MIRA INFORM REPORT

 

 

Report No. :

339208

Report Date :

05.09.2015

 

IDENTIFICATION DETAILS

 

Name :

CEEDEE METALLOYS PRIVATE LIMITED

 

 

Registered Office :

No. 12, Veerasandra Industrial Area, Electronic City, Hosur Road, Bangalore – 560100, Karnataka

Mobile. No.:

91-91-9845695183 (Mr. Raghav Bagri)

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

30.09.1992

 

 

Com. Reg. No.:

08-013583

 

 

Capital Investment / Paid-up Capital :

Rs. 7.440 Million

 

 

CIN No.:

[Company Identification No.]

U85110KA1992PTC013583

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject is engaged in the business of manufacturing of zinc wires.

 

 

No. of Employees :

Not Divulged 

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (42)

 

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 an established company incorporated during the year 1992. It is engaged in the business of manufacturing of zinc wires. It has a satisfactory track record.

 

In the view of financial year 2014, the company possesses fine operational activity marked by decent sales turnover along with average profitability margin.

 

The company possesses high debt equity ratio and it has healthy net worth base along with fine gap between trade payables and receivables.

 

Trade relations are reported as fair. Business is active. Payments 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

 

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 31-03-2013.

 

 

INFORMATION DENIED BY

 

Name :

Mr. Raghav Bagri

Designation :

Director

Contact No.:

91-9845695183

Date :

02.09.2013

 

 

LOCATIONS

 

Registered Office :

No. 12, Veerasandra Industrial Area, Electronic City, Hosur Road, Bangalore – 560100, Karnataka, India

Tel. No.:

91-80-43582000

Mobile No.:

91-91-9845695183 (Mr. Raghav Bagri)

Fax No.:

91-80-43582016 / 26768109

E-Mail :

trskumar2@dataone.in

info@zincindia.com

 

 

DIRECTORS

 

AS ON: 30.09.2014

 

Name :

Mr. Nirmal Bagri

Designation :

Director

Address :

No. 2596, 8th Main Banashankari 2nd Stage Bangalore-560070, Karnataka, India

Date of Birth/Age :

23.07.1949

Date of Appointment :

30.09.1992

DIN No.:

01612604

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

U85110KA1992PTC013583

CEEDEE METALLOYS PRIVATE LIMITED.

Director

30/09/1992

30/09/1992

-

Active

NO

2

U28999KA2001PTC028839

METALLIZERS AND CORROSION CONTROLLERS PRIVATE LIMITED

Director

29/03/2001

29/03/2001

-

Active

NO

 

 

Name :

Mr. Raghav Bagri

Designation :

Director

Address :

No. 2596, 8th Main Banashankari 2nd Stage Bangalore-560070, Karnataka, India

Date of Birth/Age :

29.03.1977

Date of Appointment :

20.04.1995

DIN No.:

01025329

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

U85110KA1992PTC013583

CEEDEE METALLOYS PRIVATE LIMITED.

Director

20/04/1995

20/04/1995

-

Active

NO

2

U28999KA2001PTC028839

METALLIZERS AND CORROSION CONTROLLERS PRIVATE LIMITED

Director

29/03/2001

29/03/2001

-

Active

NO

3

U01920KA1985PTC034393

STAR SHOES (INDIA) PRIVATE LIMITED

Director

10/11/2003

10/11/2003

-

Active

NO

 

 

Name :

Mrs. Vimala Bagri

Designation :

Director

Address :

No. 2596, 8th Main Banashankari 2nd Stage Bangalore-560070, Karnataka, India

Date of Birth/Age :

09.07.1954

Date of Appointment :

30.09.1992

DIN No.:

01612551

 

 

KEY EXECUTIVES

 

Name :

Shylendra Kumar

Designation :

Company Secretary

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON: 30.09.2014

 

Names of Shareholders

 

No. of Shares

Nirmal Bagri

 

555020

Vimala Bagri

 

75010

Raghav Bagri

 

114000

 

 

 

Total

 

744030

 

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON: 30.09.2014

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged in the business of manufacturing of zinc wires.

 

 

Products :

Zinc Wires

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

 

PRODUCTION STATUS NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

Not Divulged  

 

 

Bankers :

Banker Name

State Bank of India

Branch Address

SSI Branch, Bangalore - 560062,

Karnataka, 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
  • State Bank of Hyderabad, Jayanagar Branch, 11th Main, 38th CROSS, Jayanagar, Bangalore - 560041, Karnataka, India

 

 

Facilities :

(Rs. In Million)

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

From Banks

(Secured by hypothecation of immovable property of sister concern)

10.769

10.507

 

 

 

SHORT TERM BORROWING

 

 

-       From Banks

 

 

HDFC Vehicle Loan A.C 10482560000059

0.041

0.065

HDFC Loan A.C 02400450020206 Honda

0.024

0.038

Cash credit Secured by hypothecation of Stocks

19.299

14.892

 

 

 

Total

30.133

25.502

 

Auditors :

 

Name :

V. M. Pal and Company

Chartered Accountants

Address :

127, 2nd Floor, 10th Cross, Margosa Road, Malleshwaram, Bangalore-560003, Karnataka, India

PAN No.:

AACFV9074F

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Enterprise over which the key managerial personnel exercise control:
  • Cee Dee Metalloys Private Limited
  • Star Shoes India Private Limited

 

 

CAPITAL STRUCTURE

 

AS ON: 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1000000

Equity Shares

Rs.10/- each

Rs. 10.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

744030

Equity Shares

Rs.10/- each

Rs. 7.440 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

7.440

4.960

4.960

(b) Reserves & Surplus

4.011

4.422

3.071

(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)

11.451

9.382

8.031

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

26.115

17.673

23.246

(b) Deferred tax liabilities (Net)

0.701

0.436

0.244

(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)

26.816

18.109

23.490

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

19.364

14.995

0.000

(b) Trade payables

29.650

11.876

8.464

(c) Other current liabilities

2.892

1.872

0.869

(d) Short-term provisions

0.000

0.000

0.000

Total Current Liabilities (4)

51.906

28.743

9.333

 

 

 

 

TOTAL

90.173

56.234

40.854

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

19.423

15.756

14.039

(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

0.002

0.002

0.002

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

0.943

0.947

0.662

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

20.368

16.705

14.703

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

7.924

2.438

3.670

(c) Trade receivables

42.142

29.844

16.838

(d) Cash and cash equivalents

8.545

2.580

2.048

(e) Short-term loans and advances

8.932

4.154

3.337

(f) Other current assets

2.262

0.513

0.258

Total Current Assets

69.805

39.529

26.151

 

 

 

 

TOTAL

90.173

56.234

40.854

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

 

 

 

Other Income

 

 

 

 

TOTAL

231.936

158.369

108.018

 

 

 

 

 

Less:

EXPENSES

228.038

155.078

105.246

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION 

3.898

3.291

2.772

 

 

 

 

 

Less:

DEPRECIATION/ AMORTISATION

0.922

1.057

0.693

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

2.976

2.234

2.079

 

 

 

 

 

Less:

TAX

0.907

0.882

0.642

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

2.069

1.352

1.437

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

 2.78

2.73 

                2.90

 

 

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 flow from (used in) operations

NA

NA

NA

Net cash flow from operating activities

NA

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

0.89

0.85

1.33

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

3.30

3.97

5.09

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.26

0.24

0.26

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

3.97

3.48

2.89

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.34

1.38

2.80

 

 

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

4.960

4.960

7.440

Reserves & Surplus

3.071

4.422

4.011

Net worth

8.031

9.382

11.451

 

 

 

 

long-term borrowings

23.246

17.673

26.115

Short term borrowings

0.000

14.995

19.364

Total borrowings

23.246

32.668

45.479

Debt/Equity ratio

2.895

3.482

3.972

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Total Income

108.018

158.369

231.936

 

 

46.614

46.453

 

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Total Income

108.018

158.369

231.936

Profit

1.437

1.352

2.069

 

1.33%

0.85%

0.89%

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

--

6

Contact numbers

Yes

7

Name of the person contacted

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

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

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

 

 

NOTE: Registered office of the company has been shifted from #68, Pratibha Industrial Estate, Yelachanahalli, Bangalore-560078, Karnataka India to the present address w. e. f. 14.08.2006

 

 

UNSECURED LOAN:

 

PARTICULARS

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

LONG TERM BORROWINGS:

 

 

Loans from Shareholders

15.346

7.166

 

 

 

Total

15.346

7.166

 

 

INDEX OF CHARGES:

 

S. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10096903

05/12/2013 *

68,554,000.00

STATE BANK OF HYDERABAD

JAYANAGAR BRANCH, 11TH MAIN, 38TH CROSS, JAYANAGAR, BANGALORE, KARNATAKA - 560041, INDIA

B94530250

 

 

 

CONTINGENT LIABILITIES:

 

(Rs. in million)

PARTICULARS

31.03.2014

31.03.2013

Relating to Labor Dispute

Nil

Nil

Guarantees given by banks

0.750

Nil

Outstanding letter of credit

29.180

9.036

 

 

 

FIXED ASSETS:

 

 

 

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 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. 66.40

UK Pound

1

  Rs. 101.19

Euro

1

Rs. 73.89

 

 

INFORMATION DETAILS

 

Information Gathered by :

KMN

 

 

Analysis Done by :

TRI

 

 

Report Prepared by :

THR

 

 

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

4

--CREDIT LINES

1~10

4

--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

 

42

 

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

 

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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.