MIRA INFORM REPORT
|
Report No. : |
346728 |
|
Report Date : |
28.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
KEJRIWAL CASTINGS LIMITED (w.e.f. 22.08.2008) |
|
|
|
|
Formerly Known
As : |
KEJRIWAL
CASTINGS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Chatterjee International Centre, 33A Chowringhee Road, 11th
Floor, Suite # 11, Kolkata-700071, West Bengal |
|
Tel. No.: |
91-33-22262312 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
19.05.2005 |
|
|
|
|
Com. Reg. No.: |
21-103224 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.40.449
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27310WB2005PLC103224 |
|
|
|
|
IEC No.: |
0205030033 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALK02522C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCK7422R |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Importer of Ductile, Cast Iron Products. |
|
|
|
|
No. of Employees
: |
60 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject was established as partnership concern in the year 1991, later
in the year 2005 it got converted into private limited company and
subsequently into public limited company. The company has healthy scale of operations and achieved sales
turnover of 19% year of year to Rs.545.605 million as against Rs.459.208
million in the previous year. The company has decent financial base, comfortable capital structure
marked by adequate networth position. The company has commissioned a new induction furnace in 2013 which has
contributed to production efficiency. Rating derives strength from experience
of the company’s promoters in the iron casting business and long business
track record. Trade relations are fair. Business is active. Payments are 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 |
ICRA |
|
Rating |
Fund based limit= BB+ |
|
Rating Explanation |
Inadequate credit quality and high credit
risk. |
|
Date |
November, 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Cash credit= A4+ |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
November, 2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. Pawan Jalan |
|
Designation : |
Director |
|
Contact No.: |
91-9831422721 |
|
Date : |
23.10.2015 |
LOCATIONS
|
Registered Office : |
Chatterjee International Centre, 33A Chowringhee Road, 11th
Floor, Suite # 11, Kolkata-700071, West Bengal, India |
|
Tel. No.: |
91-33-22262312 / 2313 / 3145 |
|
Mobile No.: |
91-9831422721 (Mr. Pawan) |
|
Fax No.: |
91-33-22262314 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
NH 6, Chamrail, Near Kona Power Sub-Station, Howrah, West Bengal,
India |
DIRECTORS
AS ON 26.09.2014
|
Name : |
Mr. Sanjay Kejriwal |
|
Designation : |
Managing Director |
|
Address : |
IB 67, Salt Lake, Sector III, Kolkata-700106, West Bengal, India |
|
Date of Birth/Age : |
16.11.1966 |
|
Date of Appointment : |
19.05.2005 |
|
Din No.: |
00389925 |
|
|
|
|
Name : |
Mr. Sandeep Kejriwal |
|
Designation : |
Managing Director |
|
Address : |
IB 67, Salt Lake, Sector III, Kolkata-700106, West Bengal, India |
|
Date of Birth/Age : |
06.05.1968 |
|
Date of Appointment : |
19.05.2005 |
|
Din No.: |
00389583 |
|
|
|
|
Name : |
Mr. Rajeev Kejriwal |
|
Designation : |
Managing Director |
|
Address : |
IB 67, Salt Lake, Sector III, Kolkata-700106, West Bengal, India |
|
Date of Birth/Age : |
08.09.1970 |
|
Date of Appointment : |
16.07.2008 |
|
Din No.: |
00389854 |
|
|
|
|
Name : |
Mr. Pawan Jalan |
|
Designation : |
Whole Time Director |
|
Address : |
31 B, Lake Place, Tollygunge, Kolkata-700029, West Bengal, India |
|
Date of Birth/Age : |
21.04.1970 |
|
Date of Appointment : |
30.03.2009 |
|
Din No.: |
00738545 |
|
|
|
|
Name : |
Mr. Madhur Agarwal |
|
Designation : |
Additional Director |
|
Address : |
Madhur Agarwal, Jindal House, 8A, Alipore Road, Flat-24, Kolkata -
700027, West Bengal, India |
|
Date of Appointment : |
01.04.2015 |
|
Din No.: |
00459816 |
|
|
|
|
Name : |
Mr. Pawan Kumar Dhanuka |
|
Designation : |
Additional Director |
|
Address : |
P-295 C.I.T Road, Kolkata - 700085, West Bengal, India |
|
Date of Appointment : |
01.04.2015 |
|
Din No.: |
01536841 |
MAJOR SHAREHOLDERS
AS ON 26.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Sanjay Kejriwal |
|
474500 |
|
Sandeep Kejriwal |
|
467000 |
|
Kejriwal Projects Private Limited, India |
|
2004500 |
|
Kejriwal Infrastructures Private Limited, India |
|
553000 |
|
Kejriwal Stocks and Shares Private Limited, India |
|
545850 |
|
|
|
|
|
Total |
|
4044850 |
LIST OF ALLOTTEES
AS ON 24.08.2015
|
Names of Allottee |
|
No. of Shares |
|
Gautam Narsaria |
|
137000 |
|
Ruchika Narsaria |
|
46000 |
|
|
|
|
|
Total |
|
183000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 26.09.2014
|
Category |
Percentage |
|
Bodies corporate |
76.72 |
|
Directors or relatives of Directors |
23.28 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Ductile, Cast Iron Products. |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
|
|
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Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
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|
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Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
Middle East |
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|
|
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Terms : |
|
|
Selling : |
L/C, Cheque and Credit |
|
|
|
|
Purchasing : |
L/C, Cheque and Credit |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Contractors
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No. of Employees : |
60 (Approximately) |
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Bankers : |
· Axis Bank Limited, Corporate Banking Branch (CBB), 1, Shakespeare Sarani, Ac Market, 3rd Floor, Kolkata - 700071, West Bengal, India · Standard Chartered Bank, 41, Chowringhee Road, Kolkata - 700071, West Bengal, India |
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Facilities : |
Long Term Borrowings 1) Term Loans of Rs.13.821 million is outstanding balance of loan from Kotak Mahindra Bank Limited‐ Park Street Branch against hypothecation of Plant and Machinery and Factory land of the company, carrying interest @ 13% p.a. (a) Term Loan outstanding balance of Rs.10.918 million payable upto 05.09.2016 in monthly Installment of Rs 427 thousand (b) Term Loan outstanding balance of Rs.2.903 million payable upto 05.11.14 in monthly installments of Rs 381 thousand 2) Term Loan of Rs.15.972 million is outstanding balance of loan from standard Chartered Bank‐N.S. Road Branch against hypothecation of office Flat Bearing No. 6 and 8 located on 11th floor,33A, J.L. Nehru Road,Kolkata‐71,carrying interest @ 13% p.a. (a) Term Loan outstanding balance of Rs.11.699 million payable upto 2029 in monthly installments of Rs 155 thousand (b) Term Loan outstanding balance of Rs.4.273 million payable upto 2027 in monthly installments of Rs 55 thousand 3) Term loan outstanding balance of Rs.0.531 million taken from Tata Capital financial services Limited against hypo of machinery payable upto 21.06.2015 in monthly instalment of Rs.38 thousand carrying interest 12% p.a. Short Term Borrowings 1)
Other
secured loan includes packing credit loan which is to be repaid by 24‐08.2014 2)
Working
Capital Loan is secured by hypothecation of Current and moveable assets
including moveable fixed assets. |
|
Auditors : |
|
|
Name : |
S.N. Kedia and Associates Chartered Accountants |
|
Address : |
46, B.B. Ganguly Street, 4th Floor, Room No. 11, Kolkata –
700012, West Bengal, India |
|
PAN No: |
ACFFS9184A |
|
|
|
|
Memberships : |
Not Divulged |
|
|
|
|
Collaborators : |
Not Divulged |
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|
|
|
Significant
Influence : |
· Kejriwal Pipes, Fittings and Valves · Indom Exports Limited · KA Wires Private limited · Kejriwal Projects Private Limited · Kejriwal Infrastructure Private Limited · Kejriwal Pipes, Fittings and Valves Private Limited · Kejriwal Stock and Shares Private Limited |
|
|
|
|
Relative of KMP : |
· Sandip Kejriwal(HUF) · Sanjay Kejriwal(HUF) · Rajeev Kejriwal(HUF) |
CAPITAL STRUCTURE
AFTER 26.09.2014
Authorised Capital: Rs.80.000 Million
Issued, Subscribed & Paid-up Capital: Rs.45.010
Million
AS ON 26.09.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6000000 |
Equity Shares |
Rs.10/- each |
Rs.60.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4044850 |
Equity Shares |
Rs.10/- each |
Rs.40.449 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 |
40.449 |
40.449 |
39.319 |
|
(b) Reserves & Surplus |
197.581 |
188.141 |
180.083 |
|
(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) |
238.030 |
228.590 |
219.402 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
37.920 |
37.053 |
55.988 |
|
(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) |
37.920 |
37.053 |
55.988 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
179.249 |
161.382 |
139.480 |
|
(b) Trade
payables |
49.086 |
35.686 |
33.576 |
|
(c) Other
current liabilities |
24.025 |
20.815 |
1.550 |
|
(d) Short-term
provisions |
32.932 |
25.309 |
15.310 |
|
Total Current
Liabilities (4) |
285.292 |
243.192 |
189.916 |
|
|
|
|
|
|
TOTAL |
561.242 |
508.835 |
465.306 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
185.836 |
191.298 |
136.183 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
47.792 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
9.777 |
12.258 |
18.943 |
|
(c) Deferred tax assets (net) |
1.202 |
1.226 |
0.069 |
|
(d) Long-term Loan and Advances |
1.659 |
8.329 |
4.836 |
|
(e) Other
Non-current assets |
0.000 |
0.039 |
0.058 |
|
Total Non-Current
Assets |
198.474 |
213.150 |
207.881 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
215.345 |
185.482 |
113.025 |
|
(c) Trade
receivables |
75.681 |
78.186 |
110.024 |
|
(d) Cash
and cash equivalents |
37.020 |
16.501 |
22.617 |
|
(e)
Short-term loans and advances |
34.722 |
15.516 |
11.759 |
|
(f) Other current
assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
362.768 |
295.685 |
257.425 |
|
|
|
|
|
|
TOTAL |
561.242 |
508.835 |
465.306 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
501.264 |
423.579 |
422.453 |
|
|
|
|
Other Income |
1.811 |
3.152 |
2.914 |
|
|
|
|
TOTAL (A) |
503.075 |
426.731 |
425.367 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Cost of Materials Consumed |
255.517 |
231.773 |
187.339 |
|
|
|
|
Purchase of Stock-in-trade |
20.210 |
57.906 |
70.709 |
|
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
(34.702) |
(76.128) |
(37.848) |
|
|
|
|
Employee Benefits Expenses |
8.131 |
6.692 |
4.599 |
|
|
|
|
Other Expenses |
189.160 |
158.712 |
161.949 |
|
|
|
|
TOTAL (B) |
438.316 |
378.955 |
386.748 |
|
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
64.759 |
47.776 |
38.619 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
31.981 |
27.557 |
19.586 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
32.778 |
20.219 |
19.033 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION (F) |
19.054 |
12.284 |
11.967 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
13.724 |
7.935 |
7.066 |
||
|
|
|
|
|
|
||
|
Less |
TAX (H) |
4.283 |
0.397 |
2.207 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
9.441 |
7.538 |
4.859 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Raw Materials |
17.179 |
0.000 |
NA |
|
|
|
|
Components and Spare parts |
1.867 |
2.093 |
NA |
|
|
|
TOTAL IMPORTS |
19.046 |
2.093 |
NA |
||
|
|
|
|
|
|
||
|
|
Earnings Per
Share (Rs.) |
2.33 |
1.96 |
1.24 |
||
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
520.000 |
|
|
|
|
[Market Fluctuation] |
The above information has been parted by Mr. Pawan
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
8.904 |
15.009 |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
1.88 |
1.78 |
1.15 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
12.92 |
11.28 |
9.14 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
2.49 |
1.60 |
1.77 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06 |
0.03 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.95 |
0.93 |
0.89 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.27 |
1.22 |
1.36 |
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 |
39.319 |
40.449 |
40.449 |
|
Reserves & Surplus |
180.083 |
188.141 |
197.581 |
|
Net
worth |
219.402 |
228.590 |
238.030 |
|
|
|
|
|
|
long-term borrowings |
55.988 |
37.053 |
37.920 |
|
Short term borrowings |
139.480 |
161.382 |
179.249 |
|
Total
borrowings |
195.468 |
198.435 |
217.169 |
|
Debt/Equity
ratio |
0.891 |
0.868 |
0.912 |
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 |
422.453 |
423.579 |
501.264 |
|
|
|
0.267 |
18.340 |
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
|
422.453 |
423.579 |
501.264 |
|
Profit |
4.859 |
7.538 |
9.441 |
|
|
1.15% |
1.78% |
1.88% |
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
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% |
Yes |
|
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
REVIEW OF OPERATIONS:
Despite a challenging economic environment, in particular for manufacturing sector, during the year, the company has achieved a gross sales growth of 19% yoy to Rs 545.605 million as against Rs 459.208 million in the previous year. The EBIDTA margin for the year is Rs 64.759 million as against Rs 47.776 million which is 11% as against 9.45% as compared with previous year, the improvement was because of continuous efforts of the management in cost reduction through efficiency and research at the plant and continuous automation of production process.
The company has commissioned a new induction furnace in 2013, which has contributed to production efficiency both qualitative and quantitatively, saving in energy cost and being environment friendly. However the charge of depreciation for the year was Rs 19.054 million as against Rs 12.284 million in the previous year .i.e.56% increase in depreciation cost due to such capital expenditure in previous year.
The Profit before Tax for 2013-14 was Rs 13.724 million as against Rs 7.935 million in 2012-13. The Profit after Tax is Rs 9.441 million in 2013-14 as against Rs 7.538 million in the previous year because of high Tax incidence in the current year. The overall performance is satisfactorily.
The company continues to maintain its dominant position in International market too and is currently service more than 30 countries. The constant endeavor to improve quality in product and service is reflected in approvals from the Gulf markets .i.e. Qatar and Jordan and in South Asia .i.e. Sri Lanka, which reflects high degree of acceptability of the company’s product portfolio. We are confident of increasing our geographical reach to many more countries and regions where we are in the process of getting our products approved. The directors acknowledge and thank the constant effort of marketing team for the same.
FUTURE PROSPECTS:
The company is Most Experienced and Largest Manufacturers of Ductile Iron Fittings, Valves and Other Pipe Specials in India and continues to maintain its leadership in the market holding major market share. We are presently exporting to more than 25 countries all over the World in Europe, Asia and Africa.
The Directors are continuing their restless efforts, to automation to further consolidate their Market Position, to achieve the goal of being best quality and efficient producer of fittings in the market further automation in the existing Plant at Howrah is being implemented and is a continuous process. With this view, an Automatic Sand Filtration and Cooling Plant is being commissioned during the Current Financial Year. Further, it is planned to add an Automatic Moulding and Pouring Line to improve on Productivity, Quality and Efficiency of our Production Process and Product Portfolio.
The Company is planning to start a new Unit in another Industrial Area with close proximity to Raw Materials and competitive Energy with a plan to further enhance the Capacity and Product Portfolio. This will have a significant and positive impact on the Sales and Profitability of your Company. The Company is at an advanced stage of discussion and negotiation in the matter.
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
Long Term Borrowings |
|
|
|
Loans from related parties |
16.500 |
10.000 |
|
|
|
|
|
Short Term Borrowings |
|
|
|
Loan from Related Parties |
2.796 |
7.228 |
|
Others |
13.396 |
9.607 |
|
|
|
|
|
Total |
32.692 |
26.835 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10553454 |
12/03/2015 * |
316,200,000.00 |
Kotak Mahindra Bank Limited |
27bkc, C 27, G Block, Bandra Kurla Complex, Bandra (E),, Mumbai, Maharashtra - 400051, India |
C48673875 |
|
2 |
10536272 |
30/10/2014 |
8,000,000.00 |
Tata Capital Financial Services Limited |
One
Forbes,, Dr. V. B. Gandhi Marg, Fort, Mumbai, |
C36780476 |
|
3 |
10511463 |
30/05/2014 |
16,700,000.00 |
Deutsche Bank Ag |
Brooke House, 9 Shakespeare Sarani, Kolkata, West Bengal - 700071, India |
C09830597 |
|
4 |
10504095 |
30/04/2014 |
11,026,200.00 |
Deutsche Bank Ag |
Brooke House, 9 Shakespeare Sarani, Kolkata, West Bengal - 700071, India |
C04994406 |
|
5 |
10448370 |
22/08/2013 |
794,000.00 |
Tata Capital Financial Services Limited |
One
Forbes,, Dr. V. B. Gandhi Marg, Fort, Mumbai, |
B84704378 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Office Flat
·
Office Room
·
Sheds And Building
·
Sanitary Installation
·
Machinery
·
Pattern Purchase
·
Generator
·
Laboratory Equipment
·
Fire Extinguisher
·
Furnace
·
Telephone Installation
·
Electrical Installation
·
Pollution Control Equipment
·
Office Equipments
·
Refrigerator
·
A.C.Machine
·
Furniture
·
Handycam Camera
·
By‐Cycle
·
Motor Car
·
Motor Cycle
·
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.99.55 |
|
Euro |
1 |
Rs.71.64 |
INFORMATION DETAILS
|
Information
Gathered by : |
SPR |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
45 |
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.