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MIRA INFORM REPORT
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Report No. : |
504297 |
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Report Date : |
19.04.2018 |
IDENTIFICATION DETAILS
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Name : |
UTTAM VALUE STEELS LIMITED (w.e.f. 18.03.2013) |
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Formerly Known
As : |
LLOYDS STEEL INDUSTRIES LIMITED |
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Registered Office
: |
4th Floor, Uttam House, 69, P. D Mello Road, Mumbai –
400009, Maharashtra |
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Tel. No.: |
91-22-30418111 / 66563500 |
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Country : |
India |
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Financials (as
on) : |
31.03.2018 |
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Date of
Incorporation : |
27.04.1970 |
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Com. Reg. No.: |
11-014621 |
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Capital
Investment / Paid-up Capital : |
INR 6701.400 Million |
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CIN No.: [Company Identification
No.] |
L27100MH1970PLC014621 |
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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PAN No.: [Permanent Account No.] |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Divulged |
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GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Subject is engaged in the business of manufacturing of Steel and Capital Equipment products. (Registered Activity) |
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No. of Employees
(As on 2017) : |
1096 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
C |
|
Credit Rating |
Explanation |
Rating Comments |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow and delayed |
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Litigation : |
Exists |
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Comments : |
Subject was incorporated in the year 1970 and it is engaged in manufacturing of steel products, engineering equipment and executing turnkey projects. As per the financials of March 2018, the company has registered a decline in its revenue as compared to its previous year’s revenue and has reported losses. Rating takes into consideration the company’s accumulated previous year’s losses which led to erosion of net worth and weak financial risk profile. Rating also takes into account the ongoing slowdown in steel industry and stressed liquidity position. Payments terms seems to be slow and delayed. In view of aforesaid, the subject can be considered for business dealings at fully secured 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 |
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High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term rating : D (Issuer non-cooperative) |
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Rating Explanation |
Lowest-credit-quality and very prospects of recovery |
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Date |
23.01.2018 |
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Rating Agency Name |
CARE |
|
Rating |
Short term rating : D (Issuer non-cooperative) |
|
Rating Explanation |
Lowest-credit-quality and very prospects of recovery |
|
Date |
23.01.2018 |
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 19.04.2018
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 DECLINED
Management non-cooperative Tel No.: 91-22-66563500
(Tel No.: 91-22-30418111/67463214 - Continuously Ringing)
LOCATIONS
|
Registered Office/ Marketing Office 1 : |
4th Floor, Uttam House, 69, P.D Mello Road, Mumbai-400009, Maharashtra, India |
|
Tel. No.: |
91-22-30418111 /66563500 |
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Fax No.: |
91-22-30418260/ 23481831/ 23482827 |
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E-Mail : |
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Website : |
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Location : |
Rented |
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Locality: |
Commercial |
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Factory 1/ Steel Plant/ Works : |
Uttam Nagar, Bhugaon Link Road, Wardha-442001, Maharashtra, India |
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Factory 2/ Engineering Plant: |
Plot No. A-5/5 and A-6/3 MIDC Industrial Area, Murbad District Thane, Maharashtra, India |
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Mumbai Office : |
Trade World, C-Wing, 16th Floor, Kamala, Senapati Bapat Marg, Mumbai-400013, Maharashtra, India |
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Marketing Offices: |
Located at : ·
Delhi: 501, Pragati House, 48, Nehru Place, New Delhi – 110 019, India Tel. No.: 91-11-46597681/9 Fax. 91-11-26451595 Email. smnarang@uttamvalue.com ·
Chennai: Sanmach Executive Centre, 244, Mount Road, IInd Floor, Chennai – 600
006, Tamilnadu, India Tel.: 91-44-24352845 Email: kannan@uttamvalue.com ·
Bangalore: No.76 Kasturi Complex, Mission Road,
Bangalore – 560 027, Karnataka, India Tel.: 91-80-2123092/91 Fax.: 91-80-2123092 Email: skrao@uttamvalue.com ·
Hyderabad: 318, 3rd Floor, Mittal Chambers, 2-2-51,
Pan Bazar, M.G. Road, Secunderabad – 500 003, Telangana, India Tel.: 91-40
-2771 7141 Email.: sbkaplay@uttamvalue.com ·
Kolkata: Chaterjee International Centre, 16th floor, Room No. A-8,
33-A, Chowrangee, Kolkata – 700 071, West Bengal, India Tel.: 91-33-22175903 Fax.: 91-33-22260928 Email.: cal_verma@uttamvalue.com |
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Branch Offices : |
Located At:
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DIRECTORS
As on: 2018
|
Name : |
Mr. Rajinderkumar Uttamchand Miglani |
|
Designation : |
Director |
|
Address : |
21-B, Embassy Apartments 46, Nepean Sea Road, Mumbai –
400036, Maharashtra, India |
|
Date of Appointment : |
06.112015 |
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DIN No.: |
00286788 |
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Name : |
Mr. Bihari Lal Khurana |
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Designation : |
Director |
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Address : |
H. No. E-150, Forest Lane Sainik Farm, New Delhi -110062,
India |
|
Date of Appointment : |
29.05.2015 |
|
DIN No.: |
00671592 |
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|
Name : |
Mr. Brij Lal Khanna |
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Designation : |
Director |
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Address : |
H-454, New Rajinder Nagar, New Delhi-110060, India |
|
Date of Appointment : |
20.06.2012 |
|
DIN No.: |
00841927 |
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|
Name : |
Mr. Rajiv Krishnakumar Munjal |
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Designation : |
Director |
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Address : |
Flat No. 106, Ground Floor, Jasola Vihar, Pocket-1, New
Delhi-110025, India |
|
Date of Appointment : |
28.12.2012 |
|
DIN No.: |
05195651 |
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|
|
Name : |
Mr. Jagath Mahesh Chandra |
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Designation : |
Director |
|
Address : |
32, Palace Orchard, Apartment 6/ A, Cross, Bangalore
North, Bangalore – 560080, Karnataka, India |
|
Date of Appointment : |
30.05.2016 |
|
DIN No.: |
07147686 |
|
|
|
|
Name : |
Mr. Rajeev Kumar |
|
Designation : |
Nominee Director |
|
Address : |
E-33, IDBI Flats, Maker Kundan Garden Juhu Tara Road, Near Sndt College, Santacruz, Mumbai-400049, Maharashtra, India |
|
Date of Appointment : |
23.12.2016 |
|
DIN No.: |
01879049 |
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|
|
|
Name : |
Arvind Kumar Gupta |
|
Designation : |
Additional Director |
|
Address : |
65/19 New Rohtak Road, New Delhi 110005, India |
|
Date of Appointment : |
19.01.2018 |
|
DIN No.: |
03203379 |
KEY EXECUTIVES
|
Name : |
Mr. Ram Motilal Gaud |
|
Designation : |
Seiner General Manager and Company Secretary |
|
Address : |
C-26/511/5, Panchavti Co-Operative Housing Society,
Charkop, Kandivali (West), Mumbai-400067, Maharashtra, India |
|
Date of Appointment : |
28.12.2012 |
|
PAN No.: |
ACCPG6705E |
|
|
|
|
Name : |
Mr. Rajendra Prasad Gupta |
|
Designation : |
Chief Finance Officer |
|
Address : |
M- 3/C-2 Lloyds Main Colony Bhugaon Link Road Lloyds
Steels Industries Limited, Wardha-442001, Maharashtra, India |
|
Date of Appointment : |
14.08.2015 |
|
PAN No.: |
ABGPG9511M |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2018
|
Category of shareholder |
No. of fully paid up equity shares held |
Shareholding as a % of total no. of
shares (calculated as per SCRR, 1957)As a % |
|
|
(A) Promoter & Promoter Group |
3047361160 |
46.12 |
|
|
(B) Public |
3560715175 |
53.88 |
|
|
Grand Total |
6608076335 |
100.00 |
Statement showing shareholding pattern of the Promoter and
Promoter Group
|
Category of shareholder |
No. of fully paid up equity shares held |
Shareholding as a % of total no. of shares
(calculated as per SCRR, 1957)As a % of (A+B+C2) |
|
|
A1) Indian |
|||
|
Any
Other (specify) |
3047361160 |
46.12 |
|
|
METALLURGICAL ENGINEERING AND
EQUIPMENTS LIMITED |
929173815 |
14.06 |
|
|
FIRSTINDIA INFRASTRUCTURE
PRIVATE LIMIED |
2118187345 |
32.05 |
|
|
Sub
Total A1 |
3047361160 |
46.12 |
|
|
A2) Foreign |
0.00 |
||
|
A=A1+A2 |
3047361160 |
46.12 |
Statement showing shareholding pattern of the Public
shareholder
|
Category & Name of the Shareholders |
No. of fully paid up equity shares held |
Shareholding % calculated as per SCRR,
1957 As a % of |
|
|
B1)
Institutions |
|
|
|
|
Mutual
Funds/ |
2923095 |
0.04 |
|
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Financial
Institutions/ Banks |
879483995 |
13.31 |
|
|
IDBI BANK LIMITED |
658084684 |
9.96 |
|
|
STATE BANK OF INDIA PERSONAL
BANKING BRANCH MUMBAI |
193805645 |
2.93 |
|
|
Any
Other (specify) |
300000 |
0.00 |
|
|
Sub
Total B1 |
882707090 |
13.36 |
|
|
B2)
Central Government/ State Government(s)/ President of India |
0 |
0.00 |
|
|
Central
Government/ State Government(s)/ President of India |
7500 |
0.00 |
|
|
Sub
Total B2 |
7500 |
0.00 |
|
|
B3)
Non-Institutions |
0 |
0.00 |
|
|
Individual
share capital upto INR 0.200 million |
653322091 |
9.89 |
|
|
Individual
share capital in excess of INR 0.200 million |
497135762 |
7.52 |
|
|
NBFCs
registered with RBI |
251048 |
0.00 |
|
|
Any
Other (specify) |
1527291684 |
23.11 |
|
|
Bodies Corporate |
886214132 |
13.41 |
|
|
Shree Global Tradefin Limited |
696698156 |
10.54 |
|
|
Ragini Trading &
Investments Limited |
71223430 |
1.08 |
|
|
Clearing Members |
67290214 |
1.02 |
|
|
Non-Resident Indian (NRI) |
93737945 |
1.42 |
|
|
Overseas Corporate Bodies |
480034893 |
7.26 |
|
|
Metal Industrial Pte Limited |
480034893 |
7.26 |
|
|
Trusts |
14500 |
0.00 |
|
|
Sub
Total B3 |
2678000585 |
40.53 |
|
|
B=B1+B2+B3 |
3560715175 |
53.88 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of manufacturing of Steel and Capital Equipment products. (Registered Activity) |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS : NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees
(As on 2017) : |
1096 (Approximately) |
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Bankers : |
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Facilities : |
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Statutory Auditor : |
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|
Name : |
Todarwal and Todarwal Chartered Accountants |
|
Address : |
Mumbai, Maharashtra, India |
|
|
|
|
Internal Auditor : |
|
|
Name : |
Ernst and Young
LLP Chartered Accountants |
|
Address : |
Mumbai, Maharashtra, India |
|
|
|
|
Memberships : |
Not Available |
|
|
|
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Collaborators : |
Not Available |
|
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|
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Associates (As on 31.03.2017): |
·
Indrajit Power Private Limited |
|
|
|
|
Enterprise over
which key management personnel /relatives have
significant influence (As on 31.03.2017): |
·
Uttam
Galva Metallics Limited ·
Uttam
Galva Steels Limited ·
Sainath
Trading Company Private Limited ·
Kredence
Multi Trading Limited ·
Grow
Well Mercantile Private Limited · Lloyds Steel Industries Limited |
CAPITAL STRUCTURE
As on 31.03.2018
Authorized Capital: Not Available
Issued, Subscribed & Paid-up Capital: INR 6701.400
Million
As on 31.03.2017
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000000 |
Equity Shares |
INR 1/- each |
INR 15000.000 Million |
|
500000000 |
Cumulative Redeemable Preference Shares |
INR 10/- each |
INR 5000.000 Million |
|
|
Total |
|
INR 20000.000
Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6608076335 |
Equity Shares |
INR 1/- each |
INR 6608.100 Million |
|
9325420 |
Redeemable Preference Shares |
INR 10/- each |
INR 93.300 Million |
|
|
Total |
|
INR 6701.400
Million |
Reconciliation of
the shares outstanding at the beginning and at the end of the year:
|
|
As at 31st March 2017 |
|
|
Particulars |
No. of Shares |
Amount |
|
Equity Shares |
|
|
|
At the beginning of the Year |
6608076335 |
6608.100 |
|
Reduced as per Demerger Scheme ( INR 5 each) |
- |
- |
|
Split as per Demerger Scheme ( INR 1 each) |
- |
- |
|
Outstanding at the
end of the Year |
6608076335 |
6608.100 |
|
|
|
|
|
Redeemable Preference
Shares |
|
|
|
At the beginning of the Year |
9325420 |
93.300 |
|
Outstanding at the
end of the Year |
9325420 |
93.300 |
Terms and Rights
attached to equity shares:
The
company has only one class of shares having a par value at INR 1/- per share.
Each holder of equity shares is entitled to one vote per share.
Terms and Rights
attached to redeemable preference shares:
The
Redeemable preference shares will be redeemed with a premium of 11.50 % in
6(six) annual installments commencing from financial year 2016. No such shares
shall be redeemed except out of the profits of the company which would
otherwise be available for dividend or out of the proceeds of the fresh issue of
shares made for the purpose of the redemption
Details of
shareholders holding more than 5% shares in the company:
|
|
31.03.2017 |
|
|
Name of Shareholder |
No. of Shares |
(% holding in the class) |
|
Equity shares of INR
1 each fully paid (P.Y. INR 10 each) Firstindia Infrastructure Private Limited |
2118187345 |
32.05% |
|
Metallurgical Engineering and Equipments Limited |
929173815 |
14.06% |
|
Shree Global Tradefin Limited |
866778005 |
13.12% |
|
IDBI Bank Limited |
660806892 |
10.00% |
|
UD Industrial Holding Pte. Limited |
635483870 |
9.62% |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET (STANDLONE)
|
SOURCES OF FUNDS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
6701.400 |
6701.400 |
6701.400 |
|
(b) Reserves &
Surplus |
(17360.900) |
(13933.400) |
(8841.000) |
|
(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) |
(10659.500) |
(7232.000) |
(2139.600) |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
2616.100 |
7242.900 |
7320.500 |
|
(b) Deferred tax
liabilities (Net) |
286.500 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
11396.200 |
14187.300 |
14363.600 |
|
(d) long-term provisions |
331.700 |
299.700 |
281.600 |
|
Total Non-current
Liabilities (3) |
14630.500 |
21729.900 |
21965.700 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
11525.000 |
11281.600 |
5295.100 |
|
(b) Trade payables |
8423.900 |
9574.400 |
15655.600 |
|
(c) Other current
liabilities |
10610.500 |
3249.300 |
1587.500 |
|
(d) Short-term provisions |
17.600 |
17.500 |
12.900 |
|
Total Current Liabilities
(4) |
30577.000 |
24122.800 |
22551.100 |
|
|
|
|
|
|
TOTAL |
34548.000 |
38620.700 |
42377.200 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
23867.400 |
23712.200 |
25102.100 |
|
(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 |
175.700 |
175.700 |
175.700 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
6205.000 |
7385.400 |
|
(e) Other Non-current
assets |
6104.900 |
0.000 |
0.000 |
|
Total Non-Current Assets |
30148.000 |
30092.900 |
32663.200 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1626.500 |
3633.400 |
3365.200 |
|
(c) Trade receivables |
1353.600 |
3131.700 |
3583.100 |
|
(d) Cash and cash
equivalents |
82.900 |
596.700 |
709.600 |
|
(e) Short-term loans and
advances |
0.000 |
847.000 |
1706.300 |
|
(f) Other current assets |
1337.000 |
319.000 |
349.800 |
|
Total Current Assets |
4400.000 |
8527.800 |
9714.000 |
|
|
|
|
|
|
TOTAL |
34548.000 |
38620.700 |
42377.200 |
PROFIT
& LOSS ACCOUNT (STANDLONE)
|
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
26362.600 |
35116.300 |
37429.000 |
|
|
Other Income |
741.300 |
461.100 |
345.400 |
|
|
TOTAL |
27103.900 |
35577.400 |
37774.400 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
17475.700 |
14999.700 |
14184.200 |
|
|
Purchases of
Stock-in-Trade |
143.000 |
13440.800 |
14563.100 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
2145.700 |
(564.400) |
3590.600 |
|
|
Employees benefits
expense |
711.300 |
682.300 |
738.800 |
|
|
Other expenses |
7517.700 |
6942.000 |
6153.000 |
|
|
Exceptional items |
0.000 |
1126.500 |
0.000 |
|
|
TOTAL |
27993.400 |
36626.900 |
39229.700 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
(889.500) |
(1049.500) |
(1455.300) |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
2393.300 |
2589.100 |
2573.700 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
(3282.800) |
(3638.600) |
(4029.000) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1375.400 |
1453.800 |
1172.400 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
(4658.200) |
(5092.400) |
(5201.400) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX |
(4658.200) |
(5092.400) |
(5201.400) |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE BROUGHT FORWARD |
(13933.400) |
(8841.000) |
(19277.600) |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer as per Demerger Scheme |
NA |
0.000 |
(15638.000) |
|
|
Transfer from Depreciation Reserve |
NA |
0.000 |
0.000 |
|
|
Total |
NA |
0.000 |
(15638.000) |
|
|
|
|
|
|
|
|
Balance Carried to the B/S |
NA |
(13933.400) |
(8841.000) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
NA |
135.700 |
0.000 |
|
|
TOTAL EARNINGS |
NA |
135.700 |
0.000 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
NA |
0.000 |
197.000 |
|
|
Production consumables,
stores and spares |
NA |
224.000 |
462.600 |
|
|
TOTAL IMPORTS |
NA |
224.000 |
659.600 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
|
|
|
Basic and Diluted (before Exceptional items) |
(0.70) |
(0.60) |
(0.79) |
|
|
Basic and Diluted (after Exceptional items) |
(0.70) |
(0.77) |
(0.79) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Current Maturities of Long term debt |
NA |
1365.700 |
1067.200 |
|
Cash generated from/(used in) operations |
NA |
(4737.000) |
2386.500 |
|
Net cash flow from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
18.74 |
32.55 |
34.94 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
19.48 |
11.21 |
10.45 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
174.51 |
122.88 |
198.78 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
(0.55) |
(0.29) |
(0.43) |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
(0.04) |
(0.04) |
(0.06) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.96 |
0.85 |
0.73 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
(1.33) |
(2.75) |
(6.40) |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
(2.87) |
(3.34) |
(10.54) |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
(2.24) |
(3.28) |
(11.73) |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
(0.37) |
(0.41 |
(0.57) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
(17.67) |
(14.50) |
(13.90) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
(13.48) |
(13.19) |
(12.27) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
43.70 |
70.41 |
243.10 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Current Ratio (Current Assets / Current Liabilities) |
0.14 |
0.35 |
0.43 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.09 |
0.20 |
0.28 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
(0.31) |
(0.19 |
(0.05) |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
2.11 |
2.97 |
2.04 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
0.14 |
0.35 |
0.43 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
STOCK
PRICES
|
Face Value |
INR 1.00/- |
|
Market value |
INR 0.24/- |
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2016 |
31.03.2017 |
31.03.2018 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
6701.400 |
6701.400 |
6701.400 |
|
Reserves & Surplus |
(8841.000) |
(13933.400) |
(17360.900) |
|
Net
worth |
(2139.600) |
(7232.000) |
(10659.500) |
|
|
|
|
|
|
long-term borrowings |
7320.500 |
7242.900 |
2616.100 |
|
Short term borrowings |
5295.100 |
11281.600 |
11525.000 |
|
Total
borrowings |
12615.600 |
18524.500 |
14141.100 |
|
Debt/Equity
ratio |
(5.896) |
(2.561) |
(1.327) |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2016 |
31.03.2017 |
31.03.2018 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
37429.000 |
35116.300 |
26362.600 |
|
|
|
(6.179) |
(24.928) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2016 |
31.03.2017 |
31.03.2018 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
37429.000 |
35116.300 |
26362.600 |
|
Profit/(Loss) |
(5201.400) |
(5092.400) |
(4658.200) |
|
|
(13.90%) |
(14.50%) |
(17.67%) |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2018 |
31.03.2017 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
6701.400 |
6701.400 |
|
(b) Reserves &
Surplus |
|
(16698.100) |
(13263.800) |
|
(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) |
|
(9996.700) |
(6562.400) |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
2616.100 |
7242.900 |
|
(b) Deferred tax
liabilities (Net) |
|
286.500 |
0.000 |
|
(c) Other long term
liabilities |
|
11396.200 |
14187.300 |
|
(d) long-term provisions |
|
331.700 |
299.700 |
|
Total Non-current
Liabilities (3) |
|
14630.500 |
21729.900 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
11525.000 |
11281.600 |
|
(b) Trade payables |
|
8423.900 |
9574.400 |
|
(c) Other current
liabilities |
|
10610.400 |
3249.300 |
|
(d) Short-term provisions |
|
17.600 |
17.500 |
|
Total Current Liabilities
(4) |
|
30576.900 |
24122.800 |
|
|
|
|
|
|
TOTAL |
|
35210.700 |
39290.300 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
23867.400 |
23712.200 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets
under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
838.500 |
845.200 |
|
(c) Deferred tax assets
(net) |
|
6104.900 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
6205.000 |
|
(e) Other Non-current
assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
30810.800 |
30762.400 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
1626.500 |
3633.400 |
|
(c) Trade receivables |
|
1353.600 |
3131.700 |
|
(d) Cash and cash
equivalents |
|
82.800 |
596.700 |
|
(e) Short-term loans and
advances |
|
0.000 |
847.100 |
|
(f) Other current assets |
|
1337.000 |
319.000 |
|
Total Current Assets |
|
4399.900 |
8527.900 |
|
|
|
|
|
|
TOTAL |
|
35210.700 |
39290.300 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2018 |
31.03.2017 |
|
|
SALES |
|
|
|
|
|
Income |
|
26362.600 |
35116.300 |
|
|
Other Income |
|
741.300 |
461.100 |
|
|
TOTAL |
|
27103.900 |
35577.400 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
17475.700 |
14999.700 |
|
|
Purchases of
Stock-in-Trade |
|
143.000 |
13440.800 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
2145.700 |
(564.400) |
|
|
Employees benefits
expense |
|
711.300 |
682.300 |
|
|
Other expenses |
|
7517.700 |
6942.000 |
|
|
Exceptional Item |
|
0.000 |
1126.500 |
|
|
TOTAL |
|
27993.400 |
36626.900 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
(889.500) |
(1049.500) |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
2393.300 |
2589.100 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
(3282.800) |
(3638.600) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
1375.400 |
1453.800 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
(4658.200) |
(5092.400) |
|
|
|
|
|
|
|
Less |
TAX |
|
0.000 |
15.800 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX |
|
(4658.200) |
(5108.200) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
|
|
|
Basic and Diluted (before Exceptional items) |
|
(0.70) |
(0.60) |
|
|
Basic and Diluted (after Exceptional items) |
|
(0.70) |
(0.77) |
LEGAL
CASES
|
LITIGATION DETAILS |
||||||
|
Bench:- Bombay |
||||||
|
Presentation
Date:- 22/12/2017 |
||||||
|
Lodging No. : |
ITXAL/3171/2017 |
Filing Date:- |
22/12/2017 |
Reg.
No.:- |
ITXA/655/2018 |
|
|
Reg.
Date:- |
23/02/2018 |
|
|
|
|
|
|
Petitioner:- |
PRINCIPAL COMMISSIONER OF INCOME TAX (CENTRAL ) -4 |
Respondent:- |
UTTAM VALUE STEELS LIMITED |
|||
|
Petn.Adv:- |
TEJVEER SINGH MASTAN SINGH (I3678) |
|
RAHUL K HAKANI AND N. C. JADHAV (0) |
|||
|
District:- |
MUMBAI |
|||||
|
Bench:- |
DIVISION |
Category:- |
TAX APPEALS |
|||
|
Status:- |
Pre-Admission |
Stage:- |
-- |
|||
|
Last
Date:- |
09/03/2018 |
Stage:- |
-- |
|||
|
Last
Coram:- |
ACCORDING TO SITTING LIST ACCORDING TO SITTING LIST |
|
||||
|
Act. : |
Income Tax Act, 1961 |
Under Section: |
260A |
|||
|
LITIGATION DETAILS |
||||||
|
Bench:- Bombay |
||||||
|
Presentation
Date:- 22/12/2017 |
||||||
|
Lodging No. : |
ITXAL/3170/2017 |
Filing Date:- |
22/12/2017 |
Reg.
No.:- |
ITXA/664/2018 |
|
|
Reg.
Date:- |
24/02/2018 |
|
|
|
|
|
|
Petitioner:- |
PRINCIPAL COMMISSIONER OF INCOME TAX (CENTRAL ) -4 |
Respondent:- |
UTTAM VALUE STEELS LIMITED |
|||
|
Petn.Adv:- |
TEJVEER SINGH MASTAN SINGH (I3678) |
|
RAHUL K HAKANI AND NEELAM C JADHAV (0) |
|||
|
District:- |
MUMBAI |
|||||
|
Bench:- |
DIVISION |
Category:- |
TAX APPEALS |
|||
|
Status:- |
Pre-Admission |
Stage:- |
-- |
|||
|
Last
Date:- |
09/03/2018 |
Stage:- |
-- |
|||
|
Last
Coram:- |
ACCORDING TO SITTING LIST ACCORDING TO SITTING LIST |
|
||||
|
Act. : |
Income Tax Act, 1961 |
Under Section: |
260A |
|||
|
LITIGATION DETAILS |
||||||
|
Bench:- Bombay |
||||||
|
Presentation
Date:- 22/12/2017 |
||||||
|
Lodging No. : |
ITXAL/3174/2017 |
Filing Date:- |
22/12/2017 |
Reg.
No.:- |
|
|
|
Reg.
Date:- |
|
|
|
|
|
|
|
Petitioner:- |
PRINCIPAL COMMISSIONER OF INCOME TAX (CENTRAL ) -4 |
Respondent:- |
UTTAM VALUE STEELS LIMITED |
|||
|
Petn.Adv:- |
TEJVEER SINGH MASTAN SINGH (I3678) |
|
RAHUL K HAKANI AND NEELAM C JADHAV (0) |
|||
|
District:- |
MUMBAI |
|||||
|
Bench:- |
DIVISION |
Category:- |
TAX APPEALS |
|||
|
Status:- |
Pre-Admission |
Stage:- |
-- |
|||
|
Last
Date:- |
19/03/2018 |
Stage:- |
-- |
|||
|
Last
Coram:- |
ACCORDING TO SITTING LIST ACCORDING TO SITTING LIST |
|
||||
|
Act. : |
Income Tax Act, 1961 |
Under Section: |
260A |
|||
|
LITIGATION DETAILS |
||||||
|
Bench:- Bombay |
||||||
|
Presentation
Date:- 22/12/2017 |
||||||
|
Lodging No. : |
ITXAL/3173/2017 |
Filing Date:- |
22/12/2017 |
Reg.
No.:- |
|
|
|
Reg.
Date:- |
|
|
|
|
|
|
|
Petitioner:- |
PRINCIPAL COMMISSIONER OF INCOME TAX (CENTRAL ) -4 |
Respondent:- |
UTTAM VALUE STEELS LIMITED |
|||
|
Petn.Adv:- |
TEJVEER SINGH MASTAN SINGH (I3678) |
|
RAHUL K HAKANI AND NEELAM C JADHAV (0) |
|||
|
District:- |
MUMBAI |
|||||
|
Bench:- |
DIVISION |
Category:- |
TAX APPEALS |
|||
|
Status:- |
Pre-Admission |
Stage:- |
-- |
|||
|
Last
Date:- |
15/03/2018 |
Stage:- |
-- |
|||
|
Last
Coram:- |
ACCORDING TO SITTING LIST ACCORDING TO SITTING LIST |
|
||||
|
Act. : |
Income Tax Act, 1961 |
Under Section: |
260A |
|||
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 |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
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 |
NOTE:
The Registered office of the company has been shifted from Trade World, ‘C’ Wing, 16th Floor, Kamala City, Senapati Bapat Marg, Lower Parel, Mumbai - 400013, Maharashtra, India, to the present address.
UNSECURED LOAN:
|
PARTICULARS |
31.03.2018 (INR
in Million) |
31.03.2017 (INR
in Million) |
|
Long Term
Borrowings |
|
|
|
Deferred Payment Liabilities |
|
|
|
Sales Tax Deferral |
NA |
1820.700 |
|
Loan from Related Parties |
NA |
0.000 |
|
TOTAL |
NA |
1820.700 |
INDEX OF CAHREGS:
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
C67479204 |
10597470 |
Union Bank of India |
22/09/2015 |
- |
- |
500000000.0 |
239, Vidhan Bhavan Marg,Nariman point Mumbai MH 400021 IN |
|
2 |
C04601399 |
10494915 |
IDBI Bank Limited |
11/04/2014 |
- |
- |
2531300000.0 |
IDBI TOWERWTC COMPLEXCUFFE PARADEMUMBAIMH400005IN |
|
3 |
C10775500 |
10450652 |
Axis Trustee Services Limited |
25/09/2013 |
14/07/2014 |
- |
6120000000.0 |
Axis House, 2nd Flr, Bombay Dyeing Mills Compound,Pandurang Budhkar Marg, Worli,MumbaiMH400025IN |
|
4 |
C10777522 |
10450654 |
Axis Trustee Services Limited |
25/09/2013 |
14/07/2014 |
- |
13900000000.0 |
Axis House, 2nd Flr, Bombay Dyeing Mills Compound,Pandurang Budhkar Marg, Worli,MumbaiMH400025IN |
|
5 |
Y10333770 |
90230979 |
INDUTRIAL DEVELOPMENT BANKOF INDIA |
18/03/1998 |
17/08/1999 |
- |
200000000.0 |
IDBI TOWERCUFFE PRADEMUMBAIWB400005IN |
|
6 |
B95109658 |
90230974 |
IDBI Bank Limited |
03/03/1998 |
23/01/2014 |
- |
250000000.0 |
IDBI TOWERWTC COMPLEXCUFFE PARADEMUMBAIMH400005IN |
|
7 |
Y10333749 |
90230958 |
INDUSTRIAL CEVALOPMENT O F INDAI |
29/10/1997 |
- |
- |
239600000.0 |
IDBI TOWER CUFFE PARADEMUMBAIMH400005IN |
|
8 |
Y10333645 |
90230854 |
INDUSTRIAL DEVELOPMENT BANK OF INDIA |
27/09/1995 |
27/11/1997 |
- |
600000000.0 |
IDBI TOWERMUMBAIMH400005IN |
|
9 |
Y10333619 |
90230828 |
THE INDUSTRIAL CREDIT AND INVESTMENT DEVALOPMENT BANK OF IND |
06/01/1995 |
23/12/1997 |
- |
250000000.0 |
IDBI TOWERMUMBAIMH400005IN |
|
10 |
Y10333554 |
90230763 |
INDUSTRIAL DEVALOPMENT BANK OF INDIA |
30/09/1993 |
- |
- |
200000000.0 |
OIDBI TOWERMUMBAIMH400005IN |
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2018 (INR
in Million) |
31.03.2017 (INR
in Million) |
|
Claims against the
company / disputed liabilities not acknowledged as Debts |
|
|
|
Show cause notices under hearing in respect of excise duty which is disputed by the company |
NA |
163.700 |
|
Income tax demand, disputed by the company |
NA |
2154.600 |
|
Sales Tax Liability |
NA |
60.100 |
|
Others claims not acknowledged as debts |
NA |
2.700 |
|
|
|
|
|
Guarantees |
|
|
|
Guarantees issued by the Company’s banker on behalf of the company. |
NA |
774.000 |
|
|
|
|
|
Other money for
which the company is contingently liable |
|
|
|
Bills Discounted |
NA |
0.000 |
|
Letter of credits opened by Banks |
NA |
0.400 |
|
|
|
|
|
COMMITMENTS |
|
|
|
Estimated amount of contracts remaining to be executed on capital account and not provided for (net of advances) |
NA |
12.900 |
FIXED ASSETS: (As on 31.03.2017)
- Land and Site Development
- Building
- Plant and Machinery
- Computer
- Electrical Installations
- Office Equipment
- Furniture and Fixtures
- Motor Vehicles
- Railway Siding
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 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 65.45 |
|
UK Pound |
1 |
INR 93.28 |
|
Euro |
1 |
INR 80.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
AKS |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
JYTK |
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 |
YES |
|
--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.