|
|
|
MIRA INFORM REPORT
|
Report No. : |
505111 |
|
Report Date : |
26.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
HANS ISPAT LIMITED (w.e.f. 27.06.2005) |
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|
|
Formerly Known
As : |
HANS ISPAT PRIVATE LIMITED |
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Registered
Office : |
A-1, Skylark Apartment, |
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Tel. No.: |
91-79-27678844 |
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Country : |
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|
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Financials (as
on) : |
31.03.2017 |
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|
|
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Date of
Incorporation : |
12.11.1991 |
|
|
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Com. Reg. No.: |
04-057955 |
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|
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Capital
Investment / Paid-up Capital : |
INR 364.200 Million |
|
|
|
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CIN No.: [Company Identification
No.] |
U51109GJ1991PLC057955 |
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|
|
|
IEC No.: [Import-Export Code No.] |
0605014043 |
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|
|
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TAN No.: [Tax Deduction & Collection
Account No.] |
RKTH00656F |
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|
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TIN No.: |
24010400862 |
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|
|
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GSTN : [Goods & Service Tax
Registration No.] |
24AABCH2447Q1ZC |
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|
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PAN No.: [Permanent Account No.] |
AABCH2447Q |
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|
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
The company is engaged in the manufacturing of |
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|
|
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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 : |
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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|
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Litigation : |
Exist |
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Comments : |
Subject operates as a wholly owned subsidiary of Electrotherm ( Rating is constrained on account of company’s weak financial profile
marked by huge accumulated losses recorded from last few years which has
eroded net worth of the company. The company has also recorded huge debt in the books and has
unfavourable gap between trade payables to its receivables. Moreover, it is also to be noted that the company is listed with RBI
defaulter and defaulted and defaulted hefty amount with Bank of Baroda
amounting INR 269.200 Million as on 31st December 2017. Payment terms are slow and delayed. In view of company’s weak financial profile, the company can be
considered for business dealings on fully safe and secured 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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
|
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 |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name has been found enlisted as a
defaulter in the publicly available RBI Defaulters’ list and the details of the
same are as under:
|
Borrowers’ Name : |
Hans Ispat Limited |
|
Address : |
A-1, Skylark Aparments, Oppsite Jodhpur
Bpolice Station Satellite, Ahmedabad-
380015, |
|
Name of Individual : |
Mukesh Bhanwarlal |
|
Name of Credit Grantors / Bank & Branch: |
Bank of |
|
Amount (INR In Millions) : |
INR 269.200 Million |
|
Bank |
Branch |
Quarter |
Borrower Name |
Director Details |
Outstanding
(INR) In Million |
|
Bank of |
GREATER KAILASH |
31-03-2017 |
HANS ISPAT LIMITED |
MUKESH BHANWARILAL BHANDARI |
290.400 |
|
Bank of |
GREATER KAILASH |
30.06.2017 |
HANS ISPAT LIMITED |
MUKESH BHANWARILAL BHANDARI |
290.400 |
|
Bank of |
GREATER KAILASH |
30.09.2017 |
HANS ISPAT LIMITED |
MUKESH BHANWARILAL BHANDARI |
290.400 |
|
Bank of |
GREATER KAILASH |
31.12.2017 |
HANS ISPAT LIMITED |
MUKESH BHANWARILAL BHANDARI |
290.400 |
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 26.04.2018
IBBI (Insolvency and Bankruptcy Board of
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. Jagdish |
|
Designation : |
Assistant Manager |
|
Contact No.: |
91-79-27676884 |
|
Date : |
21.02.218 |
LOCATIONS
|
Registered Office : |
A-1, Skylark Apartment, |
|
Tel. No.: |
91-79-27678844 |
|
Fax No.: |
91-79-26768855 |
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E-Mail : |
|
|
|
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Head Office : |
72, Palodia, (Via Thaltej), |
|
Tel. No.: |
91-2717-234553/54/55/56/57 |
|
Fax No.: |
91-2717-660628 / 237612 |
|
|
|
|
Works : |
Survey No. 5/P, 9-13, Village Bhudarpura, |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Mukesh Bhanwarlal Bhandari |
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Designation : |
Director |
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Address : |
A-1, Skylark Apartment, |
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Date of Birth/Age : |
05.08.1951 |
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Qualification : |
B.E. Electrical |
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|
Date of Appointment : |
30.09.2010 |
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DIN No.: |
00014511 |
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PAN No.: |
AALPB1974B |
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Other Directorship:
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||||||||||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Shailesh Bhanwarlal Bhandari |
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Designation : |
Director |
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Address : |
A-1, Skylark Apartment, |
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Date of Birth/Age : |
01.07.1958 |
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Qualification : |
B.SC |
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Date of Appointment : |
30.09.2010 |
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PAN No.: |
AALPB1973G |
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DIN No.: |
00058866 |
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Other Directorship:
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||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Avinash Prakashchandra Bhandari |
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Designation : |
Director |
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Address : |
24, Someshwar Complex, |
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Date of Birth/Age : |
29.09.1965 |
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Qualification : |
B.E.
/ M.S. / M.B.A. |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
30.09.2010 |
||||||||||||||||||||||||||||||||||||||||||||
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DIN No.: |
00058986 |
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PAN No.: |
ABRPB0303P |
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Other Directorship:
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||||||||||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Mahendrakumar Ramniklal Patira |
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Designation : |
Director |
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|
Address : |
Plot – 614, NU-04, Sapna Nagar, Gandhidham, Kutch-370201, |
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Date of Birth/Age : |
12.01.1955 |
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Qualification : |
Diploma
in Business Management and B.E. (MECH.) |
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|
Date of Appointment : |
30.09.2013 |
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DIN No.: |
06464397 |
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PAN No.: |
ACEPP7630B |
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Other Directorship:
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Name : |
Mr. Chaitanyapratap Harish Sharma |
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Designation : |
Director |
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Address : |
B/34, Satellite App., |
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Date of Birth/Age : |
06.07.1980 |
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Qualification : |
B. com with Specialization international marketing management and imports and exports |
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Date of Appointment : |
19.06.2015 |
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PAN No.: |
FUJPS5214L |
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DIN No.: |
07067095 |
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Other Directorship:
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||||||||||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Ravindra Mundrika Singh |
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Designation : |
Additional Director |
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Address : |
08, Om Sairam Society, Opposite D A V School, |
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Date of Appointment : |
17.03.2018 |
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DIN No.: |
08088332 |
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KEY EXECUTIVES
|
Name : |
Mr. Pawan Shrramautar Bharowaj Gaur |
|
Designation : |
Chief Financial Officer |
|
Address : |
E-502, Chinmay Crystal Towers, Opposite Vastrapur Lake,
Vastrapur, Ahmedabad – 380015, Gujarat, India |
|
Date of Appointment : |
30.09.2015 |
|
PAN No.: |
BITPG8518F |
|
|
|
|
Name : |
Mr. Mahendrakumar Ramniklal Patira |
|
Designation : |
Company Secretary |
|
Address : |
Plot – 614, NU-04, Sapna Nagar, Gandhidham, Kutch-370201, Gujarat, India |
|
Date of Birth/Age : |
12.01.1955 |
|
Qualification : |
Diploma in Business Management and B.E. (MECH.) |
|
Date of Appointment : |
01.10.2010 |
|
PAN No.: |
ACEPP7630B |
|
DIN No.: |
06464397 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Electrotherm (India) Limited, India |
|
36407900 |
|
Electrotherm (India) Limited, India Jointly with Mukesh Bhandari |
|
3000 |
|
Electrotherm (India) Limited, India Jointly with Nagesh Bhandari |
|
3000 |
|
Electrotherm (India) Limited, India Jointly with Shailesh Bhandari |
|
3000 |
|
Electrotherm (India) Limited, India Jointly with Siddharth Bhandari |
|
2000 |
|
Electrotherm (India) Limited, India Jointly with Narendra Dalal |
|
1000 |
|
Electrotherm (India) Limited, India Jointly with Avinash Bhandari |
|
100 |
|
Total |
|
36420000 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2017
|
Category |
Percentage |
|
Promoter - Bodies
corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in the manufacturing of TMT Bars, MS Round Bars, SS Flats, and MS Billets. (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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|
|
|
||||
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Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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|
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No. of Employees : |
Information declined by the management |
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|
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Bankers : |
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|
||||||||||||||||||||||||||||||||||||
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Facilities : |
|
|
Auditors : |
|
|
Name : |
Hitesh Prakash Shah and Company Chartered Accountants |
|
Address : |
B - 31, Ghantakaran Market, Near New Cloth Market, Sarangpur, Ahmedabad - 380002, Gujarat, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
APGPS0174L |
|
|
|
|
Secretarial Audit
Report : |
|
|
Name : |
Bharat Prajapti and Company |
|
Address : |
306, Shapath - III, Near GNFC Tower, Pakwan Cross Road, S. G. Highway, Bodakdev, Ahmedabad -380054, Gujarat, India |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding company: |
L29249GJ1986PLC009126 |
|
|
|
|
Fellow Subsidiary
Company : |
U21012GJ1995PLC064736 |
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
37000000 |
Equity Shares |
INR 10/- each |
INR 370.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
36420000 |
Equity Shares |
INR 10/- each |
INR 364.200
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR 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 |
364.200 |
364.200 |
364.200 |
|
(b) Reserves & Surplus |
(1150.274) |
(931.056) |
(593.733) |
|
(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) |
(786.074) |
(566.856) |
(229.533) |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
574.037 |
625.447 |
669.154 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
6.274 |
7.251 |
6.235 |
|
Total
Non-current Liabilities (3) |
580.311 |
632.698 |
675.389 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
65.040 |
65.040 |
72.656 |
|
(b) Trade payables |
879.768 |
856.602 |
669.026 |
|
(c) Other current liabilities |
175.999 |
131.301 |
123.951 |
|
(d) Short-term provisions |
2.404 |
3.119 |
0.000 |
|
Total
Current Liabilities (4) |
1123.211 |
1056.062 |
865.633 |
|
|
|
|
|
|
TOTAL |
917.448 |
1121.904 |
1311.489 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
331.723 |
370.581 |
372.434 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
23.269 |
|
(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 |
96.494 |
93.774 |
81.436 |
|
(e) Other Non-current assets |
0.011 |
6.692 |
13.739 |
|
Total
Non-Current Assets |
428.228 |
471.047 |
490.878 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
1.000 |
16.026 |
0.000 |
|
(b) Inventories |
163.414 |
262.974 |
594.303 |
|
(c) Trade receivables |
98.821 |
102.844 |
98.089 |
|
(d) Cash and cash equivalents |
60.502 |
106.198 |
59.440 |
|
(e) Short-term loans and
advances |
159.173 |
156.578 |
62.092 |
|
(f) Other current assets |
6.310 |
6.237 |
6.687 |
|
Total
Current Assets |
489.220 |
650.857 |
820.611 |
|
|
|
|
|
|
TOTAL |
917.448 |
1121.904 |
1311.489 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
3621.544 |
3663.577 |
3051.730 |
|
|
Other Income |
16.079 |
13.890 |
11.803 |
|
|
TOTAL
|
3637.623 |
3677.467 |
3063.533 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
2860.656 |
2501.027 |
2238.016 |
|
|
Purchases of Stock-in-Trade |
0.000 |
194.671 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
44.392 |
237.180 |
146.980 |
|
|
Employees benefits expense |
80.516 |
81.506 |
125.600 |
|
|
Prior period items |
1.802 |
0.000 |
0.000 |
|
|
Other expenses |
827.760 |
957.418 |
718.702 |
|
|
TOTAL |
3815.126 |
3971.802 |
3229.298 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
(177.503) |
(294.335) |
(165.765) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
1.461 |
3.024 |
30.456 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(178.964) |
(297.359) |
(196.221) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
40.254 |
39.964 |
39.317 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
(219.218) |
(337.323) |
(235.538) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(219.218) |
(337.323) |
(235.538) |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
0.000 |
8.007 |
8.007 |
|
|
TOTAL
EARNINGS |
0.000 |
0.000 |
8.007 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
0.000 |
68.418 |
26.589 |
|
|
Components and Stores parts |
0.712 |
1.133 |
1.177 |
|
|
TOTAL
IMPORTS |
0.712 |
69.551 |
27.766 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
(6.02) |
(9.26) |
(6.47) |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
142.318 |
108.286 |
73.375 |
|
Net cash flows from (used in) operations |
(45.761) |
194.677 |
199.192 |
|
Net cash flows from (used in) operating activities |
(61.070) |
76.528 |
148.692 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
9.96 |
10.25 |
11.73 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
36.65 |
35.62 |
31.11 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
112.25 |
115.98 |
109.11 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
(1.09) |
(1.12) |
(0.28) |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
(0.54) |
(0.79) |
(0.42) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
2.01 |
1.60 |
1.23 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
(0.99) |
(1.41) |
(3.55) |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
(1.43) |
(1.86) |
(3.77) |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
(0.42) |
(0.65) |
(1.72) |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
(121.49) |
(97.33) |
(5.44) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
(6.05) |
(9.21) |
(7.72) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
(23.89) |
(30.07) |
(17.96) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
27.89 |
59.51 |
102.62 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
0.44 |
0.62 |
0.95 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.29 |
0.37 |
0.26 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
-0.86 |
-0.51 |
-0.18 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
2.15 |
2.19 |
2.24 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
0.44 |
0.62 |
0.95 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
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 |
364.200 |
364.200 |
364.200 |
|
Reserves & Surplus |
(593.733) |
(931.056) |
(1150.274) |
|
Net
worth |
(229.533) |
(566.856) |
(786.074) |
|
|
|
|
|
|
Long Term borrowings |
669.154 |
625.447 |
574.037 |
|
Short Term borrowings |
72.656 |
65.040 |
65.040 |
|
Current Maturities of Long term debt |
73.375 |
108.286 |
142.318 |
|
Total
borrowings |
815.185 |
798.773 |
781.395 |
|
Debt/Equity
ratio |
(3.551) |
(1.409) |
(0.994) |
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
|
3051.730 |
3663.577 |
3621.544 |
|
|
|
20.049 |
(1.147) |
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
|
3051.730 |
3663.577 |
3621.544 |
|
Profit |
(235.538) |
(337.323) |
(219.218) |
|
|
(7.72%) |
(9.21%) |
(6.05%) |
LEGAL
CASES
HIGH COURT
|
KACHCHH STATE OF GUJARAT VS HANS ISPAT
LIMITED |
|
High Court: Gujarat |
|
Case No.: CR.MA/5508/2015 |
|
Case Status: Pending |
|
Judge: HON’BLE MR. JUSTICE – 1 |
|
Date: 2015-03-20 To 00:00:00Z |
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 |
No |
|
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 |
CORPOARTE INFORMATION
Subject (the company) is a public company domiciled in India and incorporated under provisions of the Companies Act, 1956. The company is engaged in the manufacturing of TMT Bars, MS Round Bars, SS Flats, and MS Billets.
OPERATIONS:
During the year ended on 31st March, 2017, the total revenue of the company was INR 3637.623 Million compared to revenue of INR 3677.468 Million of previous financial year. The Net Loss for the year is INR 219.218 Million as against loss of INR 337.323 Million of the previous financial year.
INDEX
OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
B58053851 |
10376392 |
STATE BANK OF INDIA |
21/08/2012 |
- |
- |
603000000.0 |
MID CORPORATE OVERSEAS BRACH, 3RD FLOORNAVJIVAN TRUST COMPLEX, NAVJIVAN P.O.AHMEDABADGJ380014IN |
|
2 |
C58664079 |
10306625 |
INVENT ASSETS SECURITISATION AND RECONSTRUCTION PRIVATE LIMITED |
05/09/2011 |
13/02/2015 |
- |
900100000.0 |
107, Jolly Maker Chambers No.2225, Nariman PointMumbaiMH400021IN |
|
3 |
C58675794 |
10306617 |
INVENT ASSETS SECURITISATION AND RECONSTRUCTION PRIVATE LIMITED |
05/09/2011 |
13/02/2015 |
- |
900100000.0 |
107, Jolly Maker Chambers No.2225, Nariman PointMumbaiMH400021IN |
|
4 |
B20649695 |
10306522 |
STATE BANK OF INDIA |
05/09/2011 |
- |
- |
122500000.0 |
MID CORPORATE OVERSEAS BRANCH, 3RD FLOOR,NAVJIVAN TRUST COMPLEX, NAVJIVAN P.O,AHMEDABADGJ380014IN |
|
5 |
B21978655 |
10244002 |
STATE BANK OF INDIA |
13/09/2010 |
- |
05/09/2011 |
634900000.0 |
OVERSEAS BRANCH, 3RD FLOOR, AMRIT JAYANTI BHAVANNAVJIVAN TRUST COMPLEX, NAVJIVAN P. O.AHMEDABADGJ380014IN |
|
6 |
B22134274 |
80012812 |
BANK OF BARODA |
22/10/2005 |
11/07/2007 |
05/09/2011 |
410000000.0 |
PLOT NO 322, SECTOR 12/BGANDHIDHAMGJ370201IN |
|
7 |
B22135115 |
10017228 |
BANK OF BARODA - STATE BANK OF INDIA |
21/07/2006 |
19/10/2006 |
05/09/2011 |
550000000.0 |
PLOT NO 322, SECTOR 12/BGANDHIDHAMGJ370201IN |
|
8 |
B21132659 |
80012813 |
SBI |
22/10/2005 |
- |
05/09/2011 |
150000000.0 |
3RD FLOOR, AMRIT JAYANTI BHAVANP O NAVJIVANAHMEDABADGJ380014IN |
|
9 |
A90271214 |
10055927 |
CENTURION BANK OF PUNJAB LIMITED |
24/05/2007 |
- |
01/07/2010 |
882000.0 |
DIWAN CHAMBER, PLOT NO 78SECTOR 1A, ABOVE HERO HONDA SHOWROOMGANDHIDHAMGJ370201IN |
|
10 |
A90306879 |
10055926 |
CENTURION BANK OF PUNJAB LIMITED |
24/05/2007 |
- |
01/07/2010 |
1260000.0 |
DIWAN CHAMBER, PLOT NO 78SECTOR 1A, ABOVE HERO HONDA SHOWROOMGANDHIDHAMGJ370201IN |
FIXED ASSETS
- Land
- Buildings
- Factory building
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Motor vehicles
- Office equipment
- 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 66.69 |
|
|
1 |
INR 93.13 |
|
Euro |
1 |
INR 81.42 |
INFORMATION DETAILS
|
Information
Gathered by : |
TJL |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SUJ |
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.