|
|
|
MIRA INFORM REPORT
|
Report No. : |
492670 |
|
Report Date : |
19.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
SHYAM STEEL INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
Shyam Towers, EN-32, Sector – V, Salt Lake City, Kolkata-700091, West Bengal |
|
Tel. No.: |
91-33-40074007 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
08.03.2002 |
|
|
|
|
Com. Reg. No.: |
21-094339 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 62.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27100WB2002PLC094339 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
19AAGCS3838R1ZG |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALS09603G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAGCS3838R |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
The Company is engaged in the business of manufacturing of various iron and steel products including Hot Rolled Steel Products, Sponge Iron, and Billets/Blooms. (Registered Activity) |
|
|
|
|
No. of Employees
: |
Not Divulged |
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+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exists |
|
|
|
|
Comments : |
Subject was incorporated in the year 2002 and it is a manufacturer of metal
and metal products. As per financials of March 2017, the company has registered a growth
of 19.17% in its revenue as compared to its previous year’s revenue and has
reported fair profit margin of 3.81%. Rating take into consideration the company’s established track record
of business operations marked by healthy networth base along with comfortable
debt coverage indicators and good liquidity position. Further, the company has reported a good earnings per share of INR
59.52 against its face value of INR 10. However, rating strength is partially offset by the highly competitive
and large working capital requirement metal industry. Payments seems to be slow but correct. In view of aforesaid, the company can be considered good for business
dealings at usual trade terms and conditions.
|
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term rating (A) |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
08.12.2017 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term rating (A1) |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk. |
|
Date |
08.12.2017 |
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 19.02.2018
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 : |
Mrs. Kanan |
|
Designation : |
Branch Manager |
|
Contact No.: |
91-9790955344 |
|
Date : |
17.02.2018 |
91-33-40074007 (Number is Ringing)
LOCATIONS
|
Registered Office/ Head Office: |
Shyam Towers, EN-32, Sector – V, Salt Lake City, Kolkata-700091, West Bengal, India |
|
Tel. No.: |
91-33-40074007 |
|
Mobile No.: |
91-9790955344 (Mrs. Kanan) |
|
Fax No.: |
91-33-40074010 |
|
E-Mail : |
|
|
|
|
|
Factory : |
Raturia Industrial Area, Angadpur, Durgapur, District
Burdwan – 713215, West Bengal, India |
|
|
|
|
Branch Offices: |
Located At:
|
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Purushottam Beriwala |
|
Designation : |
Wholetime Director |
|
Address : |
CJ-222, Sector -II, Salt Lake City, Kolkata - 700091, West Bengal, India |
|
Date of Birth/Age : |
08.08.1960 |
|
Qualification : |
B.COM |
|
Date of Appointment : |
02.09.2014 |
|
PAN No.: |
ADAPB2083M |
|
DIN No.: |
00006215 |
|
|
|
|
Name : |
Mr. Ravi Beriwala |
|
Designation : |
Director |
|
Address : |
IB-185, Sector-III, Salt Lake City, Kolkata - 700106, West Bengal, India |
|
Date of Birth/Age : |
06.06.1970 |
|
Qualification : |
B.COM |
|
Date of Appointment : |
01.04.2009 |
|
PAN No.: |
ADXPB3489N |
|
DIN No.: |
00006230 |
|
|
|
|
Name : |
Mr. Nikunj Beriwal |
|
Designation : |
Wholetime Director |
|
Address : |
136, Jessore Road, Avani Oxford, Flat -4B, Lobby -1, Block -4, Kolkata - 700055, West Bengal, India |
|
Date of Birth/Age : |
23.04.1969 |
|
PAN NO.: |
ADVPB2111K |
|
Date of Appointment : |
02.09.2014 |
|
Qualification : |
B.COM |
|
DIN No.: |
00529975 |
|
|
|
|
Name : |
Mr. Deepak Chowdhary |
|
Designation : |
Wholetime Director |
|
Address : |
RC-55, Bengal Ambuja, City Centre, Burdwan, Durgapur - 713216, West Bengal, India |
|
Date of Birth/Age : |
27.09.1978 |
|
PAN NO.: |
ACRPC4327K |
|
Qualification : |
B.COM |
|
Date of Appointment : |
01.04.2016 |
|
DIN No.: |
06965132 |
|
|
|
|
Name : |
Mr. Santinath Sarkar |
|
Designation : |
Director |
|
Address : |
181/2, Nagendra Nath Road, Jugipara, South Dum Dum North Parganas 700028, West Bengal, India |
|
Date of Birth/Age : |
11.11.1953 |
|
PAN NO.: |
AIWPS6187J |
|
Qualification : |
Chartered Accountant |
|
Date of Appointment : |
30.09.2015 |
|
DIN No.: |
06996438 |
|
|
|
|
Name : |
Mrs. Rajni Mishra |
|
Designation : |
Director |
|
Address : |
Rabindra Pally, Uttar Ganipur Maheshtala, South Dum Dum North Parganas 700028, West Bengal, India |
|
Date of Appointment : |
30.05.2017 |
|
DIN No.: |
07706571 |
KEY EXECUTIVES
|
Name : |
Mrs. Urvashi Gupta |
|
Designation : |
Practicing Company Secretary |
|
Address : |
388, Dakshindhari Road, Dinante Apartment, 3rd Floor, Flat N O. 6 , Kolkata-700048, West Bengal, India |
|
PAN No.: |
AFTPT8800P |
|
Email: |
|
|
Mob. No: |
91-9831392136 |
|
|
|
|
Name : |
Mrs. Sudha Agarwal |
|
Designation : |
Company Secretary |
|
Date of Appointment : |
30.08.2017 |
|
PAN No.: |
AJIPA6680K |
|
|
|
|
Name : |
Mr. Tony Paul |
|
Designation : |
Company Secretary |
|
Address : |
4/3k/63, Sakuntala Park, Kolkata-700061, West Bengal ,India |
|
PAN NO.: |
AGLPP2378R |
|
Date of Appointment : |
13.09.2017 |
|
|
|
|
Name : |
Mrs. Kanan |
|
Designation : |
Branch Manager |
MAJOR SHAREHOLDERS
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Purushottam Beriwala |
|
283050 |
|
Lalit Beriwala |
|
312650 |
|
Govind Beriwal |
|
248650 |
|
Yashashvi Securities Private Limited, India |
|
409660 |
|
Trumax Ispat Private Limited, India |
|
525000 |
|
Govind Beriwala (HUF) |
|
363550 |
|
Purushottam Beriwala (HUF) |
|
358450 |
|
Beijesh Beriwala |
|
318050 |
|
Manish Beriwala |
|
317850 |
|
Ravi Beriwala |
|
317550 |
|
Shyam Sunder Beriwala |
|
317100 |
|
Saturn Vincom Private Limited |
|
300000 |
|
Bina Beriwala |
|
281000 |
|
Manish Beriwala (HUF) |
|
244550 |
|
Lalit Beriwala (HUF) |
|
234850 |
|
Sriram Beriwala |
|
227500 |
|
Brijesh Beriwala (HUF) |
|
219450 |
|
Ravi Beriwala (HUF) |
|
214950 |
|
Suket Beriwala |
|
200000 |
|
Vanlila Consultants Private Limited |
|
28540 |
|
Puspa Devi Beriwala |
|
178300 |
|
Jyoti Beriwala |
|
110300 |
|
Shyam Sunder Beriwala and Others (HUF) |
|
91500 |
|
Vineeta Beriwala |
|
30000 |
|
Maya Devi Beriwala |
|
27500 |
|
Anju Beriwala |
|
25000 |
|
Manju Lata Beriwala |
|
15000 |
|
Total |
|
6200000 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2017
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family – Indian) |
13.62 |
|
Public/Other than promoters (Individual/Hindu Undivided Family – Indian) |
66.01 |
|
Public/Other than promoters (Body corporate) |
20.37 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business
: |
The Company is engaged in the business of manufacturing of various iron and steel products including Hot Rolled Steel Products, Sponge Iron, and Billets/Blooms. (Registered Activity) |
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Products / Services
: |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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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
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
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Facilities : |
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|
Auditors : |
|
|
Name : |
Singhi and Company Chartered Accountants |
|
Address : |
161, Sarat Bose Road, Kolkata-700 026, West Bengal, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AASFS9578D |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiaries : |
|
|
|
|
|
Fellow Subsidiary
Company |
|
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives |
|
CAPITAL STRUCTURE
AS ON: 30.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8000000 |
Equity Shares |
INR 10/- each |
INR 80.000 Million |
|
2000000 |
Preference Share |
INR 10/- each |
INNR 20.000 Million |
|
|
Total |
|
INR 100.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6200000 |
Equity Shares |
INR 10/- each |
INR 62.000
Million |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
62.000 |
65.000 |
65.000 |
|
(b) Reserves and Surplus |
2427.463 |
2152.526 |
1887.533 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
(d) Minority interest |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
2489.463 |
2217.526 |
1952.533 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
162.881 |
284.380 |
486.595 |
|
(b) Deferred tax liabilities (Net) |
176.221 |
196.981 |
60.878 |
|
(c) Other long-term
liabilities |
538.157 |
503.696 |
440.897 |
|
(d) long-term
provisions |
39.421 |
22.557 |
12.911 |
|
Total Non-current
Liabilities (3) |
916.680 |
1007.614 |
1001.281 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
1203.158 |
1097.176 |
895.197 |
|
(b) Trade
payables |
488.732 |
513.142 |
667.378 |
|
(c) Other
current liabilities |
529.376 |
385.885 |
491.040 |
|
(d) Short-term
provisions |
1.171 |
0.846 |
1.040 |
|
Total Current
Liabilities (4) |
2222.437 |
1997.049 |
2054.655 |
|
|
|
|
|
|
TOTAL |
5628.580 |
5222.189 |
5008.469 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1291.260 |
1414.677 |
1442.885 |
|
(ii) Intangible
Assets |
0.522 |
0.656 |
0.404 |
|
(iii) Tangible assets
capital work-in-progress |
133.475 |
22.955 |
44.173 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1074.114 |
1074.114 |
636.339 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
216.270 |
202.806 |
198.094 |
|
(e) Other
Non-current assets |
0.524 |
4.336 |
1.487 |
|
Total Non-Current
Assets |
2716.165 |
2719.544 |
2323.382 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
55.531 |
116.085 |
50.000 |
|
(b)
Inventories |
825.343 |
525.389 |
656.048 |
|
(c) Trade
receivables |
1102.618 |
1259.400 |
1295.045 |
|
(d) Cash and
bank balances |
80.942 |
61.480 |
160.143 |
|
(e) Short-term
loans and advances |
782.500 |
439.460 |
438.597 |
|
(f) Other
current assets |
65.481 |
100.831 |
85.254 |
|
Total
Current Assets |
2912.415 |
2502.645 |
2685.087 |
|
|
|
|
|
|
TOTAL |
5628.580 |
5222.189 |
5008.469 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
10161.413 |
8526.898 |
9257.589 |
|
|
Other Income |
47.393 |
61.089 |
64.613 |
|
|
TOTAL |
10208.806 |
8587.987 |
9322.202 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
6909.801 |
5657.034 |
6903.913 |
|
|
Purchases of
Stock-in-Trade |
17.485 |
28.074 |
179.782 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(159.403) |
87.918 |
(77.324) |
|
|
Employee benefit expense |
415.087 |
235.701 |
171.176 |
|
|
CSR expenditure |
4.145 |
0.000 |
0.000 |
|
|
Other expenses |
2151.689 |
1827.208 |
1433.230 |
|
|
TOTAL |
9338.804 |
7835.935 |
8610.777 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
870.002 |
752.052 |
711.425 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
186.677 |
223.572 |
338.692 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
683.325 |
528.480 |
372.733 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
191.207 |
162.172 |
261.848 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
492.118 |
366.308 |
110.885 |
|
|
|
|
|
|
|
Less |
TAX |
105.260 |
9.132 |
1.398 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
386.858 |
357.176 |
109.487 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
133.122 |
4.521 |
124.514 |
|
|
TOTAL EARNINGS |
133.122 |
4.521 |
124.514 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
0.000 |
649.215 |
602.568 |
|
|
Components and spare
parts |
0.000 |
47.143 |
3.115 |
|
|
TOTAL IMPORTS |
0.000 |
696.359 |
605.684 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
59.52 |
54.95 |
31.22 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
176.075 |
159.772 |
302.713 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
572.847 |
950.763 |
1087.267 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
467.438 |
887.403 |
1047.079 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days [Sundry Debtors / Income * 365] |
|
39.61 |
53.91 |
51.06 |
|
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
|
9.22 |
6.77 |
7.15 |
|
|
|
|
|
|
|
Average Payment Days [Sundry Creditors /
Purchases * 365] |
|
25.75 |
32.95 |
34.39 |
|
|
|
|
|
|
|
Inventory Turnover [Operating Income /
Inventories] |
|
1.05 |
1.43 |
1.08 |
|
|
|
|
|
|
|
Asset Turnover [Operating Income / Net Fixed
Assets] |
|
0.61 |
0.52 |
0.48 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio [(Borrowing + Current Liabilities) / Total Assets] |
|
0.46 |
0.47 |
0.57 |
|
|
|
|
|
|
|
Debt Equity Ratio (Borrowings / NetWorth) |
|
0.62 |
0.70 |
0.86 |
|
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / NetWorth) |
|
0.89 |
0.90 |
1.05 |
|
|
|
|
|
|
|
Fixed Assets to NetWorth (Net Fixed Assets /
NetWorth) |
|
0.57 |
0.65 |
0.76 |
|
|
|
|
|
|
|
Interest Coverage Ratio [PBIT / Financial
Charges] |
|
4.66 |
3.36 |
2.10 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales) * 100] |
(%) |
3.81 |
4.19 |
1.18 |
|
|
|
|
|
|
|
Return on Total Assets [(PAT / Total Assets)
* 100] |
(%) |
6.87 |
6.84 |
2.19 |
|
|
|
|
|
|
|
Return on Investment (ROI) [(PAT / NetWorth)
* 100] |
(%) |
15.54 |
16.11 |
5.61 |
SOLVENCY RATIO
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio [Current Assets / Current Liabilities] |
|
1.31 |
1.25 |
1.31 |
|
|
|
|
|
|
|
Quick Ratio [(Current Assets - Inventories)
/ Current Liabilities] |
|
0.94 |
0.99 |
0.99 |
|
|
|
|
|
|
|
G-Score Ratio Financial [NetWorth / Total
Assets] |
|
0.44 |
0.42 |
0.39 |
|
|
|
|
|
|
|
G-Score Ratio Debt [Debts / Equity Capital] |
|
24.87 |
23.71 |
25.92 |
|
|
|
|
|
|
|
G-Score Ratio Liquidity [Total Current
Assets / Total Current Liabilities] |
|
1.31 |
1.25 |
1.31 |
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 |
65.000 |
65.000 |
62.000 |
|
Reserves & Surplus |
1887.533 |
2152.526 |
2427.463 |
|
Net
worth |
1952.533 |
2217.526 |
2489.463 |
|
|
|
|
|
|
Long-term borrowings |
486.595 |
284.380 |
162.881 |
|
Short term borrowings |
895.197 |
1097.176 |
1203.158 |
|
Current maturities of
long-term debts |
302.713 |
159.772 |
176.075 |
|
Total
borrowings |
1684.505 |
1541.328 |
1542.114 |
|
Debt/Equity
ratio |
0.863 |
0.695 |
0.619 |
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 |
9257.589 |
8526.898 |
10161.413 |
|
|
|
(7.893) |
19.169 |
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 |
9257.589 |
8526.898 |
10161.413 |
|
Profit/ (Loss) |
109.487 |
357.176 |
386.858 |
|
|
1.18
% |
4.19
% |
3.81
% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
(1)Shareholders' Funds |
|
|
|
(a) Share Capital |
62.000 |
65.000 |
|
(b) Reserves and Surplus |
3272.390 |
2649.579 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
|
(d) Minority interest |
25.848 |
20.611 |
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
3334.390 |
2714.579 |
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
(a) long-term borrowings |
633.104 |
979.460 |
|
(b) Deferred tax liabilities (Net) |
323.713 |
196.981 |
|
(c) Other long-term
liabilities |
538.157 |
503.946 |
|
(d) long-term
provisions |
50.130 |
33.266 |
|
Total Non-current
Liabilities (3) |
1545.104 |
1713.653 |
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
(a) Short-term
borrowings |
2064.152 |
1639.517 |
|
(b) Trade
payables |
684.332 |
790.499 |
|
(c) Other
current liabilities |
914.929 |
831.688 |
|
(d) Short-term
provisions |
43.761 |
3.891 |
|
Total Current
Liabilities (4) |
3707.174 |
3265.595 |
|
|
|
|
|
TOTAL |
8612.516 |
7714.438 |
|
|
|
|
|
II.
ASSETS |
|
|
|
(1)
Non-current assets |
|
|
|
(a) Fixed
Assets |
|
|
|
(i)
Tangible assets |
3096.722 |
3254.433 |
|
(ii)
Intangible Assets |
1.244 |
0.732 |
|
(iii) Tangible assets
capital work-in-progress |
163.476 |
64.493 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
|
(b) Non-current Investments |
14.916 |
0.090 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
463.306 |
350.768 |
|
(e) Other
Non-current assets |
15.007 |
17.189 |
|
Total Non-Current
Assets |
3754.671 |
3687.705 |
|
|
|
|
|
(2)
Current assets |
|
|
|
(a)
Current investments |
163.973 |
219.715 |
|
(b)
Inventories |
1428.582 |
916.402 |
|
(c) Trade
receivables |
1511.550 |
1639.515 |
|
(d) Cash and
bank balances |
181.460 |
146.178 |
|
(e)
Short-term loans and advances |
1154.007 |
497.843 |
|
(f) Other
current assets |
418.273 |
607.080 |
|
Total
Current Assets |
4857.845 |
4026.733 |
|
|
|
|
|
TOTAL |
8612.516 |
7714.438 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
Total
Revenue from operations |
13528.020 |
10327.778 |
|
|
Other Income |
71.722 |
67.594 |
|
|
TOTAL |
13599.742 |
10395.372 |
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
Cost of Materials
Consumed |
8505.247 |
6313.343 |
|
|
Purchases of
Stock-in-Trade |
17.485 |
28.074 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(156.141) |
209.478 |
|
|
Employee benefit expense |
561.651 |
336.653 |
|
|
Other expenses |
2949.835 |
2138.237 |
|
|
TOTAL |
11878.077 |
9025.785 |
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
1721.665 |
1369.587 |
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
361.249 |
406.231 |
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
1360.416 |
963.356 |
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
375.062 |
383.714 |
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
985.354 |
579.642 |
|
|
|
|
|
|
Less |
TAX |
245.326 |
14.802 |
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
740.028 |
564.840 |
|
|
|
|
|
|
Add: |
PROFIT (LOSS) OF
MINORITY INTEREST |
(5.237) |
(3.120) |
|
|
|
|
|
|
Add: |
Share of profit
(loss) of associates |
0.009 |
(17.184) |
|
|
|
|
|
|
|
TOTAL PROFIT (LOSS)
FOR PERIOD |
734.801 |
544.536 |
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
Raw Materials |
1215.372 |
912.466 |
|
|
Components and spare
parts |
8.431 |
47.588 |
|
|
TOTAL IMPORTS |
1223.803 |
960.055 |
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
119.36 |
86.90 |
LEGALS
FILE
|
High Court of Calcutta - Original Side |
|
Case Status Information System |
|
Case Status : |
Pending |
|
Status Of : |
INCOME TAX APPEAL
TENDERED 138 Of 2017 |
|
Litigants : |
PRINCIPAL COMMISSIONER OF
INCOME TAX-1, Vs. M/S. SHYAM STEEL INDUSTRIES LIMITED |
|
Pet's Adv : |
MR. YOGESH VATS |
|
Res's Adv : |
|
|
Last Date of Hearing : |
--- |
|
Next / Final Date of Hearing : |
--- |
|
Case Updated On : |
Thursday, April 06, 2017 |
|
Category : |
INCOME TAX : REVENUE |
|
Connected Application(s) |
|
No Connected Application |
|
Connected Matter(s) |
|
No Connected Cases |
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 two/ three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
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 |
STATE OF COMPANY'S
AFFAIRS AND FUTURE OUTLOOK
Steel is traditionally considered as the backbone for economic development. It is a major input for sectors which support economic growth such as infrastructure, machinery, power and railways, as well as being important for fast growing sectors, in particular automobiles and consumer durables. Indian Steel Industry comprises of several interlinked segments for value addition broadly classified as Integrated Producers and Non Integrated or Secondary Producers.
The Company is engaged in the business of manufacturing of various iron and steel products including Hot Rolled Steel Products, Sponge Iron, and Billets/Blooms. During the year, despite pressure from global markets, the company continued to perform better and registered a robust growth. The Company looked beyond challenges at the opportunities they present, and apply its abilities with focus and foresight. That is what exactly the Company did during the year by serving its customers in a more efficient, cost-effective, reliable and environment friendly manner, while bolstering its market position in the industry. The Company's products meet stringent quality parameters which is gaining market share comprising of private, institutional, non-institutional and government bodies. The total revenue of the Company for the financial year 2016-17 stood at INR 10161.413 million which has increased as compared to previous year. The Company witnessed a robust growth in profitability thereby earning a profit before tax of INR 492.118 million as compared to INR 366.308 million in the previous year. The profit after tax for the year ended 31.03.2017 stood at INR 386.858 million. The earnings per share increased from INR 54.95 in the previous year to INR 59.52 in the current year.
Keeping in view the global and domestic economic scenario, robust infrastructure growth, various government initiatives, such as 'Make in India', 'Smart cities' and future business plans of the company, it is expected to keep the growth momentum going in the financial year 2017-18.
UNSECURED LOAN
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Short-term
borrowings |
|
|
|
Interoperate borrowings |
12.595 |
34.868 |
|
Loans and advances from related parties |
6.480 |
8.316 |
|
Total |
19.075 |
43.184 |
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
B59492926 |
10340338 |
STATE BANK OF HYDERABAD |
22/02/2012 |
29/08/2012 |
- |
165500000.0 |
COMMERCIAL BRANCH83, TOPSIA ROADKOLKATAWB700046IN |
|
2 |
G43979111 |
10165250 |
State Bank of India |
23/05/2009 |
05/05/2017 |
- |
2961600000.0 |
Commercial Branch, Kolkata24, Park StreetKolkataWB700016IN |
|
3 |
G39709514 |
10110112 |
State Bank of India |
08/05/2008 |
28/03/2017 |
- |
1500000000.0 |
Commercial Branch, Kolkata24, Park StreetKolkataWB700016IN |
|
4 |
G39709969 |
90246512 |
State Bank of India |
16/02/2005 |
28/03/2017 |
- |
3000800000.0 |
Commercial Branch, Kolkata24, Park StreetKolkataWB700016IN |
|
5 |
G42574798 |
10295263 |
ALLAHABAD BANK |
27/06/2011 |
19/08/2015 |
26/04/2017 |
350000000.0 |
INDUSTRIAL FINANCE BRANCH17, R. N. MUKHERJEE ROAD, 4TH FLOORKOLKATAWB700001IN |
|
6 |
G42350033 |
10420779 |
Indian Overseas Bank |
28/03/2013 |
21/03/2015 |
26/04/2017 |
350000000.0 |
Mid-Corporate Branch,3, Chowringhee ApproachKolkataWB700072IN |
|
7 |
C74315318 |
10322525 |
L & T FINANCE LIMITED |
25/10/2011 |
26/12/2011 |
23/12/2015 |
200000000.0 |
L&T HOUSE,BALLARD ESTATE,MUMBAIMH400001IN |
|
8 |
C55074645 |
10331818 |
STATE BANK OF PATIALA |
18/01/2012 |
- |
01/06/2015 |
250000000.0 |
8, CAMAC STREETKOLKATAWB700017IN |
|
9 |
B75608588 |
10334779 |
STATE BANK OF BIKANER & JAIPUR |
01/02/2012 |
- |
24/04/2013 |
270000000.0 |
Ballygunge Branch,204, Rashbehari AvenueKolkataWB700029IN |
|
10 |
B68603810 |
10337402 |
Indian Overseas Bank |
22/02/2012 |
- |
06/02/2013 |
500000000.0 |
MID CORPORATE BRANCH3, CHOWRINGHEE APPROACHKOLKATAWB700013IN |
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Corporate Guarantee issued by the company against loan provided by various banks and non-banking financial companies to its step down subsidiary Shyam Steel Manufacturing Limited |
1528.300 |
1750.700 |
FIXED ASSETS
- Land
- Building
- Furniture and
Fixture
- Computer
- Plant and
Machinery
- Vehicle
- Office equipment
- Computer
Accessories
- Computer
Software
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 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 63.91 |
|
|
1 |
INR 90.31 |
|
Euro |
1 |
INR 80.17 |
INFORMATION DETAILS
|
Information
Gathered by : |
PNM |
|
|
|
|
Analysis Done by
: |
VVK |
|
|
|
|
Report Prepared
by : |
MTN |
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.