MIRA INFORM REPORT
|
Report No. : |
343248 |
|
Report Date : |
30.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
RATHI SUPER STEEL LIMITED |
|
|
|
|
Registered
Office : |
Flat No. 207, Vardhman Mayur Market AT CSC, Mayur Vihar, Phase – III, Kondli
Gharoli, Delhi – 110096 |
|
Tel. No.: |
91-120-4059000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
22.04.1991 |
|
|
|
|
Com. Reg. No.: |
55-044043 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.757.650 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1991PLC044043 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELR09317A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACRT0182M |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer of Steel and Iron, TMT/Tor Steel Bars. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 6100000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject was incorporated in the year 1991 engaged in the manufacturing
of iron and steel pipes, steel products, steel wash basin and TMT bars. For the financial year ended 2014, company possesses satisfactory
operational performance and it has maintained above average profitability
margins at 1.67% during the year under a review. Rating also takes into consideration extensive industry experience of
promoters in steel industry supported by sound financial base along with
above satisfactory net worth profile and above average debt coverage
indicators of the company. Trade relations are reported as fair. Payment terms are reported to be
usually correct. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and condition. |
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 |
Term Loan: BB+ |
|
Rating Explanation |
(Suspended) Inadequate credit quality and
high credit risk |
|
Date |
February, 2014 |
Note : Reason for
suspension = Absence of adequate information.
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 DECLINED BY
|
Name : |
Mr. Arvind Gupta |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-120-4059000 / 91-9811160081 |
|
Date : |
29.09.2015 |
LOCATIONS
|
Registered Office : |
Flat No. 207, Vardhman Mayur Market AT CSC, Mayur Vihar, Phase – III,
Kondli Gharoli, Delhi – 110096, India |
|
Tel. No.: |
91-120-4059000 |
|
Mobile No.: |
91-9811160081 (Mr. Arvind Gupta) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
A-97, Sector -63, Noida-201301, |
|
Tel. No.: |
91-120-4059000 |
|
Fax No.: |
91-120-4059040 |
|
|
|
|
Factory : |
A-1, Industrial
Area, South of |
|
Tel. No.: |
91-120-2840375 to
78 |
|
Fax No.: |
91-120-2840373 |
DIRECTORS
As on 29.09.2014
|
Name : |
Mr. Gaurav Rathi |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Chairman cum Managing Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
28, Sadhna Enclave, New Delhi-110017, |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
15.04.1973 |
||||||||||||||||||||||||||||||||||||
|
Qualification : |
Graduate |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
16.12.1991 |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00005742 |
||||||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Yagya Vrat Singh |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
321, Chipiyana Bujurg, Dadri, Gautam budh Nagar, Noida – 201303, Uttar
Pradesh, India |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
01.07.1949 |
||||||||||||||||||||||||||||||||||||
|
Qualification : |
Graduate |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.04.2013 |
||||||||||||||||||||||||||||||||||||
|
DIN No. : |
00007083 |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Udit Narayan Jha |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
608, Ahlcon Apparmeents. Vaishali, |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
05.01.1944 |
||||||||||||||||||||||||||||||||||||
|
Qualification : |
Graduate |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.03.2012 |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
01469584 |
||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Amitabha Biswas |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Additional Director |
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|
Address : |
44, Southern Avenue, Kolkata – 700029, West Bengal, India |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
02.02.1946 |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
23.09.2013 |
||||||||||||||||||||||||||||||||||||
|
DIN No. : |
06589705 |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Pradeep Rawal |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
22, Madhuban, Bank Colony, Alwar - 301001, Rajasthan, India |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
27.12.1953 |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
29.09.2014 |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
06757676 |
||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Arvind Gupta |
|
Designation : |
Finance Manager |
|
|
|
|
Name : |
Mr. Atul Kumar |
|
Designation : |
Company Secretary |
|
Address : |
A-440, First Floor, Defence Colony, New Delhi - 110024, India |
|
Date of Appointment : |
24.01.2008 |
|
PAN No.: |
AGBPK1186C |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Valncia Credits Limited (Formerly Known as Gagar Marketing Private
Limited, India |
|
2879020 |
|
Gagar Metals Private Limited, India |
|
3152060 |
|
Ferrous Investment Private Limited (Formerly Known as Gaurav Leasing
Private Limited, India ) |
|
3157447 |
|
Deepraj Investment Limited, India |
|
550000 |
|
Shri Gaurav Rathi |
|
1787856 |
|
Anuradha Vinmay Private Limited, India |
|
2370000 |
|
Daffodil Commotrade Private Limited, India |
|
390000 |
|
Jasmine Vintrade Private Limited, India |
|
2570000 |
|
Fantastic Vincom Private Limited, India |
|
2958617 |
|
Avishkar Trade-Link Private Limited, India |
|
1260700 |
|
Primus Capital Private Limited, India |
|
2594300 |
|
Rubion Marketing Private Limited, India |
|
180000 |
|
Total |
|
23850000 |
As on 29.09.2014
|
Names of Preference Shareholders |
No. of Shares |
|
Daffodil Commotrade Private Limited, |
260652 |
|
Rubion Marketing Limited, |
871525 |
|
Wonder Mercantile Private Limited |
1073800 |
|
Glamour Dealer Private Limited |
2313800 |
|
Gagar Metals Private Limited |
5000 |
|
Ferrous Investment Private Limited |
5000 |
|
Jasmine Vintrade Private Limited, India |
3300 |
|
Prominent Dealer Private Limited |
560000 |
|
Fantastic Vincom Private Limited, India |
3100 |
|
Galaxy Vintrade Private Limited |
273973 |
|
Anuradha Vinmay Private Limited, India |
850 |
|
Imperium Steel Limited |
25500 |
|
Total |
5396500 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2014
|
Category |
Percentage |
|
Bodies corporate |
92.50 |
|
Directors or relatives of Directors |
7.50 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Steel and Iron, TMT/Tor Steel Bars. |
|
|
|
|
Products : |
Not Divulged |
|
|
|
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Brand Names : |
Not Divulged |
|
|
|
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Agencies Held : |
Not Divulged |
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|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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|||||||||||||||||||||||||||
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Facilities : |
|
|
Financial Institution : |
SREI Equipment Finance Private Limited, Vishwakarma, 86C, Topsia Road,
Kolkata – 700046, West Bengal, India |
|
|
|
|
Auditors : |
|
|
Name : |
H.G and Company Chartered Accountants |
|
Address : |
III-A-49, Nehru Naar, Ghaziabad - 201001, Uttar Pradesh, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AGBPK1186C |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Related Parties : |
CIN No.: U27101DL2004PLC134231
CIN No.: U74899DL1986PTC024481
CIN No.: U27310DL1993PTC054001
U67120WB1996PTC137527
CIN No.: U27310DL2007PLC168985
CIN No.: U27106DL2005PTC141836
CIN No.: U51109WB1995PTC074848 |
CAPITAL STRUCTURE
As on 29.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
23850000 |
Equity Shares |
Rs.10/- each |
Rs.238.500 Million |
|
5600000 |
Preference Shares |
Rs.100/-each |
Rs. 560.000 Million |
|
|
Total |
|
Rs.798.500
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
23850000 |
Equity Shares |
Rs.10/- each |
Rs.238.500
Million |
|
5596500 |
Preference Shares |
Rs.100/-each |
Rs.559.650 Million |
|
|
Total |
|
Rs.798.150 Million |
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2945000 |
Equity Shares |
Rs.10/- each |
Rs.29.450 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
75765000 |
Equity Shares |
Rs.10/- each |
Rs.757.650 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 |
757.650 |
677.550 |
377.200 |
|
(b) Reserves & Surplus |
1113.711 |
991.465 |
897.378 |
|
(c) Money received against
share warrants |
283.500 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
220.350 |
|
Total
Shareholders’ Funds (1) + (2) |
2154.861 |
1669.015 |
1494.928 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
3043.913 |
2565.155 |
2133.225 |
|
(b) Deferred tax liabilities
(Net) |
45.676 |
91.226 |
148.176 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
2.805 |
2.275 |
2.172 |
|
Total
Non-current Liabilities (3) |
3092.394 |
2658.656 |
2283.573 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1539.634 |
1150.781 |
970.655 |
|
(b) Trade payables |
0.000 |
0.000 |
0.000 |
|
(c) Other current liabilities |
243.208 |
338.933 |
212.196 |
|
(d) Short-term provisions |
2.303 |
3.250 |
18.064 |
|
Total
Current Liabilities (4) |
1785.145 |
1492.964 |
1200.915 |
|
|
|
|
|
|
TOTAL |
7032.400 |
5820.635 |
4979.416 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2777.414 |
3107.887 |
1575.168 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
620.296 |
128.479 |
765.148 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
11.715 |
11.714 |
11.714 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
3409.425 |
3248.080 |
2352.030 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
510.709 |
692.962 |
521.530 |
|
(c) Trade receivables |
2078.252 |
1387.462 |
1131.002 |
|
(d) Cash and cash equivalents |
44.105 |
40.693 |
49.766 |
|
(e) Short-term loans and
advances |
989.909 |
451.438 |
925.088 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
3622.975 |
2572.555 |
2627.386 |
|
|
|
|
|
|
TOTAL |
7032.400 |
5820.635 |
4979.416 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
7150.435 |
5953.485 |
5628.801 |
|
|
Other Income |
0.000 |
0.000 |
1.665 |
|
|
TOTAL
(A) |
7150.435 |
5953.485 |
5630.466 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
6100.657 |
5469.461 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(0.887) |
(272.990) |
142.757 |
|
|
Employees benefits expense |
12.086 |
8.606 |
8.042 |
|
|
Exceptional items |
0.228 |
(0.140) |
0.052 |
|
|
Other expenses |
38.833 |
23.834 |
4972.861 |
|
|
TOTAL
(B) |
6150.917 |
5228.771 |
5123.712 |
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
999.518 |
724.714 |
506.754 |
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
492.507 |
331.824 |
205.360 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
507.011 |
392.890 |
301.394 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
410.055 |
342.407 |
195.977 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
96.956 |
50.483 |
105.417 |
|
|
|
|
|
|
|
Less |
TAX (H) |
(26.002) |
(46.794) |
45.204 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
122.958 |
97.277 |
60.213 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
0.00 |
0.00 |
0.00 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
(101.008) |
927.873 |
(233.975) |
|
Net cash flow from operating activity |
(123.512) |
913.055 |
(257.187) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
1.72 |
1.63 |
1.07 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
13.98 |
12.17 |
9.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.51 |
0.89 |
2.50 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04 |
0.03 |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.13 |
2.23 |
2.08 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.03 |
1.72 |
2.19 |
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 |
377.200 |
677.550 |
757.650 |
|
Reserves & Surplus |
897.378 |
991.465 |
1113.711 |
|
Money received against share
warrants |
0.000 |
0.000 |
283.500 |
|
Share Application money pending allotment |
220.350 |
0.000 |
0.000 |
|
Net
worth |
1494.928 |
1669.015 |
2154.861 |
|
|
|
|
|
|
long-term borrowings |
2133.225 |
2565.155 |
3043.913 |
|
Short term borrowings |
970.655 |
1150.781 |
1539.634 |
|
Total
borrowings |
3103.880 |
3715.936 |
4583.547 |
|
Debt/Equity
ratio |
2.076 |
2.226 |
2.127 |
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 |
5628.801 |
5953.485 |
7150.435 |
|
|
|
5.768 |
20.105 |
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 |
5628.801 |
5953.485 |
7150.435 |
|
Profit |
60.213 |
97.277 |
122.958 |
|
|
1.07% |
1.63% |
1.72% |
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 |
No |
|
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 |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
OPERATIONS
Despite the prevailing situation of continuing economic slowdown, the Directors are pleased to state that the company improved its overall performance during this year, registering a growth of 20% in Revenue from Operations and 29% in Gross Profit over the corresponding figures of the preceding financial year.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Term loans from others |
89.866 |
302.444 |
|
Total |
89.866 |
302.444 |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
80006778 |
11/04/2014 * |
5,324,188,000.00 |
DENA BANK |
G-35, NEW DELHI, NEW DELHI, Delhi - 110001, INDIA |
C02363539 |
CONTINGENT
LIABILITIES:
(Rs. in million)
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
|
Bank Guarantee |
2.502 |
27.288 |
|
Show Cause Notices from Excise Deptt. pending for adjudication |
1.763 |
1.763 |
|
Demand from Excise Deptt. and stayed by CESTAT |
45.245 |
45.859 |
|
Sales tax additional demand not acknowledged as liability |
267.802 |
280.511 |
|
Suit filed in labour cases, not acknowledged as liability |
0.845 |
0.530 |
|
Surcharge on 17% deduction from power bills stayed by Hon'ble High Court |
3.559 |
3.559 |
FIXED ASSETS
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
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.66.18 |
|
|
1 |
Rs.100.46 |
|
Euro |
1 |
Rs.74.60 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SUJ |
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 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
50 |
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.