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|
MIRA INFORM REPORT
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Report No. : |
492159 |
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Report Date : |
15.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
BHAGWATI STEEL CAST PRIVATE LIMITED (w.e.f. 02.05.2012) |
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Formerly Known
As : |
BHAGWATI STEEL CAST LIMITED (w.e.f. 28.04.1995) BHAGWATI STEEL ROLLING MILLS LIMITED (w.e.f. 03.04.1995) BHAGWATI STEEL ROLLING MILLS PRIVATE LIMITED |
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Registered
Office : |
Unit No 601-A, 6th Floor, Western Edge-I, Kanakia, Spaces,
Dattapad Road, Off Western Express Highway, Borivali (East), Mumbai-400066,
Maharashtra |
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Tel. No.: |
91-22-40354444 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of Incorporation
: |
16.04.1984 |
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Com. Reg. No.: |
11-170753 |
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Capital
Investment / Paid-up Capital : |
INR 49.900 Million |
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CIN No.: [Company Identification
No.] |
U27101MH1984PTC170753 |
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IEC No.: |
0301013101 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACB8416C |
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GSTIN : |
27AAACB8416C1Z1 |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Trading of TMT Bars / Billets. (Registered activity) |
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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 : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Exist |
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Comments : |
Subject was incorporated in the year 1984. It is a manufacturer, trader, exporter and importer of TMT bars and billets. For the financial year ended 2017, the company has achieved an average growth of 4.19% in its revenue as compared to the previous year’s revenue and has reported a low profitability margin of 0.33%. The company possesses fair financial profit marked by adequate net worth base along with debt level and moderate liquidity position. 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 condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term Rating = BBB |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
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Date |
17.04.2017 |
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Rating Agency Name |
CRISIL |
|
Rating |
Short term Rating = A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
17.04.2017 |
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
31-03-2016.
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 16.02.2018
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. Amit Burakia |
|
Designation : |
Whole-time director |
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Contact No.: |
91-9819198999 |
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Date : |
14.02.2018 |
MANAGEMENT NON-COOPERATIVE (TEL No.: 91-22-40354444)
LOCATIONS
|
Registered/ Head Office : |
Unit No 601-A, 6th Floor, Western Edge-I, Kanakia, Spaces, Dattapad Road,
Off Western Express Highway, Borivali (East), Mumbai-400066, Maharashtra,
India |
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Tel. No.: |
91-22-40354444 |
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Mobile No.: |
91-9819198999 (Mr. Amit Burakia) |
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Fax No.: |
91-22-40967121 / 40354432 |
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E-Mail : |
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Website : |
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Area : |
5000 Sq. Ft |
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Location : |
Owned |
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Locality : |
Commercial |
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Factory 1 : |
D-101, MIDC, Malegaon, Sinnar, District Nashik-422113, Maharashtra,
India |
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Factory 2 : |
Plot No. 144/1/2/1/1, Athal Industrial Estate, Luhari Road, Athal,
Silvassa -396230, Dadra and Nagar Haveli (U.T.), India |
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Factory 3 : |
G-7/G8, MIDC, Malegaon, Sinnar, District Nashik-422113, Maharashtra,
India |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Mahendra Kumar Agarwal |
|
Designation : |
Managing director |
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Address : |
1203/1204, Gardenia B Wing, Vasant Valley Malad (East), Mumbai-400097,
Maharashtra, India |
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Date of Birth/Age : |
05.08.1954 |
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Qualification : |
B
Com |
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Date of Appointment : |
01.06.2012 |
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PAN No.: |
ABTPA8760H |
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DIN No.: |
00061653 |
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Name : |
Mr. Amit Burakia |
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Designation : |
Whole-time director |
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Address : |
1203/1204, Gardenia Vasant Valley, Filmcity Road, Malad (East), Mumbai-
400097, Maharashtra, India |
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Date of Birth/Age : |
15.08.1976 |
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Qualification : |
B
Tech |
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Date of Appointment : |
01.06.2012 |
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PAN No.: |
ABUPA6908N |
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DIN No.: |
00061620 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Mahendra Kumar Agarwal |
|
672950 |
|
Bimala Devi Agarwal |
|
218350 |
|
Amit Burakia |
|
676000 |
|
Mahendra and Co. (Assam) Private Limited, India |
|
478000 |
|
Abhishek Investment (India) Private Limited, India |
|
255000 |
|
Smith Builders Private Limited, India |
|
175000 |
|
Prag Innovation Private Limited, India |
|
179750 |
|
Mahendra Kumar Agarwal and Sons – HUF |
|
106550 |
|
Shruti Finance Service Private Limited, India |
|
80000 |
|
Burakia Trades Private Limited, India |
|
474000 |
|
Amberin Trades Private Limited, India |
|
474000 |
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Krishna Singhania |
|
14000 |
|
Manisha Sharma |
|
20900 |
|
M Sons HUF |
|
7000 |
|
Mukesh Singhania |
|
21000 |
|
Yuvaan Infrastructure Private Limited, India |
|
1137500 |
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|
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|
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Total |
|
4990000 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2017
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided
Family – Indian) |
33.54 |
|
Promoter - Bodies
corporate |
56.48 |
|
Public – (Individual/ Hindu
Undivided Family – Indian) |
8.71 |
|
Public – Others |
1.26 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Trading of TMT Bars / 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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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 : |
Information declined by the management |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
K. M. Gara and Company Chartered Accountants |
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Address : |
603-604, Unique Tower, Off S V Road, Goregaon (West), Mumbai - 400062, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAEFK4654J |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiary : |
U51420MH2003PTC140790 |
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Associates : |
U51420MH2003PTC140767
U45400MH2012PTC232741 |
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Other Related
Parties : |
U27109AS1988PTC003094
U67120AS1994PTC004057 |
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5500000 |
Equity Shares |
INR 10/- each |
INR 55.000 Million |
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|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4990000 |
Equity Shares |
INR 10/- each |
INR 49.900
Million |
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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 |
49.900 |
49.900 |
49.900 |
|
(b) Reserves and Surplus |
227.637 |
215.307 |
204.228 |
|
(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) |
277.537 |
265.207 |
254.128 |
|
|
|
|
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
92.511 |
149.328 |
189.997 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.640 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
6.328 |
6.498 |
5.207 |
|
Total Non-current
Liabilities (3) |
98.839 |
155.826 |
195.844 |
|
|
|
|
|
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(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
252.738 |
289.735 |
210.975 |
|
(b) Trade
payables |
135.843 |
223.935 |
188.290 |
|
(c) Other
current liabilities |
111.937 |
85.830 |
92.593 |
|
(d) Short-term
provisions |
8.074 |
12.035 |
10.001 |
|
Total Current
Liabilities (4) |
508.592 |
611.535 |
501.859 |
|
|
|
|
|
|
TOTAL |
884.968 |
1032.568 |
951.831 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
184.198 |
219.625 |
275.300 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Tangible assets capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.320 |
0.320 |
0.775 |
|
(c) Deferred tax assets (net) |
8.503 |
5.910 |
0.000 |
|
(d)
Long-term loans and advances |
14.073 |
10.554 |
7.971 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
207.094 |
236.409 |
284.046 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
249.829 |
315.113 |
265.799 |
|
(c) Trade
receivables |
331.386 |
373.365 |
324.067 |
|
(d) Cash and
bank balances |
25.139 |
18.983 |
21.751 |
|
(e)
Short-term loans and advances |
18.050 |
14.480 |
16.827 |
|
(f) Other current
assets |
53.470 |
74.218 |
39.341 |
|
Total
Current Assets |
677.874 |
796.159 |
667.785 |
|
|
|
|
|
|
TOTAL |
884.968 |
1032.568 |
951.831 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
3732.437 |
3582.337 |
3553.343 |
|
|
Other Income |
3.755 |
9.340 |
5.367 |
|
|
TOTAL |
3736.192 |
3591.677 |
3558.710 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1698.490 |
1616.656 |
1757.767 |
|
|
Purchases of
Stock-in-Trade |
1286.209 |
1261.473 |
1052.840 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(10.911) |
(18.581) |
15.858 |
|
|
Employee benefit expense |
24.262 |
22.302 |
20.515 |
|
|
Other expenses |
626.381 |
573.904 |
561.970 |
|
|
TOTAL |
3624.431 |
3455.754 |
3408.950 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
111.761 |
135.923 |
149.760 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
48.716 |
62.583 |
56.206 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
63.045 |
73.340 |
93.554 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
46.349 |
56.775 |
66.741 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
16.696 |
16.565 |
26.813 |
|
|
|
|
|
|
|
Less |
TAX |
4.366 |
5.486 |
8.825 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
12.330 |
11.079 |
17.988 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
5.537 |
17.700 |
128.930 |
|
|
TOTAL IMPORTS |
5.537 |
17.700 |
128.930 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
2.47 |
2.22 |
3.61 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
49.667 |
43.220 |
57.240 |
|
Net cash flows from (used in) operations |
131.170 |
36.109 |
89.714 |
|
Net cash flows from (used in) operating activities |
127.693 |
21.845 |
69.084 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days [Sundry Debtors / Income * 365] |
|
32.41 |
38.04 |
33.29 |
|
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
|
11.26 |
9.59 |
10.96 |
|
|
|
|
|
|
|
Average Payment Days [Sundry Creditors /
Purchases * 365] |
|
16.61 |
28.40 |
24.45 |
|
|
|
|
|
|
|
Inventory Turnover [Operating Income /
Inventories] |
|
0.45 |
0.43 |
0.56 |
|
|
|
|
|
|
|
Asset Turnover [Operating Income / Net Fixed
Assets] |
|
0.61 |
0.62 |
0.54 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio [(Borrowing + Current Liabilities) / Total Assets] |
|
0.74 |
0.78 |
0.79 |
|
|
|
|
|
|
|
Debt Equity Ratio (Borrowings / NetWorth) |
|
1.42 |
1.82 |
1.80 |
|
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / NetWorth) |
|
1.83 |
2.31 |
1.97 |
|
|
|
|
|
|
|
Fixed Assets to NetWorth (Net Fixed Assets /
NetWorth) |
|
0.66 |
0.83 |
1.08 |
|
|
|
|
|
|
|
Interest Coverage Ratio [PBIT / Financial
Charges] |
|
2.29 |
2.17 |
2.66 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales) * 100] |
(%) |
0.33 |
0.31 |
0.51 |
|
|
|
|
|
|
|
Return on Total Assets [(PAT / Total Assets)
* 100] |
(%) |
1.39 |
1.07 |
1.89 |
|
|
|
|
|
|
|
Return on Investment (ROI) [(PAT / NetWorth)
* 100] |
(%) |
4.44 |
4.18 |
7.08 |
SOLVENCY RATIO
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio [Current Assets / Current Liabilities] |
|
1.33 |
1.30 |
1.33 |
|
|
|
|
|
|
|
Quick Ratio [(Current Assets - Inventories) /
Current Liabilities] |
|
0.84 |
0.79 |
0.80 |
|
|
|
|
|
|
|
G-Score Ratio Financial [NetWorth / Total
Assets] |
|
0.31 |
0.26 |
0.27 |
|
|
|
|
|
|
|
G-Score Ratio Debt [Debts / Equity Capital] |
|
7.91 |
9.66 |
9.18 |
|
|
|
|
|
|
|
G-Score Ratio Liquidity [Total Current
Assets / Total Current Liabilities] |
|
1.33 |
1.30 |
1.33 |
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 |
49.900 |
49.900 |
49.900 |
|
Reserves & Surplus |
204.228 |
215.307 |
227.637 |
|
Net
worth |
254.128 |
265.207 |
277.537 |
|
|
|
|
|
|
Long-term borrowings |
189.997 |
149.328 |
92.511 |
|
Short term borrowings |
210.975 |
289.735 |
252.738 |
|
Current maturities of
long-term debts |
57.240 |
43.220 |
49.667 |
|
Total
borrowings |
458.212 |
482.283 |
394.916 |
|
Debt/Equity
ratio |
1.803 |
1.819 |
1.423 |
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 |
3553.343 |
3582.337 |
3732.437 |
|
|
|
0.816 |
4.190 |
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 |
3553.343 |
3582.337 |
3732.437 |
|
Profit/ (Loss) |
17.988 |
11.079 |
12.330 |
|
|
0.51
% |
0.31
% |
0.33
% |
LITIGATION
DETAILS
|
CASE DETAILS |
|||||||
|
Bench:- Bombay |
|||||||
|
Presentation Date:- 07.10.2016 |
|||||||
|
Lodging No:- |
ITXAL/1421/2016 |
Failing Date:- |
07.10.2016 |
Reg. No.:- |
ITXAL/1869/2016 |
Reg. Date:- |
28.12.2016 |
|
|
|||||||
|
Petitioner:- |
THE COMMISSIONER INCOME TAX 12, - |
Respondent:- |
BHAGWATI STEEL CAST PRIVATE LIMITED |
||||
|
Petn.Adv:- |
SHAM V WALVE (I3200) |
|
|||||
|
District:- |
MUMBAI |
||||||
|
Bench:- |
DIVISION |
Category: |
TAX APPEALS |
||||
|
Status:- |
Pre-Admission |
Stage:- |
|
||||
|
Next Date:- |
20.02.2018 |
||||||
|
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 |
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 |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter involved
in |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
OPERATIONS:
1. During the FY 2016-2017, production of M S Billets increased from 82189 MT to 91274 MT showing an increase of 11.06% and production of TMT Bars increased from 72701 MT to 84111 MT showing increase of 15.69% which is satisfactory in present scenario. Utilized capacity has increased from 58% to 67% during the period.
2. Revenue from Operations has shown an increase from INR 3850.000 Million to INR 4040.000 Million showing an increase of 4.81% during the year 2016-17, which should be rated as quite satisfactory considering the steel sector scenario continuing to be depressed throughout the year.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from related parties |
44.900 |
35.000 |
|
|
|
|
|
Total |
44.900 |
35.000 |
INDEX
OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
Y10374420 |
90265154 |
STATE BANK OF INDIA |
30/01/2002 |
28/04/2003 |
- |
38500000.0 |
INDL Finance Branch, Andheri (East), Mumbai – 400069, Maharashtra, India |
|
2 |
C69780096 |
90265850 |
State Bank of India |
30/01/2002 |
31/10/2015 |
- |
629800000.0 |
IFB, Natraj Building, 102, 1st Floor, 194, Sir M V Road, Western Express Highway, Andheri (East), Mumbai – 400069, Maharashtra, India |
|
3 |
G44323277 |
90265959 |
STATE BANK OF INDIA |
24/09/2003 |
16/02/2004 |
04/05/2017 |
84000000.0 |
INDL Finance Branch, Andheri (East), Mumbai – 400069, Maharashtra, India |
|
4 |
G44428845 |
90265172 |
STATE BANK OF INDIA |
24/09/2003 |
07/05/2004 |
04/05/2017 |
84000000.0 |
INDL Finance Branch, Andheri (East), Mumbai – 400069, Maharashtra, India |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Other money for which company is contingently liable |
30.635 |
47.708 |
FIXED ASSETS
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
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, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records 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 64.28 |
|
|
1 |
INR 89.02 |
|
Euro |
1 |
INR 78.93 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
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.