|
|
|
MIRA INFORM REPORT
|
Report No. : |
493516 |
|
Report Date : |
23.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
HIRA FERRO ALLOYS LIMITED (w.e.f. 21.05.1999) |
|
|
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Formerly Known
As : |
PARIN COMMERCIALS LIMITED |
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Registered Office
: |
Plot No.567/B, 568 & 553/B, Urla Industrial Area, Raipur – 493221,
Chhattisgarh |
|
Tel. No.: |
91-771-4082450 |
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|
|
|
Country : |
India |
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Financials (as
on) : |
31.03.2016 |
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Date of
Incorporation : |
31.12.1984 |
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|
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Com. Reg. No.: |
005837 |
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Capital
Investment / Paid-up Capital : |
INR 195.885 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27101CT1984PLC005837 |
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IEC No.: |
Not Divulged |
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GST No.: |
22AAACH5697M1Z7 |
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TIN No.: |
22391902568/ 22161901676 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
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PAN No.: [Permanent Account No.] |
AAACH5697M |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Ferro Alloys Products and Fly Ash Bricks and also
Generation of Electricity. [Registered Activity] |
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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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1984. It is manufacturer of ferro
alloys products and fly ash bricks and also generation of electricity. For the FY 2016, the company has achieved revenue growth of 6.56% as
compared to the previous year but has incurred operational loss. Rating further takes into consideration long operational track record,
sound net worth base, low debt level and fair liquidity position. Rating is constrained on account of absence of latest financials. Payment terms are slow but correct. In view of aforesaid, the subject can be considered for business at
usual trade terms and conditions. Note: As per
Registrar of Companies date of balance sheet (i.e. financial filed) is shown
as 31.03.2017 but documents related to financial for the year 31.03.2017 are
not available from any sources. |
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=BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk |
|
Date |
18.09.2017 |
|
|
|
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Rating=A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk |
|
Date |
18.09.2017 |
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 23.02.2018.
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 DECLINED BY
|
Name : |
Mr. Dilip Chauhan |
|
Designation : |
Chief Finance Officer |
|
Contact No.: |
91-771-4082451 |
|
Date : |
21.02.2018 |
MANAGEMENT NON-COOPERATIVE
[Contact No: 91-771-4082458/ 4082450]
LOCATIONS
|
Registered Office/ Factory 1 : |
Plot No.567/B, 568 & 553/B, Urla Industrial Area, Raipur – 493221,
Chhattisgarh, India |
|
Tel. No.: |
91-771-4082450-51/ 4082458 |
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Fax No.: |
91-771-4082452 |
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E-Mail : |
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|
Website : |
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|
Factory 2 : |
Plot No. 490/1, 490/2 & 491 Urla Industrial Complex,
Raipur-492003, Chhattisgarh, India |
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|
|
|
Corporate Office : |
Hira
Arcade, Near New Bus Stand, Pandri, Raipur – 492004, Chhattisgarh, India |
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Tel. No.: |
91-771-4082470 |
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Fax No.: |
91-771-4082742 |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Biswajit Choudhuri |
||||||||||||||||||||||||||||||||||||||||
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Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
Rajani Kusumalay, Nandalal Jiu Road, Off 119 Sarat Bose Road, Kolkata - 700026, West Bengal, India |
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Date of Birth/Age : |
30.04.1942 |
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Qualification : |
B.Tech( Hons), Fellow Member of ICWAI and Indian Institute of Banking and Finance |
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Date of Appointment : |
09.11.2011 |
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PAN No.: |
ABWPC3097Q |
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DIN No.: |
00149018 |
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Other Directorship :
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||||||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Narayan Prasad Agrawal |
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Designation : |
Managing Director |
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|
Address : |
Om Kutir, Jail Road, Phaphadih, Raipur - 492001, Chhattisgarh, India |
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Date of Birth/Age : |
23.01.1959 |
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Qualification : |
B.Com |
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|
Date of Appointment : |
29.09.2001 |
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PAN No.: |
ACIPA2187N |
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DIN No.: |
00355219 |
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Other Directorship :
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||||||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Bhrigu Nath Ojha |
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|
Designation : |
Director |
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|
Address : |
C - 102 Airliners CGHS, Plot - 27 Sector - 10 Dwarka Phase - I, New Delhi - 110045, India |
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Date of Birth/Age : |
01.01.1944 |
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Qualification : |
B.E. (Electricla) |
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Date of Appointment : |
06.08.2011 |
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PAN No.: |
AAAPO0041M |
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DIN No.: |
02282594 |
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Other Directorship :
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|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Arbind Kumar Dubey |
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|
Designation : |
Whole-time Director |
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Address : |
MPHB colony, birgaon QTR. No. A - 25, Raipur - 492001, Chhattisgarh, India |
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Date of Birth/Age : |
10.12.1962 |
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|
Qualification : |
B.Com |
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|
Date of Appointment : |
06.08.2011 |
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PAN No.: |
ADBPD5744L |
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DIN No.: |
01075608 |
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Other Directorship :
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||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Yarra Chandra Rao |
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|
Designation : |
Director |
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Address : |
B-31, Green Orchid, Avani Vihar, Raipur - 492001, Chhattisgarh, India |
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Date of Birth/Age : |
24.08.1965 |
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Qualification : |
CS CWA LLB |
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Date of Appointment : |
26.04.1999 |
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PAN No.: |
ACUPR2800B |
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DIN No.: |
00603401 |
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Other Directorship :
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|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Manohar Khatri |
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|
Designation : |
Wholetime Director |
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|
Address : |
House No-31, Avanti Garden, Daldal Seoni Road Near Kalyan Gas Godoun Raipur-492014, Chhattisgarh, India |
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Date of Birth/Age : |
05.04.1965 |
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|
Qualification : |
M.A. |
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|
Date of Appointment : |
24.11.2015 |
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|
PAN No.: |
APNPK1603B |
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|
DIN No.: |
07341744 |
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KEY EXECUTIVES
|
Name : |
Mr. Mohit Chande |
|
Designation : |
Company Secretary |
|
Address : |
D-296/5, Tagore Nagar, Raipur - 492001, Chhattisgarh, India |
|
Date of Birth/Age : |
11.11.1979 |
|
Qualification : |
CS M.Com, MA (Eco) |
|
Date of Appointment : |
01.01.2008 |
|
PAN No.: |
AHPPC5833M |
|
|
|
|
Name : |
Mr. Dilip Chauhan |
|
Designation : |
Chief Financial Officer (KMP) |
|
Address : |
H. No 33, PH- 2 Harsh Vihar, Daldal Seowani, Mowa, Raipur - 492001, Chhattisgarh, India |
|
Date of Birth/Age : |
02.12.1979 |
|
Qualification : |
CA |
|
Date of Appointment : |
24.05.2014 |
|
PAN No.: |
AHRPC3582B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2017
NOTE: SHAREHOLDING DETAILS FILE ATTACHED
AS ON 25.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters
– Individual/Hindu Undivided Family (Indian) |
2.44 |
|
Promoters
– Body Corporate |
82.71 |
|
Promoters
– Others (PAC) |
10.15 |
|
Public/
Other than Promoters – Individual/Hindu Undivided Family (Indian) |
4.02 |
|
Public/ Other than Promoters – Individual/Hindu Undivided Family (Non-resident Indian (NRI)) |
0.08 |
|
Public/
Other than Promoters – Body Corporate |
0.55 |
|
Public/
Other than Promoters – Others [Clearing Member, Other Director] |
0.05 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Ferro Alloys Products and Fly Ash Bricks and also
Generation of Electricity. [Registered Activity] |
||||||
|
|
|
||||||
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Products : |
|
||||||
|
|
|
||||||
|
Brand Names : |
Not Available |
||||||
|
|
|
||||||
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Agencies Held : |
Not Available |
||||||
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||||||
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Exports : |
Not Divulged |
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||||||
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Imports : |
Not Divulged |
||||||
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||||||
|
Terms : |
|
||||||
|
Selling : |
Not Divulged |
||||||
|
|
|
||||||
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
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|
|
||||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
|
No. of Employees : |
Not Divulged |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
· Axis Bank Limited Jeevan Beema Marg, Opposite New Bus Stand, Pandri, Raipur - 482001, Chhattisgarh, India · Allahabad Bank Main Branch, Amrit Sandesh Complex, G. E. Road, Raipur - 492001, Chattisgarh, India · IDBI Bank Limited Specialised Corporate Branch, First Floor, Simran Towers, Opp . Lic Main Building, Pandri, Raipur - 492001, Chhattisgarh, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
Financial Institution : |
· Bajaj Finance Limited Akurdi Pune, Pune - 411035, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
OP Singhania and Company Chartered Accountants |
|
Address : |
"Jds
Chambers" Ist Floor 6, Central Avenue Choube Colony, Raipur-492001,
India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFO3891P |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Other Related Party
: |
Godawari Power and Ispat Limited, India
[L27106CT1999PLC013756] |
|
|
|
|
Associate : |
Active Chemicals Private Limited, India
[U51112CT1988PTC004532] |
CAPITAL STRUCTURE
AS ON 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
INR 10/- each |
INR 200.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
19588500 |
Equity Shares |
INR 10/- each |
INR 195.885 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
195.885 |
195.885 |
195.885 |
|
(b) Reserves and Surplus |
1170.426 |
1219.403 |
1116.896 |
|
(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) |
1366.311 |
1415.288 |
1312.781 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
119.217 |
211.822 |
314.861 |
|
(b) Deferred tax liabilities (Net) |
29.162 |
48.151 |
39.682 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
10.276 |
8.314 |
6.889 |
|
Total Non-current
Liabilities (3) |
158.655 |
268.287 |
361.432 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term borrowings |
214.041 |
330.239 |
320.508 |
|
(b) Trade
payables |
273.783 |
151.560 |
224.857 |
|
(c) Other
current liabilities |
274.676 |
221.758 |
247.887 |
|
(d) Short-term
provisions |
0.965 |
15.288 |
15.296 |
|
Total Current
Liabilities (4) |
763.465 |
718.845 |
808.548 |
|
|
|
|
|
|
TOTAL |
2288.431 |
2402.420 |
2482.761 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1040.852 |
1106.529 |
1162.631 |
|
(ii)
Intangible Assets |
1.355 |
5.700 |
10.351 |
|
(iii) Tangible assets
capital work-in-progress |
0.406 |
1.012 |
5.283 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
405.425 |
225.425 |
120.754 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
29.947 |
24.794 |
30.347 |
|
(e) Other
Non-current assets |
0.623 |
8.056 |
6.708 |
|
Total Non-Current
Assets |
1478.608 |
1371.516 |
1336.074 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
2.126 |
2.126 |
7.590 |
|
(b)
Inventories |
305.405 |
368.440 |
558.281 |
|
(c) Trade
receivables |
118.547 |
136.388 |
147.830 |
|
(d) Cash and
bank balances |
43.114 |
28.277 |
51.090 |
|
(e) Short-term
loans and advances |
335.942 |
492.579 |
379.453 |
|
(f) Other
current assets |
4.689 |
3.094 |
2.443 |
|
Total
Current Assets |
809.823 |
1030.904 |
1146.687 |
|
|
|
|
|
|
TOTAL |
2288.431 |
2402.420 |
2482.761 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
1860.746 |
1746.216 |
2127.577 |
|
|
Other Income |
19.442 |
408.147 |
10.065 |
|
|
TOTAL (A) |
1880.188 |
2154.363 |
2137.642 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1452.780 |
1397.224 |
1372.940 |
|
|
Purchases of
Stock-in-Trade |
0.000 |
24.901 |
179.935 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
28.972 |
9.722 |
(10.588) |
|
|
Employee benefit expense |
82.880 |
90.770 |
88.627 |
|
|
Other expenses |
238.296 |
292.632 |
301.148 |
|
|
TOTAL (B) |
1802.928 |
1815.249 |
1932.062 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
77.260 |
339.114 |
205.580 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
64.046 |
92.801 |
76.658 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION
(C-D) (E) |
13.214 |
246.313 |
128.922 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
79.999 |
96.224 |
86.068 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(66.785) |
150.089 |
42.854 |
|
|
|
|
|
|
|
Less |
TAX (H) |
(17.807) |
33.422 |
15.769 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(48.978) |
116.667 |
27.085 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
23.950 |
59.590 |
40.893 |
|
|
TOTAL EARNINGS |
23.950 |
59.590 |
40.893 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
66.252 |
236.360 |
131.213 |
|
|
TOTAL IMPORTS |
66.252 |
236.360 |
131.213 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(2.50) |
5.96 |
1.38 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
94.198 |
92.315 |
120.849 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
463.964 |
(65.146) |
(44.463) |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
462.733 |
(115.305) |
(52.177) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
23.25 |
28.51 |
25.36 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
15.70 |
12.80 |
14.39 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
68.79 |
38.90 |
52.85 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.25 |
0.92 |
0.37 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.07 |
0.30 |
0.17 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.43 |
0.43 |
0.50 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.31 |
0.45 |
0.58 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.56 |
0.51 |
0.62 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.76 |
0.79 |
0.90 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.21 |
3.65 |
2.68 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
(2.63) |
6.68 |
1.27 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(2.14) |
4.86 |
1.09 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(3.58) |
8.24 |
2.06 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.06 |
1.43 |
1.42 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.66 |
0.92 |
0.73 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.60 |
0.59 |
0.53 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
2.18 |
3.24 |
3.86 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.06 |
1.43 |
1.42 |
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 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
195.885 |
195.885 |
195.885 |
|
Reserves & Surplus |
1116.896 |
1219.403 |
1170.426 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1312.781 |
1415.288 |
1366.311 |
|
|
|
|
|
|
Long-term borrowings |
314.861 |
211.822 |
119.217 |
|
Short term borrowings |
320.508 |
330.239 |
214.041 |
|
Current maturities of
long-term debts |
120.849 |
92.315 |
94.198 |
|
Total
borrowings |
756.218 |
634.376 |
427.456 |
|
Debt/Equity
ratio |
0.576 |
0.448 |
0.313 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
2127.577 |
1746.216 |
1860.746 |
|
|
|
(17.925) |
6.559 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
2127.577 |
1746.216 |
1860.746 |
|
Profit/ (Loss) |
27.085 |
116.667 |
(48.978) |
|
|
1.27
% |
6.68
% |
(2.63
%) |
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 |
No |
|
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 |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G48135792 |
100108838 |
AXIS TRUSTEE SERVICES LIMITED |
03/06/2017 |
- |
- |
16726300000.0 |
AXIS HOUSE, BOMBAY DYEING MILLSCOMPOUND, PANDHURANG BUDHKAR MARG, WORLIMUMBAIMa400025IN |
|
2 |
B85167617 |
10292359 |
STATE BANK OF INDIA |
23/05/2011 |
10/09/2013 |
- |
955000000.0 |
COMMERCIAL BRANCH2ND FLOOR, PUJARI CHAMBERS, PACHPEDI NAKARAIPURCT492001IN |
|
3 |
B68087931 |
10243822 |
IDBI BANK LIMITED |
21/09/2010 |
17/01/2013 |
- |
100000000.0 |
SPECIALISED CORPORATE BRANCH, FIRST FLOORSIMRAN TOWERS, OPP. LIC MAIN BUILDING, PANDRIRAIPURCT492001IN |
|
4 |
A91834606 |
10233286 |
IDBI BANK LIMITED |
30/06/2010 |
- |
- |
64900000.0 |
SPECIALISED CORPORATE BRANCH, FIRST FLOORSIMRAN TOWER, OPP. LIC MAIN BUILDING, PANDRIRAIPURCT492001IN |
|
5 |
B68087600 |
10212426 |
IDBI BANK LIMITED |
27/03/2010 |
17/01/2013 |
- |
90000000.0 |
SPECIALISED CORPORATE BRANCH, FIRST FLOORSIMRAN TOWERS, OPP . LIC MAIN BUILDING , PANDRIRAIPURCT492001IN |
|
6 |
C60285780 |
10123248 |
AXIS BANK LIMITED |
11/09/2008 |
17/07/2015 |
- |
260000000.0 |
JEEVAN BEEMA MARG,OPP. NEW BUS STAND, PANDRI,RAIPURCT492001IN |
|
7 |
G69299410 |
90209811 |
STATE BANK OF INDIA |
03/01/2005 |
15/01/2011 |
14/11/2017 |
859900000.0 |
COMMERCIAL BRANCH2ND FLOOR, PUJARI CHAMBERS, PACHPEDI NAKARAIPURCT492001IN |
|
8 |
G62991997 |
10389929 |
BAJAJ FINANCE LIMITED |
27/10/2012 |
- |
30/10/2017 |
1850000.0 |
AKURDI PUNE-PUNEMH411035IN |
|
9 |
G59056093 |
90206308 |
MAGMA LEASING LTD |
19/03/2005 |
- |
24/10/2017 |
1080000.0 |
24 PARK STREETKOLKATAWBIN |
|
10 |
B72255532 |
10045532 |
ALLAHABAD BANK |
13/04/2007 |
- |
14/03/2013 |
90000000.0 |
MAIN BRANCH, AMRIT SANDESH COMPLEX,G. E. ROADRAIPURCT492001IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2016 (INR
In Million) |
31.03.2015 (INR
In Million) |
|
SHORT TERM BORROWINGS |
|
|
|
Loans repayable on demand |
67.307 |
1.711 |
|
|
|
|
|
Total |
67.307 |
1.711 |
CORPORATE INFORMATION
Hira Ferro Alloys Limited (the company) is a public company domiciled in India and incorporated under the provisions of the Companies Act,1956. The shares was listed two stock exchanges in India and has been delsited from staock exchanges wef 11.08.2014. The company is mainly engaged in manufacturing of Ferro Alloys Products, Generation of Electricity and Fly Ash Bricks.
REVIEW OF PERFORMANCE
The performance of the Company during the year under review remained sluggish under the prevailing circumstances and overall slowdown in demand growth. The highlights of the financial performance for the year are as under:
Standalone Operations
a) Net Sales Revenue increased by 6.56 % to INR 1860.746 Million from INR 1746.216 Million recorded in previous year.
b) The sale of electricity division increased to INR 379.103 Million as against sale of previous year of INR 288.755 Million, registering a growth of 31.29% in view of operations of Bio-mass Power Plant.
c) The Company registered Net Loss of INR 48.960 Million as against net profit after tax of INR 116.666 Million during the previous year.
CONTINGENT LIABILITIES:
|
Particulars |
31.03.2016 (INR
In Million) |
31.03.2015 (INR
In Million) |
|
Claims against company not acknowledged as debt |
23.317 |
24.200 |
|
Guarantees |
139.360 |
24.306 |
|
Other money for which company is contingently liable |
149.159 |
132.829 |
|
|
|
|
|
Total |
311.836 |
181.335 |
FIXED ASSETS:
Tangible 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,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 65.05 |
|
|
1 |
INR 90.41 |
|
Euro |
1 |
INR 79.83 |
INFORMATION DETAILS
|
Information
Gathered by : |
AKY |
|
|
|
|
Analysis Done by
: |
PRY |
|
|
|
|
Report Prepared
by : |
IND |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--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 be considered as unfavorable.
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.