/- each

Rs. 35.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2857000

Equity Shares

Rs.10/- each

Rs. 28.570 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

28.570

28.000

28.000

(b) Reserves & Surplus

74.296

71.577

69.762

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

2.000

2.000

Total Shareholders’ Funds (1) + (2)

102.866

101.577

99.762

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

127.949

145.644

101.046

(b) Deferred tax liabilities (Net)

1.754

1.283

0.956

(c) Other long term liabilities

33.000

1.500

1.500

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

162.703

148.427

103.502

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

105.002

119.358

92.815

(b) Trade payables

139.131

95.668

92.087

(c) Other current liabilities

43.922

64.522

89.863

(d) Short-term provisions

14.355

14.028

11.714

Total Current Liabilities (4)

302.410

293.576

286.479

 

 

 

 

TOTAL

567.979

543.580

489.743

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

143.148

154.042

143.608

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

0.000

0.000

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.000

0.000

0.000

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

12.963

14.587

13.920

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

156.111

168.629

157.528

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

279.400

218.671

255.807

(c) Trade receivables

114.764

131.552

45.423

(d) Cash and cash equivalents

3.333

1.623

10.680

(e) Short-term loans and advances

11.933

13.541

10.080

(f) Other current assets

2.438

9.564

10.225

Total Current Assets

411.868

374.951

332.215

 

 

 

 

TOTAL

567.979

543.580

489.743

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

 

 

 

 

GROSS TURNOVER

786.854

913.935

664.944

 

 

 

 

 

EXPENSES

 NA

 NA

 NA

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION 

27.897

23.760

26.105

 

 

 

 

 

DEPRECIATION/ AMORTISATION

25.214

21.507

23.315

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

2.683

2.253

2.790

 

 

 

 

 

TAX

0.934

0.595

1.114

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

1.749

1.658

1.132

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

0.61

0.58

0.40

 

 

            CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

NA

NA

NA

Cash generated from operations

40.388

(15.448)

NA

Net Cash used in Operating activities

39.924

(15.716)

985.638

 

 

KEY RATIOS

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

0.47

0.41

0.57

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.03

0.02

0.03

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

2.26

2.61

1.94

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.36

1.28

1.16

 

 

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

28.000

28.000

28.570

Reserves & Surplus

69.762

71.577

74.296

Share Application money pending allotment

2.000

2.000

0.000

Net worth

99.762

101.577

102.866

 

 

 

 

long-term borrowings

101.046

145.644

127.949

Short term borrowings

92.815

119.358

105.002

Total borrowings

193.861

265.002

232.951

Debt/Equity ratio

1.943

2.609

2.265

 

 

 

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)

Gross Turnover

664.944

913.935

786.854

 

 

37.445

(13.905)

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Millions)

(Rs. In Millions)

(Rs. In Millions)

Sales

664.944

913.935

786.854

Profit

1.132

1.658

1.749

 

0.17%

0.18%

0.22%

 

 

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

 

UNSECURED LOANS

 

PARTICULAR

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

LONG TERM BORROWINGS

 

 

Loans and advances from related parties

 

 

Laxmi Steel Overseas Private Limited

0.000

6.500

P. K. Gupta (Director

36.069

37.305

Sushila Devi Gupla

1.163

0.000

Navlaxmi Rocks and Minerals Private Limited

19.736

0.000

Laxmi Rolling Strips (P) Limited, Bangalore

20.500

0.000

Other Loans and Advances

 

 

Jamuna Reality Private

0.000

20.000

Mahalaxmi Steel Company

16.290

13.290

 

 

 

SHORT TERM BORROWINGS

 

 

Other Loans and Advances

 

 

Ankit Lefine Private Limited,  Bangalore

0.000

1.635

Champion Laminates Limited, Kolkata

0.000

0.763

Cyioqme Eastern India Private Limited, Kolkata.

0.000

0.545

Ellenbarie Commercial Limited, Kolkata

0.000

1.417

Ellenbarrie Towers Limited, Kolkata

0.000

1.635

Hill Top Impex Private Limited, Kolkata

0.000

0.545

Jabali Commercial Company Private Limited

0.000

0.327

Janet Investments Private Limited

0.005

0.324

Labh Exports Pul. Limited, Bangalore

0.000

3.597

Mannor Investments Private Limited, Kolkata.

0.000

0.654

Sharbhang Commercial Company Private Limited, Kolkata

0.000

0.218

Shashank Exports Private Limited, Kolkata.

0.000

0.926

The Vikrampur Tea and Industries Company Limited, Kolkata

0.000

0.436

Total

93.763

90.117

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10421853

17/03/2013

12,132,609.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI- 400013, MAHARASHTRA, INDIA

B73779589

2

10386550

27/09/2012

3,932,700.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI- 400013, MAHARASHTRA, INDIA

B62092614

3

10382005

31/08/2012

3,971,000.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI- 400013, MAHARASHTRA, INDIA

B60264686

4

10327625

13/12/2011

600,000.00

AXIS BANK LIMITED

ARCHBISHOP'S HOUSE, SATYANAGAR BRANCH, BHUBANESWAR, ORISSA - 751007, INDIA

B29237104

5

10212780

31/03/2010

4,100,000.00

AXIS BANK LIMITED

ARCH BISHOP'S HOUSE, SATYA NAGAR, BHUBANESWAR, ORISSA - 751007, INDIA

A83361238

6

10212781

31/03/2010

1,555,000.00

AXIS BANK LIMITED

ARCH BISHOP'S HOUSE, SATYA NAGAR, BHUBANESWAR, ORISSA - 751007, INDIA

A83361592

7

10146043

08/10/2010 *

221,600,000.00

STATE BANK OF INDIA

COMMERCIAL BRANCH, IDCOL HOUSE, ASHOKNAGAR, UNIT- 2, BHUBANESWAR, ORISSA - 751009, INDIA

A95973749

 

* Date of charge modification

 

 

FIXED ASSETS

 

  • Plant and Machinery
  • Trailor
  • Truck
  • Land
  • Factory Building
  • Furniture and Fixture
  • Electrical Fittings
  • Motor Cycle
  • Computer
  • Mahindra Pick –up Van
  • Telephone and Fax
  • JCB
  • Excavator
  • Generator
  • Weigh Bridge
  • Air Condition
  • Tools and Equipment
  • Pump Set Crane

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

---

6

Contact numbers

Yes

7

Name of the person contacted

Yes

8

Designation of contact person

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

No

16

No. of employees

No

17

Details of sister concerns

Yes

18

Major suppliers

Yes

19

Major customers

Yes

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

----

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

----

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

Yes

32

Litigations that the firm/promoter involved in

----

33

Market information

----

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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 financiajudgement 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. 66.09

UK Pound

1

Rs. 101.04

Euro

1

Rs. 70.86

 

 

INFORMATION DETAILS

 

Information Gathered by :

PRT

 

 

Analysis Done by :

KAR

 

 

Report Prepared by :

GEET

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

0

--BUSINESS SCALE

1~10

4

--PROFITABILITY

1~10

3

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

3

--CREDIT LINES

1~10

3

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

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

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

30

 

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

 

--

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.