|
|
|
MIRA INFORM REPORT
|
Report No. : |
483904 |
|
Report Date : |
04.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
SAR ISPAT PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No.193 and 232, Arihant Plaza, 3rd Floor, Wall tax Road, Chennai –
600003 Tamilnadu |
|
Tel. No.: |
91-44-43991234 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
15.01.1998 |
|
|
|
|
Com. Reg. No.: |
18-102002 |
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|
|
|
Capital
Investment / Paid-up Capital : |
INR 48.190 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27101TN1998PTC102002 |
|
|
|
|
IEC No.: |
0598005081 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AABCS5915L |
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|
|
|
GSTIN : |
Not Divulged |
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|
|
|
Legal Form : |
Private Limited Liability Company. |
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|
|
|
Line of Business
: |
The Company is engaged in the Manufacturing of M.S. Ingots by using of various types of raw materials such as Iron Scraps, Sponge Iron, Ferro Silicon and Silicon Manganese. (Registered activity and also Confirmed by management) |
|
|
|
|
No. of Employees
: |
15 (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 |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject was incorporated in the 1998. It is a manufacturer of M.S. ingots
by using of various types of raw material such as iron craps, sponge iron,
ferro silicon, silicon manganese, etc. For the financial year ended 2017, the company has achieved a decent
growth of 48.63% in its revenue as compared to the previous year’s revenue
and has reported a low profit margin of 0.69%. The overall financial position of the company seems to be satisfactory
marked by adequate net worth base along with comfortable debt level and
average liquidity position. Business is active. Payments are reported to be slow but 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
|
Rating Agency Name |
BRICKWORKS |
|
Rating |
Long Term Loan = BB+ |
|
Rating Explanation |
Moderate risk of default |
|
Date |
12.07.2017 |
|
Rating Agency Name |
BRICKWORKS |
|
Rating |
Short Term Loan = A4+ |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
12.07.2017 |
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 04.01.2018
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
|
Name : |
Mr. Rohit Jaiswal |
|
Designation : |
Purchase Manager |
|
Contact No.: |
91-44-43991234 |
|
Date : |
03.12.2018 |
LOCATIONS
|
Registered Office : |
No.193 and 232, Arihant Plaza, 3rd Floor, Wall tax Road, Chennai –
600003 Tamilnadu, India |
|
Tel. No.: |
91-44-43991234 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
Locality : |
Industrial |
|
|
|
|
Factory : |
R. S. No. 214/215, ViII-Kalithirthal, Pondicherry – 605001, India |
|
Tel. No.: |
91-413-2641830 |
|
Fax No.: |
91-413-2641005 |
|
|
|
|
Warehouse : |
No. 255/3, Sadayankuppam Village Road, Manali, Chennai – 600103,
Tamilnadu, India |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Sandeep Kothari |
||||||||||||||||
|
Designation : |
Director |
||||||||||||||||
|
Address : |
1/3 R.S. Pathy Street, New Washermenpet, Chennai - 600021, Tamilnadu,
India |
||||||||||||||||
|
Date of Birth/Age : |
20.08.1982 |
||||||||||||||||
|
Qualification : |
Graduate |
||||||||||||||||
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Date of Appointment : |
10.12.2007 |
||||||||||||||||
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PAN No.: |
AAOPK1911C |
||||||||||||||||
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DIN No.: |
00238993 |
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Other Directorship:
|
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|
||||||||||||||||
|
Name : |
Mr. Sharma Sanjay Kumar |
||||||||||||||||
|
Designation : |
Additional Director |
||||||||||||||||
|
Address : |
29/4, 4th Row House, Ranganathan Avenue, Kilpauk, Chennai - 600010,
Tamilnadu, India |
||||||||||||||||
|
Date of Birth/Age : |
05.05.1968 |
||||||||||||||||
|
Qualification : |
Graduate |
||||||||||||||||
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Date of Appointment : |
01.09.2007 |
||||||||||||||||
|
PAN No.: |
AAMPS7720F |
||||||||||||||||
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DIN No.: |
00244366 |
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Other Directorship:
|
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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 : |
17.10.2016 |
||||||||||||||||
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PAN No.: |
AUXPS5847A |
||||||||||||||||
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DIN No.: |
00244483 |
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Other Directorship:
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|
||||||||||||||||
|
Name : |
Mr. Karuppusamy Pillai Ganesan Sreedanusya |
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|
Designation : |
Director |
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|
Address : |
47 A, Sankar Nagar, Balaji Apartment, Karur – 639004, Tamilnadu, India |
||||||||||||||||
|
Date of Appointment : |
17.03.2017 |
||||||||||||||||
|
DIN No.: |
07769255 |
||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Rohit jaiswal |
|
Designation : |
Purchase Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Nemi Chand Kothari |
69001 |
1.43 |
|
Sanjay Kumar Sharma |
69000 |
1.43 |
|
Aks Alloys (Private) Limited |
3834429 |
79.57 |
|
Mignasty Commerce Private Limited |
846570 |
17.57 |
|
Total |
4819000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2017
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family - Indian) |
2.00 |
|
Promoters (Body corporate) |
98.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in the Manufacturing of M.S. Ingots by using of various types of raw materials such as Iron Scraps, Sponge Iron, Ferro Silicon and Silicon Manganese. (Registered activity and also Confirmed by management) |
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Products : |
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||||||
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Available |
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Imports : |
Not Available |
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||||||
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Terms : |
|
||||||
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Selling : |
Advance Payment, L/C, Cheque, Credit (60 days), RTGS, NEFT |
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|
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Purchasing : |
Advance Payment, L/C, Cheque, Credit (60 days), RTGS, NEFT |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers, Retailers, Manufacturer
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No. of Employees : |
15 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
Abhay Jain and Company Chartered Accountants |
|
Address : |
Bushra House, Flat No: 4A, 2nd Floor, New No: 6, Old No:
46, Chennai – 600031, Tamilnadu, India |
|
Tel. No.: |
91-44-26402565 |
|
Mobile No.: |
91-94444 65602 |
|
E-mail : |
|
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAFPJ7811D |
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|
|
|
Memberships : |
Not Available |
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|
|
|
Collaborators : |
Not Available |
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|
|
|
Holding Company : |
U51101TN1994PTC026627 |
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|
|
|
Associate Company : |
U18209WB1993PTC059204 |
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|
|
|
Other Related Party : |
U51900TN2008PTC069382 |
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
INR 10/- each |
INR 50.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4819000 |
Equity Shares |
INR 10/- each |
INR 48.190 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
48.190 |
48.190 |
48.190 |
|
(b) Reserves &
Surplus |
123.748 |
112.285 |
104.222 |
|
(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) |
171.938 |
160.475 |
152.412 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
197.229 |
179.618 |
50.326 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
402.002 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
599.231 |
179.618 |
50.326 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
119.955 |
121.540 |
167.144 |
|
(b) Trade payables |
266.370 |
288.493 |
263.964 |
|
(c) Other current
liabilities |
26.965 |
31.143 |
84.953 |
|
(d) Short-term provisions |
2.507 |
0.715 |
0.000 |
|
Total Current Liabilities
(4) |
415.797 |
441.891 |
516.061 |
|
|
|
|
|
|
TOTAL |
1186.966 |
781.984 |
718.799 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
515.402 |
55.109 |
45.160 |
|
(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 |
0.100 |
0.100 |
0.100 |
|
(c) Deferred tax assets
(net) |
2.570 |
2.517 |
2.302 |
|
(d) Long-term Loan and Advances |
7.949 |
12.197 |
0.000 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.735 |
|
Total Non-Current Assets |
526.021 |
69.923 |
48.297 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
119.657 |
107.771 |
91.081 |
|
(c) Trade receivables |
294.268 |
336.330 |
64.300 |
|
(d) Cash and cash
equivalents |
43.878 |
41.206 |
38.963 |
|
(e) Short-term loans and
advances |
203.142 |
226.754 |
476.158 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
660.945 |
712.061 |
670.502 |
|
|
|
|
|
|
TOTAL |
1186.966 |
781.984 |
718.799 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
1667.901 |
1122.205 |
540.948 |
|
|
Other Income |
4.730 |
41.344 |
58.887 |
|
|
TOTAL |
1672.631 |
1163.549 |
599.835 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of
Stock-in-Trade |
1399.579 |
860.176 |
406.799 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(39.217) |
(43.520) |
4.445 |
|
|
Employees benefits
expense |
6.925 |
6.047 |
2.918 |
|
|
Other expenses |
246.962 |
293.234 |
150.975 |
|
|
TOTAL |
1614.249 |
1115.937 |
565.137 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
58.382 |
47.612 |
34.698 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
38.296 |
31.491 |
22.383 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
20.086 |
16.121 |
12.315 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
6.466 |
7.823 |
9.107 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
13.620 |
8.298 |
3.208 |
|
|
|
|
|
|
|
Less |
TAX |
2.157 |
0.235 |
0.667 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
11.463 |
8.063 |
2.541 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
2.38 |
1.67 |
0.54 |
Expected Sales (2017-2018) : INR 1750.000 Million (Due to business
growth)
The above information has been parted by Mr. Rohit Jaiswal (Purchase
Manager)
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 |
|
Net cash flows from (used in) operations |
89.137 |
(79.789) |
NA |
|
Net cash flows from (used in) operating activities |
83.332 |
(103.144) |
NA |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
64.40 |
109.39 |
43.39 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
5.67 |
3.34 |
8.41 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
69.47 |
122.42 |
236.84 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.49 |
0.44 |
0.38 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.11 |
0.86 |
0.77 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.52 |
0.79 |
0.79 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
1.84 |
1.88 |
1.43 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
2.42 |
2.75 |
3.39 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
3.00 |
0.34 |
0.30 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
1.52 |
1.51 |
1.55 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
((PAT / Sales) * 100) |
% |
0.69 |
0.72 |
0.47 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
0.97 |
1.03 |
0.35 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
6.67 |
5.02 |
1.67 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.59 |
1.61 |
1.30 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.30 |
1.37 |
1.12 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.14 |
0.21 |
0.21 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
6.58 |
6.25 |
4.51 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.59 |
1.61 |
1.30 |
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 |
48.190 |
48.190 |
48.190 |
|
Reserves & Surplus |
104.222 |
112.285 |
123.748 |
|
Net
worth |
152.412 |
160.475 |
171.938 |
|
|
|
|
|
|
Long Term borrowings |
50.326 |
179.618 |
197.229 |
|
Short Term borrowings |
167.144 |
121.540 |
119.955 |
|
Total
borrowings |
217.470 |
301.158 |
317.184 |
|
Debt/Equity
ratio |
1.427 |
1.877 |
1.845 |
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
|
540.948 |
1122.205 |
1667.901 |
|
|
|
107.452 |
48.627 |
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
|
540.948 |
1122.205 |
1667.901 |
|
Profit |
2.541 |
8.063 |
11.463 |
|
|
0.47% |
0.72% |
0.69% |
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 |
Yes |
|
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% |
Yes |
|
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
CORPORATE INFORMATION
The company 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 U27101D11998PTC091700 issued by the Registrar of Companies, New Delhi. The Company is engaged in the manufacturing of M.S. Ingots by using of various types of raw materials such as Iron Scraps, Sponge Iron, Ferro Silicon and Silicon Manganese. The factory is situated at R.S. No. 214 and 215, Kalithirthal Kuppam Village, Thirukkanoor Road, Madagadipet PSR, Puducherry-605107.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans repayable on demand from |
194.719 |
175.503 |
|
|
|
|
|
Total |
194.719 |
175.503 |
INDEX
OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
B65680613 |
10396383 |
INDIAN OVERSEAS BANK KILPAUK BRANCH |
14/11/2012 |
- |
- |
423146700.0 |
477, Kilpauk Garden Road, Kilpauk, Chennai – 600010, Tamilnadu, India |
|
2 |
G51178838 |
10077857 |
Indian Overseas Bank |
08/12/2007 |
10/07/2017 |
- |
270000000.0 |
477, Kilpauk Garden Road, Kilpauk, Chennai – 600010, Tamilnadu, India |
|
3 |
A24344061 |
90055369 |
ORIENTAL BANK OF COMMERCE |
14/07/2004 |
- |
09/10/2007 |
30000000.0 |
OVERSEAS BRANCH; PADMA COMPLEX; 467, MOUNT ROAD, Chennai – 600035, Tamilnadu, India |
FIXED ASSETS
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON DESIGNATED
PARTY
No 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 : |
SHAL |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
KJL |
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.