|
|
|
MIRA INFORM REPORT
|
Report No. : |
504139 |
|
Report Date : |
16.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
AMBICA STEELS
LIMITED |
|
|
|
|
Registered
Office : |
C-54/1, Mezzanie Floor, Wazirpur Industrial Area, New
Delhi - 110052 |
|
Tel. No.: |
91-11-47034400 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
16.07.1970 |
|
|
|
|
Com. Reg. No.: |
55-005345 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 89.922 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27109DL1970PLC005345 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACA9942Q |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
07AAACA9942Q1Z2 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company. |
|
|
|
|
Line of Business
: |
Manufacturing Iron and Steel of different grades and of different shapes. (Registered activity) |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exists |
|
|
|
|
Comments : |
Subject was incorporated in the year 1970. It is a
manufacturer of Bar and Rods of Stainless Steel, Angles, Shapes and Section
of Stainless Steel. For the financial year 2017, the revenue of the company has increased by 2.79% along with low profit margin of 0.86%. The satisfactory financial profile of the company is marked by adequate networth base along with comfortable debt coverage indicators. The rating takes into consideration the subject’s long established track record of business operations along with extensive experience of its promoters. However, these rating strengths are partially offset by highly competitive steel industry. Business is active. Payment seems to be slow but correct. In view of aforesaid, 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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
INDIA RATING |
|
Rating |
Term Loans = BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk |
|
Date |
28.01.2018 |
|
|
|
|
Rating Agency Name |
INDIA RATING |
|
Rating |
Non Fund Based Working Capital = A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit risk |
|
Date |
28.01.2018 |
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
31-03-2018.
BIFR (Board for Industrial & Financial
Reconstruction) LISTING STATUS
Subject’s name is
not listed as a Sick Unit in the publicly available BIFR (Board for Industrial
& Financial Reconstruction) list as of 16.04.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED BY
|
Name : |
Mr. Rahul |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-11-47034400 |
|
Date : |
14.04.2018 |
LOCATIONS
|
Registered / Head Office : |
C-54/1, Mezzanie Floor, Wazirpur Industrial Area, New
Delhi - 110052, India |
|
Tel. No.: |
91-11-47034400 (30 lines) |
|
Fax No.: |
91-11-47034450 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Sales Office : |
D-50, Vrindavan, L.B.S. Marg, Ghatkopar (West), Mumbai – 400086, Maharashtra, India |
|
|
|
|
Factory 1 / Melting, Refining and Casting Division: |
Plot No. 51/2, Site – 4, UPSIDC Industrial Area, Sahibabad – 201010,
District Ghaziabad, Uttar Pradesh, India. |
|
Tel. No.: |
91-120-4189300 (30 lines) |
|
Fax No.: |
91-120-4189399 |
|
|
|
|
Hot Rolling and Heat |
Plot No. 32, Site-2, Loni Road, Industrial Area, Mohan Nagar,
Ghaziabad – 201007, Uttar Pradesh, India. |
|
Tel. No.: |
91-120-4189200 (30 lines) |
|
Fax No.: |
91-120-4189222 |
|
|
|
|
Godown 1 : |
Plot No 935, Road No.10, Village Kalamboli Taluka Panvel, Distt.
Raigad, Navi Mumbai, Maharashtra, India |
|
|
|
|
Godown 2 : |
Plot No. 845 G, Village Kalamboli Taluka Panvel, Distt. Raigad, Navi
Mumbai, Maharashtra, India |
|
|
|
|
Godown 3 : |
F-139-B, Ricco Industrial Area, Bhiwadi, Rajasthan, India |
|
|
|
|
Overseas Offices : |
Located at:
|
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Mahesh Gupta |
||||||||||||||||
|
Designation : |
Whole-Time Director |
||||||||||||||||
|
Address : |
Flat No. E - 302 Pearl Gateway Tower, Sector 44, Noida Gautam Budh Nagar - 201303, Uttar Pradesh, India |
||||||||||||||||
|
Date of Birth/Age : |
30.03.1970 |
||||||||||||||||
|
Qualification : |
Graduate |
||||||||||||||||
|
Date of Appointment : |
01.04.2008 |
||||||||||||||||
|
PAN No.: |
AAIPG5152D |
||||||||||||||||
|
DIN No.: |
00009849 |
||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Mr. Ajay Kumar |
||||||||||||||||
|
Designation : |
Whole-Time Director |
||||||||||||||||
|
Address : |
Tgb Meghdutam Plot No. F-21C, Flat No. Z-12 A, Sector 50, Noida Gautam Budh Nagar - 201301, Uttar Pradesh, India |
||||||||||||||||
|
Date of Birth/Age : |
01.02.1964 |
||||||||||||||||
|
Qualification : |
Graduate |
||||||||||||||||
|
Date of Appointment : |
15.05.2000 |
||||||||||||||||
|
PAN No.: |
ALSPK9944J |
||||||||||||||||
|
DIN No.: |
00009973 |
||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Mr. Chander Parkash |
||||||||||||||||
|
Designation : |
Managing director |
||||||||||||||||
|
Address : |
H. No. 9, East Avenue Road, East Punjabi Bagh, New Delhi - 110026, India |
||||||||||||||||
|
Date of Birth/Age : |
12.10.1960 |
||||||||||||||||
|
Qualification : |
Graduate |
||||||||||||||||
|
Date of Appointment : |
19.10.1999 |
||||||||||||||||
|
PAN No.: |
ABLPC7455P |
||||||||||||||||
|
DIN No.: |
01715253 |
||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Mr. Satya Parkash Tyagi |
||||||||||||||||
|
Designation : |
Whole-time director |
||||||||||||||||
|
Address : |
F - 103, Alaknanda Appartments,, Rampuri, Gaziabad - 201010, Uttar Pradesh, India |
||||||||||||||||
|
Date of Birth/Age : |
01.01.1960 |
||||||||||||||||
|
Qualification : |
Graduate |
||||||||||||||||
|
Date of Appointment : |
10.07.2003 |
||||||||||||||||
|
PAN No.: |
ADTPT1485A |
||||||||||||||||
|
DIN No.: |
01736605 |
||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Mr. Pawan Kumar Gupta |
||||||||||||||||
|
Designation : |
Director |
||||||||||||||||
|
Address : |
C - 115 Block - C, Mahendru Enclave, Delhi - 110009, India |
||||||||||||||||
|
Date of Birth/Age : |
24.02.1955 |
||||||||||||||||
|
Qualification : |
Graduate |
||||||||||||||||
|
Date of Appointment : |
29.07.2014 |
||||||||||||||||
|
DIN No.: |
06925758 |
||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Mrs. Neeru Sharma |
||||||||||||||||
|
Designation : |
Director |
||||||||||||||||
|
Address : |
C-2/8A, Block C-2 Keshav Puram, Delhi – 110035, India |
||||||||||||||||
|
Date of Birth/Age : |
16.04.1965 |
||||||||||||||||
|
Qualification : |
Graduate |
||||||||||||||||
|
Date of Appointment : |
28.07.2015 |
||||||||||||||||
|
DIN No.: |
07242781 |
||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Ashish Jain |
|
Designation : |
Company Secretary |
|
Address : |
P-18, Street No. 9, Shankar Nagar Extension, Near Jain Mandir, Delhi –
110031, India |
|
Date of Birth/Age : |
25.04.1986 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
12.05.2016 |
|
PAN No.: |
AJJPJ4492R |
|
|
|
|
Name : |
Mr. Davesh Chander |
|
Designation : |
Chief Financial Officer |
|
Address : |
2/46, Roop Nagar, Delhi - 110007, India |
|
Date of Appointment : |
29.07.2014 |
|
PAN No.: |
AAAPG4857F |
|
|
|
|
Name : |
Mr. Rahul |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Seema Gupta |
|
86900 |
|
Chander Prakash Gupta |
|
430710 |
|
Chander Prakash (HUF) |
|
34200 |
|
Mahesh Gupta |
|
68500 |
|
Ajay Kumar Singhal |
|
20000 |
|
Uphar Steels Limited, India |
|
102100 |
|
Futureplan Industrial Private Limited, India |
|
77850 |
|
Ramesh Kumar |
|
4000 |
|
Suman Singhal |
|
5000 |
|
Ajay Kumar and Sons HUF |
|
5000 |
|
Sunita Singhal |
|
8000 |
|
Richa Gupta |
|
13000 |
|
Anuj Singhal |
|
8300 |
|
Abhinav Gupta |
|
19000 |
|
Ankush Singhal |
|
5360 |
|
Mahesh Gupta HUF |
|
10000 |
|
Raj Kumar Singhal |
|
1300 |
|
|
|
|
|
Total |
|
899220 |
Equity Share Break up (Percentage of Total Equity)
As on 26.09.2017
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided
Family – Indian) |
79.99 |
|
Promoter - Bodies
corporate |
20.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing Iron and Stainless Steel of different grades and of different shapes. (Registered activity) |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
Not Divulged |
||||
|
|
|
||||
|
Agencies Held : |
Not Divulged |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
No. of Employees : |
Information declined by the management |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
Rajindera Kumar Goel and Company Chartered Accountants |
|
Address : |
J-288, Ground Floor, Saket, New Delhi – 110017, India |
|
Tel No.: |
91-11-29551379 |
|
Email.: |
|
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAEFR3835Q |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiaries : |
U37100DL2010PLC204397
|
|
|
|
|
Enterprises which are owned, or have significant influence of or are
partners with Key management personnel and their relatives : |
U45400DL2007PTC169228
U74899DL1985PLC020703
U65910DL1996PLC082049
U40106DL2013PTC260036
|
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1200000 |
Equity Shares |
INR 100/- each |
INR 120.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
899220 |
Equity Shares |
INR 100/- each |
INR 89.922
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
89.922 |
89.922 |
116.358 |
|
(b) Reserves and Surplus |
617.874 |
580.724 |
900.725 |
|
(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) |
707.796 |
670.646 |
1017.083 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
249.302 |
236.241 |
261.047 |
|
(b) Deferred tax liabilities (Net) |
80.569 |
73.195 |
130.841 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
18.200 |
|
(d) long-term
provisions |
21.576 |
18.553 |
16.910 |
|
Total Non-current
Liabilities (3) |
351.447 |
327.989 |
426.998 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
1182.107 |
1017.968 |
1238.820 |
|
(b) Trade
payables |
283.562 |
293.411 |
261.560 |
|
(c) Other
current liabilities |
126.136 |
142.317 |
187.201 |
|
(d) Short-term
provisions |
14.904 |
5.581 |
6.121 |
|
Total Current
Liabilities (4) |
1606.709 |
1459.277 |
1693.702 |
|
|
|
|
|
|
TOTAL |
2665.952 |
2457.912 |
3137.783 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
679.630 |
608.314 |
1108.895 |
|
(ii)
Intangible Assets |
1.339 |
1.069 |
0.977 |
|
(iii) Tangible assets
capital work-in-progress |
0.000 |
3.666 |
9.872 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
23.442 |
21.263 |
21.263 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
35.189 |
57.493 |
44.226 |
|
(e) Other
Non-current assets |
22.490 |
21.032 |
21.233 |
|
Total Non-Current
Assets |
762.090 |
712.837 |
1206.466 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
899.134 |
852.679 |
884.464 |
|
(c) Trade
receivables |
584.569 |
553.836 |
577.778 |
|
(d) Cash and
bank balances |
115.814 |
113.355 |
155.083 |
|
(e)
Short-term loans and advances |
300.417 |
220.697 |
307.381 |
|
(f) Other
current assets |
3.928 |
4.508 |
6.611 |
|
Total
Current Assets |
1903.862 |
1745.075 |
1931.317 |
|
|
|
|
|
|
TOTAL |
2665.952 |
2457.912 |
3137.783 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
4304.439 |
4187.439 |
5424.433 |
|
|
Other Income |
15.146 |
18.525 |
22.017 |
|
|
TOTAL |
4319.585 |
4205.964 |
5446.450 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
2980.380 |
3050.326 |
4047.999 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
49.244 |
(147.993) |
84.630 |
|
|
Employee benefit expense |
219.530 |
196.681 |
193.383 |
|
|
CSR expenditure |
1.100 |
0.000 |
0.000 |
|
|
Other expenses |
852.626 |
858.702 |
849.394 |
|
|
Prior period items before tax |
0.000 |
0.000 |
0.000 |
|
|
Exceptional items before tax |
0.000 |
164.251 |
0.000 |
|
|
TOTAL |
4102.880 |
4121.967 |
5175.406 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
216.705 |
83.997 |
271.044 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
114.914 |
140.854 |
117.293 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
101.791 |
(56.857) |
153.751 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
44.748 |
62.539 |
62.208 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
57.043 |
(119.396) |
91.543 |
|
|
|
|
|
|
|
Less |
TAX |
19.893 |
(40.753) |
33.214 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
37.150 |
(78.643) |
58.329 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
0.000 |
350.391 |
1327.658 |
|
|
Other
Earning |
0.000 |
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
0.000 |
350.391 |
1327.658 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
0.000 |
1251.034 |
1971.747 |
|
|
Components and spare
parts |
0.000 |
26.610 |
16.769 |
|
|
Capital Goods |
0.000 |
13.092 |
28.417 |
|
|
TOTAL IMPORTS |
0.000 |
1290.736 |
2016.933 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
41.31 |
(87.46) |
64.87 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
10.435 |
24.000 |
79.800 |
|
Net cash flows from (used in) operations |
30.615 |
346.657 |
573.163 |
|
Net cash flows from (used in) operating activities |
18.097 |
293.285 |
550.620 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days [Sundry Debtors / Income * 365] |
|
49.57 |
48.28 |
38.88 |
|
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
|
7.36 |
7.56 |
9.39 |
|
|
|
|
|
|
|
Average Payment Days [Sundry Creditors /
Purchases * 365] |
|
34.73 |
35.11 |
23.58 |
|
|
|
|
|
|
|
Inventory Turnover [Operating Income /
Inventories] |
|
0.24 |
0.10 |
0.31 |
|
|
|
|
|
|
|
Asset Turnover [Operating Income / Net Fixed
Assets] |
|
0.32 |
0.14 |
0.24 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio [(Borrowing + Current Liabilities) / Total Assets] |
|
0.70 |
0.70 |
0.65 |
|
|
|
|
|
|
|
Debt Equity Ratio (Borrowings / NetWorth) |
|
2.04 |
1.91 |
1.55 |
|
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / NetWorth) |
|
2.27 |
2.18 |
1.67 |
|
|
|
|
|
|
|
Fixed Assets to NetWorth (Net Fixed Assets /
NetWorth) |
|
0.96 |
0.91 |
1.10 |
|
|
|
|
|
|
|
Interest Coverage Ratio [PBIT / Financial
Charges] |
|
1.89 |
0.60 |
2.31 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales) * 100] |
(%) |
0.86 |
(1.88) |
1.08 |
|
|
|
|
|
|
|
Return on Total Assets [(PAT / Total Assets)
* 100] |
(%) |
1.39 |
(3.20) |
1.86 |
|
|
|
|
|
|
|
Return on Investment (ROI) [(PAT / NetWorth)
* 100] |
(%) |
5.25 |
(11.73) |
5.73 |
SOLVENCY RATIO
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio [Current Assets / Current Liabilities] |
|
1.18 |
1.20 |
1.14 |
|
|
|
|
|
|
|
Quick Ratio [(Current Assets - Inventories)
/ Current Liabilities] |
|
0.63 |
0.61 |
0.62 |
|
|
|
|
|
|
|
G-Score Ratio Financial [NetWorth / Total
Assets] |
|
0.27 |
0.27 |
0.32 |
|
|
|
|
|
|
|
G-Score Ratio Debt [Debts / Equity Capital] |
|
16.03 |
14.21 |
13.58 |
|
|
|
|
|
|
|
G-Score Ratio Liquidity [Total Current
Assets / Total Current Liabilities] |
|
1.18 |
1.20 |
1.14 |
Total Liability =
Short-term Debt + Long-term Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
116.358 |
89.922 |
89.922 |
|
Reserves & Surplus |
900.725 |
580.724 |
617.874 |
|
Net
worth |
1017.083 |
670.646 |
707.796 |
|
|
|
|
|
|
Long-term borrowings |
261.047 |
236.241 |
249.302 |
|
Short term borrowings |
1238.820 |
1017.968 |
1182.107 |
|
Current maturities of
long-term debts |
79.800 |
24.000 |
10.435 |
|
Total
borrowings |
1579.667 |
1278.209 |
1441.844 |
|
Debt/Equity
ratio |
1.553 |
1.906 |
2.037 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
5424.433 |
4187.439 |
4304.439 |
|
|
|
(22.804) |
2.794 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
5424.433 |
4187.439 |
4304.439 |
|
Profit/ (Loss) |
58.329 |
(78.643) |
37.150 |
|
|
1.08
% |
(1.88
%) |
0.86
% |
ABRIDGED
BALANCE SHEET – (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
89.922 |
89.922 |
|
(b) Reserves and Surplus |
|
628.481 |
592.980 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
718.403 |
682.902 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
249.302 |
236.241 |
|
(b) Deferred tax liabilities (Net) |
|
80.569 |
73.195 |
|
(c) Other long-term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
21.576 |
18.553 |
|
Total Non-current
Liabilities (3) |
|
351.447 |
327.989 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
1182.107 |
1017.968 |
|
(b) Trade
payables |
|
282.581 |
292.444 |
|
(c) Other
current liabilities |
|
96.566 |
111.141 |
|
(d) Short-term
provisions |
|
14.905 |
5.581 |
|
Total Current
Liabilities (4) |
|
1576.159 |
1427.134 |
|
|
|
|
|
|
TOTAL |
|
2646.009 |
2438.025 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
679.641 |
608.328 |
|
(ii)
Intangible Assets |
|
1.339 |
1.069 |
|
(iii) Tangible assets
capital work-in-progress |
|
0.000 |
3.666 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
|
35.189 |
57.493 |
|
(e) Other
Non-current assets |
|
22.490 |
21.032 |
|
Total Non-Current
Assets |
|
738.659 |
691.588 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
899.134 |
852.679 |
|
(c) Trade
receivables |
|
584.570 |
553.836 |
|
(d) Cash and
bank balances |
|
119.285 |
114.703 |
|
(e)
Short-term loans and advances |
|
300.420 |
220.697 |
|
(f) Other
current assets |
|
3.941 |
4.522 |
|
Total
Current Assets |
|
1907.350 |
1746.437 |
|
|
|
|
|
|
TOTAL |
|
2646.009 |
2438.025 |
PROFIT
& LOSS ACCOUNT– (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
|
4304.439 |
4187.447 |
|
|
Other Income |
|
15.170 |
18.540 |
|
|
TOTAL |
|
4319.609 |
4205.987 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
2980.380 |
3049.853 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
49.244 |
(147.993) |
|
|
Employee benefit expense |
|
220.039 |
196.764 |
|
|
Other expenses |
|
854.026 |
859.240 |
|
|
Exceptional items before tax |
|
0.000 |
164.251 |
|
|
TOTAL |
|
4103.689 |
4122.115 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
215.920 |
83.872 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
114.975 |
140.946 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
100.945 |
(57.074) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
44.750 |
62.541 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
56.195 |
(119.615) |
|
|
|
|
|
|
|
Less |
TAX |
|
19.893 |
(40.856) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
36.302 |
(78.759) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
40.37 |
(87.59) |
LEGAL
CASE
|
HIGH COURT OF DELHI CASE TYPE :ITA Date of Filing : 19.09.2013 DIARY
NO : 143619/2013 12:19:36 STATUS : RETURNED COMMISSIONER OF INCOME TAX – I Vs. AMBICA STEELS LIMITED Scrutiny
Assistant : MR.KUNKUN SINGH Filing Advocate : SANEEV RAJPAL Subject 1 : Deductions/exemptions
Subject 2 : NOT ENTERED |
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 |
Yes |
|
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 |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
REVIEW OF BUSINESS
OPERATIONS AND FUTURE PROSPECTS
The Directors wish to present the details of Business operations done during the year under review:
a. Production and Profitability : 43,385.51MT, INR 37.150 Million
b. Sales and Other operating income : INR 4304.439 Million
c. Marketing and Market environment :
India is one of the largest producer and exporter of Steel in the world. Rich and varied Indian geographic and agro-climatic conditions foster consistent availability of wide range of Steel, which has a large contribution in the formation of the Indian economy. It has been playing a prominent role in the development of nation's economy. Indian steels industry, which includes Ambica Steels Limited too, has provides employment to large number of people on the one hand and on the other hand, it makes significant contribution to national treasury by way of excise revenue and foreign exchange earnings. Steel Industry in India contributes in a unique manner to several important facets of the Indian Economy, covering revenue, export, employment, GDP growth and many more.
d. Future Prospects including constraints affecting due to Government policies:
Rising domestic demand by sectors such as infrastructure, highways, real estate, automobiles, awaited superfast rail corridors, metro’s and ground transportations has put the Indian steel industry on the world map. Growth in the private sector is expected to be boosted by new policies on Make in India and from the import of foreign technology. The Government plans to unveil some policies that will targets huge production as well as quality products in a decade from now and the policy aims to develop the Indian steel industry into a global leader in terms of production, technology, quality and efficiency.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Foreign currency term loans from banks |
65.814 |
26.062 |
|
Loans and advances from related parties |
28.476 |
20.614 |
|
Deposits |
144.211 |
168.614 |
|
|
|
|
|
Total |
238.501 |
215.290 |
INDEX
OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
C50118728 |
10561552 |
Oriental Bank of Commerce |
13/04/2015 |
- |
- |
156000000.0 |
Harsha Bhawan, E-Block,GR. & 1st Floor, Connaught PlaceNew DelhiDL110001IN |
|
2 |
G08190688 |
10374750 |
Oriental Bank of Commerce |
24/08/2012 |
17/06/2016 |
- |
1923400000.0 |
Large Corporate Branch, 1st Floor, Harsha BhawanE - Block, Connaught PlaceNew DelhiDL110001IN |
|
3 |
G10994879 |
10185232 |
ORIENTAL BANK OF COMMERCE |
25/09/2009 |
- |
12/08/2016 |
180000000.0 |
30-33, 1ST FLOOR, A-BLOCK, CONNAUGHT PLACENEW DELHIDL110001IN |
|
4 |
G10995082 |
10188276 |
ORIENTAL BANK OF COMMERCE |
08/10/2009 |
- |
12/08/2016 |
75000000.0 |
30-33 IST FLOOR, A-BLOCK CONNAUGHT PLACENEW DELHIDL110001IN |
|
5 |
G10995595 |
10280902 |
ORIENTAL BANK OF COMMERCE LIMITED |
02/03/2011 |
- |
12/08/2016 |
207000000.0 |
DELHIINDIANEW DELHIDL110001IN |
|
6 |
G11010337 |
90044439 |
ORIENTAL BANK OF COMMERCE |
09/11/2004 |
- |
12/08/2016 |
26800000.0 |
A - BLOCKCONNAUGHT PLACENEW DELHIDL110001IN |
|
7 |
G10984441 |
10098733 |
ORIENTAL BANK OF COMMERCE |
20/03/2008 |
- |
12/08/2016 |
135000000.0 |
HARSHA BHAWAN, E-BLOCK,CONNAUGHT PLACE,NEW DELHIDL110001IN |
|
8 |
G11006897 |
80012139 |
oriental bank of commerce |
14/12/2005 |
- |
12/08/2016 |
52700000.0 |
CONNAUGHT PLACEA -BLOCKNEW DELHIDL110001IN |
|
9 |
G11008158 |
80012140 |
ORIENTAL BANK OF COMMERCE |
14/12/2005 |
- |
12/08/2016 |
40400000.0 |
A- BLOCKCONNAUGHT PLACENEW DELHIDL110001IN |
|
10 |
G10995306 |
10250714 |
ORIENTAL BANK OF COMMERCE LIMITED |
29/09/2010 |
- |
12/08/2016 |
100000000.0 |
DELHIINDIANEW DELHIDL110001IN |
FIXED ASSETS
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Emission reduction equipment
- Vehicles
- Computer equipments
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 records 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
|
INR |
|
US Dollar |
1 |
INR 65.22 |
|
|
1 |
INR 92.77 |
|
Euro |
1 |
INR 80.34 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHAL |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
KJL |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.