MIRA INFORM REPORT
|
Report No. : |
343366 |
|
Report Date : |
02.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
SHYAM STEEL INDUSTRIES LIMITED (w.e.f. 18.12.2003) |
|
|
|
|
Formerly Known
As : |
SHYAM SHREE STEELS LIMITED |
|
|
|
|
Registered Office
: |
EN 32, Sector – V, Salt Lake City, Kolkata – 700091, West
Bengal |
|
Tel No.: |
91-33-40074007 |
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|
|
|
Country : |
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|
|
|
Financials (as
on) : |
31.03.2014 |
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|
|
|
Date of
Incorporation : |
08.03.2002 |
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|
|
|
Com. Reg. No.: |
21-094339 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.65.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27100WB2002PLC094339 |
|
|
|
|
TIN No.: |
Not Available |
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|
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IEC No.: |
0203027485 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALS09603G |
|
|
|
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PAN No.: [Permanent Account No.] |
AAGCS3838R |
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|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
Line of Business
: |
The Company is engaged in the business of manufacturing of
various iron & steel products including Hot Rolled Steel Products, Sponge
Iron, Billets / Blooms and Melting and Misroll. In addition, the Company
generates power for its captive consumption. |
|
|
|
|
No. of Employees
: |
Not Divulged |
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 5200000 |
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|
|
|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Exist |
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Comments : |
Subject was incorporated in March 2002. It is promoted by Shyam Sundar
Beriwala of Kolkata. The company is currently engaged in manufacturing of TMT
bars and its manufacturing facility located at Durgapur, West Bengal. The
company sells its TMT bars under the brand name of “Shyam TMT”. The company possesses a decent profile marked by decent networth base,
fair liquidity, improvement in profitability and gearing ratios during FY
2014. The rating also takes into consideration experienced promoter with a
long track record of operations, strategic location of the manufacturing unit,
established brand and diversified clientele. Trade relations are fair. Business is active. Payments are reported as
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 |
Have moderate degree of safety and carry moderate credit risk. |
|
Date |
18.03.2015 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities = A3 |
|
Rating Explanation |
Have moderate degree of safety and carry higher credit risk. |
|
Date |
18.03.2015 |
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 DENIED BY
|
Name : |
Ms. Monika Lohia |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-9007016265 |
|
Date : |
01.10.2015 |
LOCATIONS
|
Registered Office : |
EN 32, Sector – V, Salt Lake City, Kolkata – 700091, West
Bengal,
India |
|
Tel. No.: |
91-33-40074007 |
|
Mobile No.: |
91-9007016265 (Ms. Monika) |
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Fax No.: |
91-33-40074010 |
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E-Mail : |
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Website : |
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Manufacturing Facilities : |
Located at Durgapura and Howrah, West Bengal, India |
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Branches : |
Located At :
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DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Govind beriwal |
|
Designation : |
Whole-time director |
|
Address : |
CF – 370 , Salt Lake City, Sector l, Kolkata – 700064, West Bengal, India |
|
Date of Birth/Age : |
09.03.1963 |
|
Date of Appointment : |
01.04.2005 |
|
Voter ID No. : |
WB-20-139-732024 |
|
DIN No. : |
00006100 |
|
|
|
|
Name : |
Mr. Purushottam Beriwala |
|
Designation : |
Director |
|
Address : |
CJ - 222, Salt Lake City, Sector ll, Kolkata – 700091,
West Bengal, India |
|
Date of Birth/Age : |
08.08.1960 |
|
Date of Appointment : |
08.03.2002 |
|
Voter ID No. : |
WB-20-139-732515 |
|
DIN No. : |
00006215 |
|
|
|
|
Name : |
Mr. Lalit Beriwala |
|
Designation : |
Whole-time director |
|
Address : |
IB - 185, Salt Lake City, Sector lll, Kolkata – 700106,
West Bengal, India |
|
Date of Birth/Age : |
14.12.1968 |
|
Date of Appointment : |
08.03.2002 |
|
Voter ID No. : |
WB-20-139-732023 |
|
DIN No. : |
00006198 |
|
|
|
|
Name : |
Mr. Ravi Beriwala |
|
Designation : |
Director |
|
Address : |
BF – 218, Salt Lake City, Sector l, Kolkata – 700064, West
Bengal, India |
|
Date of Birth/Age : |
06.06.1970 |
|
Date of Appointment : |
20.03.2009 |
|
DIN No. : |
00006230 |
|
|
|
|
Name : |
Mr. Nikunj Beriwal |
|
Designation : |
Whole Time Director |
|
Address : |
136, Jessore Road, Avani Oxford, Flat -4B, Lobby -1, Block -4, Kolkata
- 700055, West Bengal, India |
|
Date of Birth/Age : |
23.04.1969 |
|
Date of Appointment : |
02.09.2014 |
|
DIN No. : |
00529975 |
|
|
|
|
Name : |
Komal Surana |
|
Designation : |
Director |
|
Address : |
857, Motilal Gupta Road, Flat- 2 G, PS Alankar, Sodepur Bazar,,
Kolkata, 700008, West Bengal, India |
|
Date of Birth/Age : |
21.10.1988 |
|
Date of Appointment : |
30.09.2014 |
|
DIN No. : |
06983562 |
|
|
|
|
Name : |
Mr. Santinath Sarkar |
|
Designation : |
Additional Director |
|
Address : |
181.2, Nagendra Nath Road,, Jugipara, South Dum Dum, North Parganas -
700028, West Bengal, India |
|
Date of Appointment : |
15.10.2014 |
|
DIN No. : |
06996438 |
KEY EXECUTIVES
|
Name : |
Mr. Anju Moonka Agarwal |
|
Designation : |
Secretary |
|
Address : |
14, Narasingha Bose lane, 2nd, Howrayh - 711102, West
Bengal, India |
|
Date of Birth/Age : |
14.05.1983 |
|
Date of Appointment : |
20.04.2013 |
|
PAN No.: |
AHOPM8424F |
|
|
|
|
Name : |
Mr. Deepak Chowdhary |
|
Designation : |
Manager |
|
Address : |
RC-55, Bengal Ambuja City Centre, Durgapur, Burdwan - 713216, West
Bengal, India |
|
Date of Appointment : |
02.09.2014 |
|
PAN No.: |
ACRPC4327K |
|
|
|
|
Name : |
Ms. Monika Lohia |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS
As on 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Shyam Sunder Beriwala |
|
367100 |
|
Lalit Beriwala |
|
312650 |
|
Purushottam Beriwala |
|
283050 |
|
Govind Beriwala |
|
248650 |
|
Ravi Beriwala |
|
332550 |
|
Brijesh Beriwala |
|
328050 |
|
Manish Beriwala |
|
387850 |
|
Sriram Beriwala |
|
227500 |
|
Maya Devi Beriwala |
|
27500 |
|
Puspa Devi Beriwala |
|
128300 |
|
Manju Lata Beriwala |
|
15000 |
|
Vineeta Beriwala |
|
15000 |
|
Anju Beriwala |
|
15000 |
|
Bina Beriwala |
|
281000 |
|
Jyoti Beriwala |
|
110300 |
|
Shyam Sunder Beriwala and Others |
|
91500 |
|
Lalit Beriwala (HUF) |
|
234850 |
|
Ravi Beriwala (HUF) |
|
214950 |
|
Brijesh Beriwala (HUF) |
|
219450 |
|
Manish Beriwala (HUF) |
|
174550 |
|
Purushottam Beriwala (HUF) |
|
358450 |
|
Govind Beriwala (HUF) |
|
363550 |
|
Vanlila Consultants Private Limited (HUF), India |
|
408200 |
|
Suket Beriwala |
|
200000 |
|
Yashashvi Securities Private Limited |
|
630000 |
|
Trumax Ispat Private Limited |
|
525000 |
|
Total |
|
6500000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Bodies corporate |
24.05 |
|
Directors or relatives of Directors |
50.45 |
|
Other top fifty shareholders |
25.50 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in the business of manufacturing of
various iron & steel products including Hot Rolled Steel Products, Sponge
Iron, Billets / Blooms and Melting and Misroll. In addition, the Company
generates power for its captive consumption. |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
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 : |
Not Divulged |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
Singhi and Company Chartered Accountants |
|
Address : |
1B, Old Post office Street, Kolkata – 700001, West Bengal, India |
|
PAN No.: |
AASFS9578D |
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Memberships : |
-- |
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Collaborators : |
-- |
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Subsidiary Company
: |
· Shyamsteel Energy Private Limited CIN No.: U40105WB2010PTC154125 · Sova Ispat Limited CIN No.: U28999WB1991PLC051823 · Shyamsteel International Pte. Limited · Shyam Steel Metallics Private Limited, India CIN No.: U27100WB2007PTC115235 · Shyam International Pte. Limited, Singapore CIN No.: U27100WB2007PTC115235 |
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|
Enterprises
which are owned, or
have significant influence of or are
partners with Key management personnel and their relatives : |
CIN No.: U51909WB2009PTC135163
CIN No.: U67120WB2006PTC112242
CIN No.: U74140WB2004PTC099555
CIN No.: U24121WB1975PTC030089
CIN No.: U65999WB1985PTC039875
CIN No.: U70101WB2006PTC109019
CIN No.: U70101WB2006PTC110736
CIN No.: U70101WB2006PTC110778
CIN No.: U45400WB2007PTC116138
CIN No.: U27109WB2005PTC103291 |
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Others |
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CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8000000 |
Equity Shares |
Rs.10/- each |
Rs.80.000 Million |
|
2000000 |
Preference shares |
Rs.10/- each |
Rs.20.000 Million |
|
|
Total |
|
Rs.100.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6500000 |
Equity Shares |
Rs.10/- each |
Rs. 65.000 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 |
65.000 |
65.000 |
65.000 |
|
(b) Reserves & Surplus |
1,758.521 |
1,655.270 |
1,904.597 |
|
(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) |
1,823.521 |
1,720.270 |
1,969.597 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
781.985 |
1,048.903 |
805.771 |
|
(b) Deferred tax liabilities (Net) |
34.205 |
34.205 |
137.885 |
|
(c) Other long term
liabilities |
359.168 |
307.490 |
49.311 |
|
(d) long-term
provisions |
13.291 |
11.991 |
12.281 |
|
Total Non-current
Liabilities (3) |
1,188.649 |
1,402.589 |
1,005.248 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
922.934 |
1,691.494 |
1,785.800 |
|
(b) Trade
payables |
359.328 |
672.290 |
426.661 |
|
(c) Other
current liabilities |
486.665 |
397.161 |
485.746 |
|
(d) Short-term
provisions |
1.259 |
1.225 |
13.198 |
|
Total Current
Liabilities (4) |
1,770.186 |
2,762.170 |
2,711.405 |
|
|
|
|
|
|
TOTAL |
4,782.356 |
5,885.029 |
5,686.250 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1,612.171 |
1,602.314 |
1,129.939 |
|
(ii)
Intangible Assets |
0.423 |
3.574 |
6.494 |
|
(iii)
Capital work-in-progress |
43.721 |
153.923 |
393.625 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
50.000 |
50.919 |
57.029 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
5.587 |
|
(d) Long-term Loan and Advances |
151.154 |
127.499 |
139.819 |
|
(e) Other
Non-current assets |
6.649 |
1.309 |
0.000 |
|
Total Non-Current
Assets |
1,864.118 |
1,939.538 |
1,732.493 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
518.976 |
611.748 |
1,028.254 |
|
(c) Trade
receivables |
1,515.041 |
2,452.903 |
2,138.145 |
|
(d) Cash
and cash equivalents |
140.055 |
62.011 |
45.931 |
|
(e)
Short-term loans and advances |
553.408 |
638.846 |
618.233 |
|
(f) Other
current assets |
190.758 |
179.983 |
123.194 |
|
Total
Current Assets |
2,918.238 |
3,945.491 |
3,953.757 |
|
|
|
|
|
|
TOTAL |
4,782.356 |
5,885.029 |
5,686.250 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
8,785.880 |
11,395.111 |
10,960.684 |
|
|
|
|
Other Income |
104.015 |
24.785 |
16.837 |
|
|
|
|
TOTAL (A) |
8,889.895 |
11,419.896 |
10,977.521 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Cost of Materials Consumed |
7,076.392 |
8,816.283 |
8,228.686 |
|
|
|
|
Purchase of Stock-in-trade |
63.805 |
922.616 |
78.854 |
|
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
28.589 |
114.312 |
47.356 |
|
|
|
|
Employee Benefits Expenses |
139.323 |
166.350 |
213.403 |
|
|
|
|
Other Expenses |
963.162 |
1,208.693 |
1,643.132 |
|
|
|
|
TOTAL (B) |
8,271.271 |
11,228.254 |
10,211.431 |
|
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
618.624 |
191.642 |
766.090 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
397.856 |
430.320 |
394.350 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
220.768 |
(238.678) |
371.740 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION (F) |
135.373 |
108.746 |
97.650 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
85.395 |
(347.424) |
274.090 |
||
|
|
|
|
|
|
||
|
Less |
TAX (H) |
(0.425) |
0.005 |
65.581 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
85.820 |
(347.429) |
208.509 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
Export Earnings |
272.449 |
3974.774 |
29.853 |
|
|
|
TOTAL EARNINGS |
272.449 |
3974.774 |
29.853 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Raw
Material |
211.803 |
211.990 |
56.524 |
|
|
|
|
Stores and spares |
2.312 |
1.776 |
11.885 |
|
|
|
|
Interest on Foreign
Currency Loan |
9.221 |
2.856 |
0.000 |
|
|
|
|
Employee Related expenses |
2.901 |
2.775 |
0.000 |
|
|
|
|
Tour and travelling |
0.067 |
0.157 |
1.084 |
|
|
|
|
Membership and
subscription |
0.611 |
0.119 |
0.191 |
|
|
|
TOTAL IMPORTS |
226.915 |
219.673 |
69.684 |
||
|
|
|
|
|
|
||
|
|
Earnings /
(Loss) Per Share (Rs.) |
13.20 |
53.45 |
32.08 |
||
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
291.508 |
218.532 |
321.178 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operation |
1470.125 |
686.463 |
318.969 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
0.98 |
(3.05) |
1.90 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
7.04 |
1.68 |
6.99 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.82 |
(6.12) |
5.24 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
(0.20) |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.09 |
1.72 |
1.48 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.65 |
1.43 |
1.46 |
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 |
65.000 |
65.000 |
65.000 |
|
Reserves & Surplus |
1904.597 |
1655.270 |
1758.521 |
|
Net
worth |
1969.597 |
1720.270 |
1823.521 |
|
|
|
|
|
|
long-term borrowings |
805.771 |
1048.903 |
781.985 |
|
Short term borrowings |
1785.800 |
1691.494 |
922.934 |
|
Current maturities of
long-term debts |
321.178 |
218.532 |
291.508 |
|
Total
borrowings |
2912.749 |
2958.929 |
1996.427 |
|
Debt/Equity
ratio |
1.479 |
1.720 |
1.095 |
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 |
10,960.684 |
11,395.111 |
8,785.880 |
|
|
|
3.964 |
(22.898) |
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 |
10,960.684 |
11,395.111 |
8,785.880 |
|
Profit/(Loss) |
208.509 |
(347.429) |
85.820 |
|
|
1.90% |
(3.05%) |
0.98% |
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 |
Yes |
|
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
|
CASE STATUS : PENDING STATUS OF TEM APO (APOT) 215 OF 2012 ASSAM BENGAL
ROADWAYS LIMITED
VS. SHYAM STEEL
INDUSTRIES LIMITED PET’S ADV. :
SUNITA AGARWAL RES’S ADV.
: COURT NO. :
19 LAST LISTED ON : MONDAY,
MAY 07, 2012 CATEGORY :
NO CATEGORY MENTIONED
CASE UPDATED ON : MONDAY, APRIL30, 2012 |
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
SHORT TERM BORROWINGS |
|
|
|
Intercorporate borrowings |
0.609 |
1.200 |
|
Loans and advances from related parties |
9.795 |
17.168 |
|
Total |
10.404 |
18.368 |
OPERATIONAL REVIEW
The Company is engaged in the business of manufacturing of various iron and steel products including Hot Rolled Steel Products, Sponge Iron, Billets / Blooms and Melting and Misroll. In addition, the Company generates power for its captive consumption. During the year, the Company’s financial performance has improved by leaps and bounds in comparison to last year.
The Company continues its journey to serve its customers in a more efficient, cost-effective, reliable and environment friendly manner, while which is gaining bolstering its market position in the industry. The Company’s products meet stringent quality parameters market share comprising of private, institutional, non-institutional and government bodies.
During the year, the earning before interest, depreciation, exceptional items and taxes (EBITDA) for the company is Rs.618.600 Million, as compared to Rs.191.600 Million in previous financial year 2012-13. Similarly, the Net Worth and EPS of the Company during the year has escalated to Rs.1823.500 Million and Rs.13.20 respectively. In order to achieve higher operational efficiency the company has disposed off the rolling mill unit located at Howrah, which has facilitated in achieving higher profit despite of a decrease in turnover.
FUTURE PLAN OF
ACTION
The development work will continue to support high-performance in the rod and bar-making process. Efforts to substitute expensive consumables will also continue.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10420779 |
21/03/2015 * |
350,000,000.00 |
INDIAN OVERSEAS BANK |
MID-CORPORATE BRANCH,, 3, CHOWRINGHEE APPROACH, KOLKATA, WEST BENGAL - 700072, INDIA |
C50481712 |
|
2 |
10340338 |
29/08/2012 * |
165,500,000.00 |
STATE BANK OF HYDERABAD |
COMMERCIAL BRANCH, 83, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B59492926 |
|
3 |
10331818 |
18/01/2012 |
250,000,000.00 |
STATE BANK OF PATIALA |
8, CAMAC STREET, KOLKATA, WEST BENGAL - 700017, INDIA |
B30574990 |
|
4 |
10322525 |
26/12/2011 * |
200,000,000.00 |
L & T FINANCE LIMITED |
L&T
HOUSE,, BALLARD ESTATE,, MUMBAI, MAHARASHTRA |
B28538908 |
|
5 |
10295263 |
27/06/2011 |
400,000,000.00 |
ALLAHABAD BANK |
INDUSTRIAL
FINANCE BRANCH, 17, R. N. MUKHERJEE RO |
B16218257 |
|
6 |
10165250 |
11/11/2013 * |
4,011,600,000.00 |
STATE BANK OF INDIA (LEAD BANK) |
COMMERCIAL BRANCH, KOLKATA, 24, PARK STREET, KOLKATA, WEST BENGAL - 700016, INDIA |
B90495763 |
|
7 |
10110112 |
29/03/2014 * |
292,500,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, KOLKATA, 24, PARK STREET, KOLKATA, WEST BENGAL - 700016, INDIA |
C01190461 |
|
8 |
90246512 |
28/02/2015 * |
3,661,600,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, KOLKATA, 24, PARK STREET, KOLKATA, WEST BENGAL - 700016, INDIA |
C48910079 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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.65.74 |
|
|
1 |
Rs.99.53 |
|
Euro |
1 |
Rs.73.79 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Analysis Done by
: |
RSM |
|
|
|
|
Report Prepared
by : |
JYTK |
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 |
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 |
|
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.