MIRA
INFORM REPORT
|
Report No. : |
345667 |
|
Report Date : |
19.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
INTERNATIONAL LOHA BHANDAR PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Y-183, Loha
Mandi, Naraina, |
|
Tel. No.: |
91-129-4030256 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
18.01.2006 |
|
|
|
|
Com. Reg. No.: |
55-144988 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.26.178 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27110DL2006PTC144988 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCI4637F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Importer and Trader of Iron and Steel etc. |
|
|
|
|
No. of Employees
: |
15 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a private limited company engaged in trading of HR sheets
and coils. The company was incorporated in 2006 and is promoted by Mr. Dharmender Goyal, who has been
engaged in the trading business since 1994. The rating on company reflects extensive experience of the promoter’s
and long established track record of operations. Rating further take
consideration company’s satisfactory financial risk profile characterized by
low leverage, comfortable debt coverage indicators along with comfortable
liquidity position with sound profit during the year under review. The rating strengths is partially offsets by competitive and
fragmented nature of the steel trading industry which exerts pressures on
company’s margin and its susceptibility to adverse movements in raw material
prices. Moreover, the steel trading industry in intensely competitive and
fragmented in nature, which exerts pressure on the profitability of the
players in the industry and, as the industry is inherently cyclical, the
company is exposed to price variation risks. However, trade relations are reported to be fair. Business is active.
Payment terms are slow but 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 |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2015.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Natish Gupta |
|
Designation : |
General Manager in Finance |
|
Contact No.: |
91-9811969796 |
|
Date : |
16.10.2015 |
LOCATIONS
|
Registered Office : |
Y-183, Loha
Mandi, Naraina, New Delhi
– 110028, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9811969796 (Mr. Natish Gupta) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Factory : |
B-272, Nehru Ground, NIT, Faridabad –
121001, Haryana, India |
|
Tel. No.: |
91-129-4030256 |
/DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Dharmender Goyal |
|
Designation : |
Director |
|
Address : |
3/14, Jai Dev Park, East Punjabi Bagh, New
Delhi – 110026, India |
|
Date of Appointment : |
18.01.2006 |
|
DIN No.: |
00879962 |
|
|
|
|
Name : |
Mr. Rohit Goel |
|
Designation : |
Director |
|
Address : |
3/14, Jai Dev Park, East Punjabi Bagh, New
Delhi – 110026, India |
|
Date of Appointment : |
18.01.2006 |
|
DIN No.: |
00880124 |
KEY EXECUTIVES
|
Name : |
Mr. Natish Gupta |
|
Designation : |
General Manager in Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
SHAREHOLDERS DETAILS FILE ATTACH
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
96.20 |
|
Other top fifty shareholders |
3.80 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Importer and Trader of Iron and Steel etc. |
|
|
|
|
Products : |
Iron and Steel |
|
|
|
|
Brand Names : |
Not Available |
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|
|
|
Agencies Held : |
Not Available |
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|
|
|
Exports : |
Not Available |
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Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
China |
|
|
|
|
Terms : |
|
|
Selling : |
Credit and Depend |
|
|
|
|
Purchasing : |
Credit and Depend |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers, Retailers and Manufacturer |
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No. of Employees : |
15 (Approximately) |
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Bankers : |
· HDFC Bank Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India · Canara Bank, Tikona Park, Faridabad - 121001, Haryana, India · ICICI Bank, S-13, 2nd Floor, Green Park, New Delhi - 110016, India |
|
Auditors : |
|
|
Name : |
B Goyal Associates Chartered Accountants |
|
Address : |
First Floor, 1738/55, Naiwala, Karol Bagh, New Delhi, India |
|
Tel. No.: |
AAFFB0349G |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Enterprises which are
owned, or have significant influence of or are partners with Key management
personnel and their relatives : |
· Nohar Chand and Sons Steels Private Limited [U27106DL2005PTC142655] · Nohar Chand Loha Bhandar Private Limited [U27100DL2012PTC235836] |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,000,000 |
Equity Shares |
Rs.10/- each |
Rs.40.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,617,955 |
Equity Shares |
Rs.10/- each |
Rs.26.180 Million |
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,000,000 |
Equity Shares |
Rs.10/- each |
Rs.40.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
26,17,755 |
Equity Shares |
Rs.10/- each |
Rs.26.178 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 |
26.178 |
26.178 |
26.178 |
|
(b) Reserves &
Surplus |
111.384 |
105.209 |
98.673 |
|
(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) |
137.562 |
131.387 |
124.851 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
119.699 |
132.118 |
154.262 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
119.699 |
132.118 |
154.262 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
2.646 |
7.314 |
20.848 |
|
(c) Other current
liabilities |
150.587 |
175.686 |
143.164 |
|
(d) Short-term provisions |
2.547 |
2.532 |
2.405 |
|
Total Current Liabilities
(4) |
155.780 |
185.532 |
166.417 |
|
|
|
|
|
|
TOTAL |
413.041 |
449.037 |
445.530 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
27.893 |
27.139 |
7.327 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.645 |
0.000 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
48.348 |
47.786 |
46.114 |
|
(c) Deferred tax assets
(net) |
0.067 |
0.016 |
0.046 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
76.308 |
75.586 |
53.487 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
111.813 |
79.695 |
93.838 |
|
(c) Trade receivables |
208.416 |
255.417 |
269.825 |
|
(d) Cash and cash
equivalents |
1.302 |
1.895 |
23.409 |
|
(e) Short-term loans and
advances |
0.000 |
0.000 |
0.000 |
|
(f) Other current assets |
15.202 |
36.444 |
4.971 |
|
Total Current Assets |
336.733 |
373.451 |
392.043 |
|
|
|
|
|
|
TOTAL |
413.041 |
449.037 |
445.530 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
NA |
NA |
NA |
|
|
Other Income |
NA |
NA |
NA |
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
8.191 |
8.020 |
8.018 |
|
|
|
|
|
|
|
Less |
TAX |
2.496 |
2.195 |
2.395 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
5.695 |
5.825 |
5.623 |
|
|
|
|
|
|
|
|
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
31.611 |
25.076 |
25.324 |
|
|
|
|
|
|
|
Add |
Other addition to
reserves |
3.104 |
3.180 |
0.000 |
|
|
|
|
|
|
|
Less |
Other deduction to
reserves |
2.624 |
2.470 |
5.871 |
|
|
|
|
|
|
|
|
BALANCE CARRIED TO THE
B/S |
37.786 |
31.611 |
25.076 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
2.18 |
2.23 |
NA |
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 |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
37.619 |
49.159 |
(40.595) |
|
Net cash flows from (used in) operating activities |
35.567 |
47.466 |
(42.095) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.25 |
2.00 |
2.01 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06 |
0.06 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.87 |
1.01 |
1.24 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.16 |
2.01 |
2.36 |
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 |
26.178 |
26.178 |
26.178 |
|
Reserves & Surplus |
98.673 |
105.209 |
111.384 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
124.851 |
131.387 |
137.562 |
|
|
|
|
|
|
long-term borrowings |
154.262 |
132.118 |
119.699 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
154.262 |
132.118 |
119.699 |
|
Debt/Equity ratio |
1.236 |
1.006 |
0.870 |
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 |
No |
|
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
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 |
No |
|
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 |
No |
|
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 |
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs. in Million) |
31.03.2013 (Rs. in Million) |
|
Long-term
Borrowings |
|
|
|
Deposits from directors |
40.240 |
36.326 |
|
Deposits from shareholders |
79.459 |
95.792 |
|
Total |
119.699 |
132.118 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10308645 |
08/06/2015 * |
325,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI - 400013, MAHARASHTRA, INDIA |
C65147621 |
* Date of charge modification
FIXED ASSETS
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· computer
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.64.96 |
|
|
1 |
Rs.100.53 |
|
Euro |
1 |
Rs.73.99 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
4 |
|
--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 |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
44 |
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.