|
|
|
MIRA INFORM REPORT
|
Report No. : |
483900 |
|
Report Date : |
03.01.2017 |
IDENTIFICATION DETAILS
|
Name : |
AKS ALLOYS PRIVATE LIMITED (w.e.f. 23.01.2001) |
|
|
|
|
Formerly Known
As : |
VENSAM STEEL INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Old Door Nos.84 and 85, New Nos.193 and 232, Wall Tax
Road, Chennai – 600003, Tamilnadu |
|
Tel. No.: |
91-44-43991234 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
25.01.1994 |
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|
|
|
Com. Reg. No.: |
18- 026627 |
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|
|
|
Capital
Investment / Paid-up Capital : |
INR 43.400 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51101TN1994PTC026627 |
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|
|
|
IEC No.: |
Not Divulged |
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|
|
|
GSTIN/UIN: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCA6937C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
Subject is engaged in the manufacturing and Importing of Iron and Steel, Iron Ingots
by using of various types of raw materials such as Iron Scraps, Sponge Iron,
Ferro Silicon and Silicon Manganese and also trades in MS Scrap. [Registered activity and also
confirmed by management] |
|
|
|
|
No. of Employees
: |
200 (Approximately) |
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 : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject was incorporated in the year 1994 having satisfactory track record. It is engaged in the manufacturing and Importing of Iron and Steel, Iron Ingots by using of various types of raw materials such as Iron Scraps, Sponge Iron, Ferro Silicon and Silicon Manganese and also trades in MS Scrap. For the financial year 2017, the company has achieved decent sales growth in its revenue as compared to its previous year but has reported low profit margin during the year. Rating takes into consideration, the satisfactory financial risk profile marked by adequate net worth base and strong debt protection metrics. Rating continue to derive strength from its long and established track record of its business operations backed by its well experienced promoters’ in industry. However, these rating gets partially offset by low operating margin due to fragmented and highly competitive steel industry which result to inability of subject to scale up its operations without facing profitability pressures. Payments are reported to be usually correct. In view of aforesaid, the company can be considered 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 (30.06.2017) |
Current Rating (30.09.2017) |
|
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
NOT AVAILABLE
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 03.01.2018
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 PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Sandeep Kothari |
|
Designation : |
Chief Executive Officer |
|
Contact No.: |
91-44-43991234 |
|
Date : |
03.01.2018 |
LOCATIONS
|
Registered Office : |
Old Door Nos.84 and 85, New Nos.193 and 232, Wall Tax Road,
Chennai – 600003, Tamilnadu, India |
|
Tel. No.: |
91-44-43991234 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
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Factory 1: |
R.S.No.81/1, 3 to 7, Eripakkam Village, Nettapakkam Commune, Pondicherry-605 106, Tamilnadu, India |
|
Tel. No.: |
91-431-26999388/308 |
|
|
|
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Factory 2: |
R.S.No.214 and 215,Thirukkanoor Road, Kalitherthal Kuppam
Village, |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Nemichand Kothari |
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|
Designation : |
Managing Director |
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Address : |
1/3, R.S.Pathy Street, New Washermentpet, Chennai- 600021,
Tamilnadu, India |
||||||||||||||||
|
Date of Appointment : |
25.01.1994 |
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DIN No.: |
00244707 |
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Other Directorship:
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|
||||||||||||||||
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Name : |
Mr. Vikrant Sharma |
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Designation : |
Director |
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Address : |
S-48, 6th Avenue, 20th Street, Anna Nagar, Chennai
-600040, Tamilnadu, India |
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|
Date of Birth/Age : |
14.01.1983 |
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Qualification: |
Graduate |
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Date of Appointment : |
25.01.1994 |
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DIN No.: |
00244483 |
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PAN No.: |
AUXPS5847A |
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Other Directorship:
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|
||||||||||||||||
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Name : |
Mr. Narendra Kumar Kothari |
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|
Designation : |
Director |
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|
Address : |
1/3, R.S.Pathy Street, New Washermentpet, Chennai- 600021,
Tamilnadu, India |
||||||||||||||||
|
Date of Birth/Age : |
01.07.1953 |
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Qualification: |
Graduate |
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Date of Appointment : |
25.01.1994 |
||||||||||||||||
|
DIN No.: |
00244605 |
||||||||||||||||
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PAN No.: |
ADLPN1767H |
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Other Directorship:
|
|||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Sandeep Kothari |
|
Designation : |
Chief Executive Officer |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
No. of Shares |
|
|
Nemi Chand Kothari |
|
207000 |
|
Sanjay Kumar Sharma |
|
199900 |
|
Narender Kumar Kothari |
|
5000 |
|
Meenu Sharma |
|
9000 |
|
Vikrant Sharma |
|
8100 |
|
Sandeep Kothari |
|
5000 |
|
Total |
|
434000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2017
|
Category |
Percentage |
|
Promoters- Individual/Hindu Undivided Family- Indian |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the manufacturing and Importing of Iron and Steel, Iron Ingots
by using of various types of raw materials such as Iron Scraps, Sponge Iron,
Ferro Silicon and Silicon Manganese and also trades in MS Scrap. [Registered activity and also
confirmed by management] |
||||
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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 Available |
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Imports : |
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Products : |
Raw material |
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Countries : |
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Terms : |
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Selling : |
Advance Payment and Cheque |
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Purchasing : |
Advance Payment and Cheque |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
End Users
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No. of Employees : |
200 (Approximately) |
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Bankers : |
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Facilities : |
(INR
In Million)
|
|
Auditors : |
|
|
Name : |
Abhay Jain and Company Chartered Accountants |
|
Address : |
Bushra House, Flat No. 4a, 2nd Floor, New No.6, Old No.46, Nowroji Road, Chennai – 600031, Tamilnadu, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAPFA5746C |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiary company: |
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|
|
|
Enterprises which are owned, or have significant influence of
or are partners with Key management personnel and their relatives: |
|
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,00,000 |
Equity Shares |
INR 100/- each |
INR 50.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,34,000 |
Equity Shares |
INR 10/- each |
INR 43.400 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
43.400 |
43.400 |
43.400 |
|
(b) Reserves &
Surplus |
100.167 |
95.064 |
90.388 |
|
(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) |
143.567 |
138.464 |
133.788 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
111.487 |
81.906 |
18.886 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
111.487 |
81.906 |
18.886 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
136.743 |
149.907 |
242.166 |
|
(b) Trade payables |
140.463 |
348.080 |
149.749 |
|
(c) Other current
liabilities |
15.585 |
76.539 |
41.409 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Current Liabilities
(4) |
292.791 |
574.526 |
433.324 |
|
|
|
|
|
|
TOTAL |
547.845 |
794.896 |
585.998 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
4.588 |
4.811 |
5.076 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
81.478 |
81.478 |
81.488 |
|
(c) Deferred tax assets
(net) |
0.746 |
1.018 |
1.332 |
|
(d) Long-term Loan and Advances |
26.122 |
33.918 |
39.747 |
|
(e) Other Non-current
assets |
0.012 |
0.012 |
0.002 |
|
Total Non-Current Assets |
112.946 |
121.237 |
127.645 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
75.429 |
38.547 |
63.824 |
|
(c) Trade receivables |
265.902 |
540.918 |
217.902 |
|
(d) Cash and cash
equivalents |
31.058 |
34.671 |
32.039 |
|
(e) Short-term loans and
advances |
55.842 |
53.187 |
138.199 |
|
(f) Other current assets |
6.668 |
6.336 |
6.389 |
|
Total Current Assets |
434.899 |
673.659 |
458.353 |
|
|
|
|
|
|
TOTAL |
547.845 |
794.896 |
585.998 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
1445.897 |
1010.918 |
235.061 |
|
|
Other Income |
1.993 |
47.656 |
60.922 |
|
|
TOTAL |
1447.890 |
1058.574 |
295.983 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
48.062 |
68.322 |
86.567 |
|
|
Purchases of
Stock-in-Trade |
1378.108 |
917.861 |
138.019 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(52.080) |
0.669 |
(0.246) |
|
|
Employees benefits
expense |
3.580 |
1.890 |
1.964 |
|
|
Other expenses |
39.592 |
42.525 |
30.135 |
|
|
TOTAL |
1417.262 |
1031.267 |
256.439 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
30.628 |
27.307 |
39.544 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
23.870 |
20.907 |
37.738 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
6.758 |
6.400 |
1.806 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.223 |
0.265 |
0.301 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
6.535 |
6.135 |
1.505 |
|
|
|
|
|
|
|
Less |
TAX |
1.432 |
1.460 |
-0.744 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
5.103 |
4.675 |
2.249 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
12.00 |
11.00 |
5.18 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
0.192 |
(75.061) |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
0.192 |
(75.061) |
NA |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
67.12 |
195.30 |
338.36 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
5.44 |
1.87 |
1.08 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
35.95 |
128.83 |
243.37 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.41 |
0.71 |
0.62 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
6.68 |
5.68 |
7.79 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.74 |
0.83 |
0.77 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.73 |
1.67 |
1.95 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
2.04 |
4.15 |
3.24 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.03 |
0.03 |
0.04 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.28 |
1.31 |
1.05 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
0.35 |
0.46 |
0.96 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
0.93 |
0.59 |
0.38 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
3.55 |
3.38 |
1.68 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.49 |
1.17 |
1.06 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.23 |
1.11 |
0.91 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.26 |
0.17 |
0.23 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
5.72 |
5.34 |
6.02 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.49 |
1.17 |
1.06 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are INR
Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
43.400 |
43.400 |
43.400 |
|
Reserves & Surplus |
90.388 |
95.064 |
100.167 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
133.788 |
138.464 |
143.567 |
|
|
|
|
|
|
Long Term borrowings |
18.886 |
81.906 |
111.487 |
|
Short Term borrowings |
242.166 |
149.907 |
136.743 |
|
Total
borrowings |
261.052 |
231.813 |
248.230 |
|
Debt/Equity
ratio |
1.951 |
1.674 |
1.729 |
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
|
235.061 |
1010.918 |
1445.897 |
|
|
|
330.066 |
43.028 |
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
|
235.061 |
1010.918 |
1445.897 |
|
Profit |
2.249 |
4.675 |
5.103 |
|
|
0.96% |
0.46% |
0.35% |
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 |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
CORPORATE INFORMATION
Subject is a Private Limited Company and is closely held by AKS group. The Company incorporated under the provisions of the Companies Act, 1956 under RC No U51101TN1994PTCO26627 issued by the Registrar of Companies, Tamil Nadu. The Company is engaged in the manufacturing of Iron Ingots by using of various types of raw materials such as Iron Scraps, Sponge Iron, Ferro Silicon and Silicon Manganese and also trades in MS Scrap. The factory is situated at R.S. No. 881/1, 2 to 7, Eripakkam Village, Nettapakkam Commune, Puducherry-605106
UNSECURED LOANS:
(INR
In Million)
|
Particulars |
As
on 31.03.2017 |
As
on 31.03.2016 |
|
LONG TERM
BORROWING |
|
|
|
Term loans from others |
87.991 |
81.906 |
|
Total |
87.991 |
81.906 |
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G51178937 |
100117651 |
INDIAN OVERSEAS
BANK |
10/07/2017 |
- |
- |
270000000.0 |
KILPAUK BRANCH, NO.
477, KILPAUK GARDEN ROAD,KILPAUKCHENNAITN600010IN |
|
2 |
B65680001 |
10396381 |
INDIAN OVERSEAS
BANK KILPAUK BRANCH |
14/11/2012 |
- |
- |
415000000.0 |
477, KILPAUK
GARDEN ROADKILPAUKCHENNAITN600010IN |
|
3 |
A27922186 |
10080442 |
INDIAN OVERSEAS
BANK |
07/12/2007 |
- |
- |
137500000.0 |
KILPAUK BRANCH,
477 KILPAUK GARDEN ROADKILPAUKCHENNAITN600010IN |
|
4 |
B65728180 |
90282346 |
INDIAN OVERSEAS
BANK KILPAU BRANCH |
07/09/2001 |
14/11/2012 |
- |
423146700.0 |
477, KILPAUK GARDEN
ROADKILPAUKCHENNAITN600010IN |
|
5 |
Y10405271 |
90282344 |
INDIAN OVERSEAS
BANK |
01/09/2001 |
- |
- |
16500000.0 |
KILPAUK
BRANCHCHENNAITNIN |
|
6 |
Y10406023 |
90283096 |
INDIAN OVERSEAS
BANK |
23/10/2000 |
- |
- |
990000.0 |
PANDICHERY
BRANCH250; J.N. STREETPANDICHERYTNIN |
|
7 |
Y10405270 |
90282343 |
PONDICHERRY
INDUSTRIAL PROMOTION DEVELOPMENT INVESTMENT CO. |
13/08/2001 |
- |
01/03/2004 |
15000000.0 |
PONDICHERRYPONDICHERRYPY605001IN |
FIXED ASSETS:
Tangible assets
- 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 63.67 |
|
|
1 |
INR 86.11 |
|
Euro |
1 |
INR 76.59 |
INFORMATION DETAILS
|
Information Gathered
by : |
PUJ |
|
|
|
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
KVT |
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 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.