|
|
|
MIRA INFORM REPORT
|
Report No. : |
486633 |
|
Report Date : |
18.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
FORTUNE METALIKS LIMITED |
|
|
|
|
Registered
Office : |
Ferozepur Road, Opposite Circut House, Ludhiana-141001, Punjab |
|
Tel. No.: |
91-161-2402763 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
01.07.2008 |
|
|
|
|
Com. Reg. No.: |
16-032063 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 37.009 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27100PB2008PLC032063 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
GSTIN No.: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCF3202D |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is
engaged into Manufacturing, Producing and Processing of TMT Bars, Ingots,
Billets and Structure Steel. [Registered Activity] |
|
|
|
|
No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of “Fortune Group” and was incorporated in the year
2008. Management has failed to file its financials with the Registrar of
Companies for the FY 2017. Further, as per Registrar of Companies, the date
of balance sheet i.e. financials filed is shown as 31st March,
2016 but documents related to the financials for the year 2016 are not
available from any sources. For the FY 2015, the company has achieved revenue growth of 32.63% as
compared to the previous year but has reported low profit margin of 0.79%. The overall financial profile of the company seems to be satisfactory
marked by sufficient networth base along with average debt balance sheet
profile. Rating however, gets constrained on account of absence of latest
financials. Payments are reported to be slow but correct. In view of aforesaid, the company can be considered for business
dealings with some caution. |
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 18.01.2018.
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 DENIED BY
|
Name : |
Mr. Bhagwan Dass Bansal |
|
Designation : |
Director |
|
Contact No.: |
91-1765-507574 |
|
|
|
|
Name : |
Mr. R.N. Singla |
|
Designation : |
Accountant |
|
Contact No.: |
91-97550012510 |
|
Date : |
17.01.2017 |
LOCATIONS
|
Registered Office : |
Ferozepur Road, Opposite Circut House, Ludhiana-141001, Punjab, India |
|
Tel. No.: |
91-161-2402763 |
|
Mobile No.: |
91-957600010 (Mr. Deep Bansal).
|
|
Fax No.: |
91-161-2403009 |
|
E-Mail : |
|
|
|
|
|
Corporate Office : |
Flat No – G-1701, 17th Floor, La- Lagune Apartments, Sector-54, Golf Course Road, Near Vatika Towers, Gurugram – 122002, Haryana, India |
|
Tel. No.: |
91-124-4985080/81 |
|
|
|
|
Factory 1 : |
Talwara Road,
Mandi Gobindgarh, District Fatehgarh Sahib Punjab-147301, India |
|
Tel. No.: |
91-1765-507574 /
75 / 76 / 77 |
|
Fax No.: |
91-1765-507578 |
|
E-Mail : |
|
|
|
|
|
Factory 2 : |
24 Milestone, V.P.O. Kapasda, Bilaspur-Raipur Highway, Raipur-493221, Chhattisgarh, India |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Bhagwan Dass Bansal |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
709-B, Aggar Nagar, Ludhiana – 144001, Punjab, India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
29.02.1956 |
||||||||||||||||||||||||||||||||||||||||
|
Qualification: |
Graduation |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.07.2008 |
||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AASPB0235C |
||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00732496 |
||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Deep Bansal |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
709 - B, 1st Floor, Aggar Nagar, Ludhiana – 141001, Punjab, India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
17.06.1980 |
||||||||||||||||||||||||||||||||||||||||
|
Qualification: |
B. Com. |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.07.2008 |
||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AECPB3508A |
||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00732622 |
||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Saurabh Bansal |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
709-B, Sector B, Aggar Nagar, Ward No.43, Ludhiana – 141006, Punjab, India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
16.05.1985 |
||||||||||||||||||||||||||||||||||||||||
|
Qualification: |
B. Com. |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
15.07.2009 |
||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AHQPB4699F |
||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00970252 |
||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Ashwani Kumar |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
Flat No. 404, Building No. 15, Ashoka Ratan Vidhansabha Road, Mowa, Raipur – 492001, Chhattisgarh, India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
19.02.1975 |
||||||||||||||||||||||||||||||||||||||||
|
Qualification: |
B. Com. |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.07.2008 |
||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
ADDPK9883H |
||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
01006868 |
||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Raghu Nandan Singla |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Whole Time Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
68-N, Rajguru Nagar, Near Royal Palace, Ludhiana – 141001, Punjab, India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
16.08.1973 |
||||||||||||||||||||||||||||||||||||||||
|
Qualification: |
Chartered Accountant |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.02.2014 |
||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AMGPS6777A |
||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
01799860 |
||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Ms. Aarti Rawat |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Additional Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
A-32, Block A, Jitar Nagar, Krishna Nagar, Delhi – 110051, India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
15.01.2016 |
||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
07156525 |
||||||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. R.N. Singla |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS
AS ON 31.03.2016
|
Names of Shareholders [Ordinary Equity Shares] |
|
No. of Shares |
|
Ashwani Kumar |
|
260000 |
|
Shweta Goyal |
|
76950 |
|
Saurabh Bansal |
|
55000 |
|
Deep Bansal |
|
90000 |
|
Bhagwan Dass
Bansal |
|
73000 |
|
Nitika Bansal |
|
5000 |
|
Uma Bansal |
|
80000 |
|
Global
Transmission Private Limited, India |
|
480000 |
|
Shweta Agro Farms
Private Limited, India |
|
136000 |
|
A.N. Trading
Private Limited, India |
|
99000 |
|
Balram Alloys
Private Limited, India |
|
171000 |
|
Gobind Ingots Private
Limited, India |
|
137000 |
|
Shivangan Tie-UP
Private Limited, India |
|
980000 |
|
Fantastic
Commercial (P) Limited, India |
|
65000 |
|
Fortune Re-Rollers
(P) Limited, India |
|
60000 |
|
B.D. Bansal, Karta
(B.D. Bansal H.U.F) |
|
29000 |
|
Rosewood
Mercantile Private Limited, India |
|
402600 |
|
J R Finance
Limited, India |
|
573300 |
|
Total |
|
3772850 |
|
Names of Shareholders [Equity Shares] |
|
No. of Shares |
|
Interface Financial Services Limited |
|
206000 |
|
Sun and Shine Worldwide Limited |
|
233900 |
|
Advaith Investments Limited |
|
165996 |
|
Total |
|
605896 |
AS ON 30.09.2016
|
Equity Share
Break up |
Percentage |
|
Category |
|
|
Promoters – [Individual/Hindu Undivided Family – Indian] |
15.28 |
|
Promoters – [Bodies corporate] |
45.74 |
|
Public/Other than promoters -[Bodies corporate] |
38.98 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject
is engaged into Manufacturing, Producing and Processing of TMT Bars, Ingots,
Billets and Structure Steel. [Registered Activity] |
||||
|
|
|
||||
|
Products / Services
: |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Information denied by the management |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
Davinder Pal Singh and Company Chartered Accountants |
|
Address : |
524-L, Model Town, Opp. Bawa Bakery, Ludhiana, Punjab, India |
|
PAN No.: |
AACFD9127D |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiary: [As On 30.09.2016] |
|
|
|
|
|
Other Related Party : [As On 31.03.2015] |
Fortune Metals Limited, India [CIN NO.: U27100PB2004PLC027603] |
CAPITAL STRUCTURE
AS ON 30.09.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3773000 |
Ordinary Equity Shares |
INR 10/- each |
INR 37.730 Million |
|
610000 |
Equity Shares |
INR 10/- each |
INR 6.100 Million |
|
|
Total |
|
INR 43.830
Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3772850 |
Ordinary Equity Shares |
INR 10/- each |
INR 37.729 Million |
|
605896 |
Equity Shares |
INR 10/- each |
INR 6.058Million |
|
|
Total |
|
INR 43.787
Million |
AS ON 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3750000 |
Equity Shares |
INR 10/- each |
INR 37.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3700900 |
Equity Shares |
INR 10/- each |
INR 37.009 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
37.009 |
37.009 |
27.770 |
|
(b) Reserves &
Surplus |
506.642 |
477.202 |
350.633 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
10.000 |
0.000 |
45.320 |
|
Total Shareholders’ Funds
(1) + (2) |
553.651 |
514.211 |
423.723 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
399.613 |
483.411 |
358.262 |
|
(b) Deferred tax
liabilities (Net) |
60.795 |
46.908 |
35.963 |
|
(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) |
460.408 |
530.319 |
394.225 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
877.467 |
783.784 |
429.053 |
|
(b) Trade payables |
84.420 |
75.397 |
145.978 |
|
(c) Other current
liabilities |
156.829 |
99.651 |
160.716 |
|
(d) Short-term provisions |
7.148 |
3.684 |
5.175 |
|
Total Current Liabilities
(4) |
1125.864 |
962.516 |
740.922 |
|
|
|
|
|
|
TOTAL |
2139.923 |
2007.046 |
1558.870 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
693.270 |
762.444 |
498.775 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
91.747 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1.850 |
0.000 |
0.200 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
27.882 |
26.478 |
39.653 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
723.002 |
788.922 |
630.375 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
358.319 |
190.468 |
223.440 |
|
(c) Trade receivables |
887.712 |
822.254 |
486.751 |
|
(d) Cash and cash equivalents |
39.533 |
56.490 |
74.337 |
|
(e) Short-term loans and
advances |
123.776 |
145.543 |
143.467 |
|
(f) Other current assets |
7.581 |
3.369 |
0.500 |
|
Total Current Assets |
1416.921 |
1218.124 |
928.495 |
|
|
|
|
|
|
TOTAL |
2139.923 |
2007.046 |
1558.870 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
3699.823 |
2789.396 |
2828.737 |
|
|
Other Income |
15.666 |
30.121 |
14.946 |
|
|
3715.489 |
2819.517 |
2843.683 |
|
|
|
TOTAL |
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
3216.781 |
2241.182 |
2245.941 |
|
|
Purchases of
Stock-in-Trade |
45.080 |
66.663 |
141.584 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(136.482) |
31.618 |
(46.970) |
|
|
Employees benefits
expense |
42.691 |
39.897 |
38.151 |
|
|
CSR Expenditure |
0.400 |
0.000 |
0.000 |
|
|
Other expenses |
251.530 |
217.734 |
228.661 |
|
|
TOTAL |
3420.000 |
2597.094 |
2607.367 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
295.489 |
222.423 |
236.316 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
171.870 |
142.382 |
123.106 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
123.619 |
80.041 |
113.210 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
78.084 |
47.741 |
40.514 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
45.535 |
32.300 |
72.696 |
|
|
|
|
|
|
|
Less |
TAX |
16.245 |
11.374 |
22.851 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
29.290 |
20.926 |
49.845 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
97.717 |
76.791 |
26.946 |
|
|
|
|
|
|
|
Add |
Transfer from fixed
assets schedule |
0.116 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
127.123 |
97.717 |
76.791 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
Export
Earnings |
4.038 |
112.509 |
2.27 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
|
|
|
Basic |
7.91 |
5.65 |
17.95 |
|
|
Diluted |
7.91 |
5.65 |
17.95 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
81.469 |
47.228 |
49.000 |
|
Net cash flow from (used in) operations |
90.954 |
(261.160) |
74.837 |
|
Net cash flows from (used in) operating activities |
85.263 |
(269.543) |
160.330 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Average Collection Days [Sundry Debtors / Income *
365] |
87.58 |
107.59 |
62.81 |
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
4.17 |
3.39 |
5.81 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
9.45 |
11.92 |
22.32 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.82 |
1.17 |
1.06 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.43 |
0.29 |
0.40 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.75 |
0.74 |
0.74 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
2.45 |
2.56 |
1.97 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
2.03 |
1.87 |
1.75 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
1.25 |
1.48 |
1.39 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
1.72 |
1.56 |
1.92 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
PAT to Sales ((PAT / Sales) * 100) |
% |
0.79 |
0.75 |
1.76 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
1.37 |
1.04 |
3.20 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
5.29 |
4.07 |
11.76 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.26 |
1.27 |
1.25 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.94 |
1.07 |
0.95 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.26 |
0.26 |
0.27 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
36.71 |
35.52 |
30.12 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.26 |
1.27 |
1.25 |
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 |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
27.770 |
37.009 |
37.009 |
|
Reserves & Surplus |
350.633 |
477.202 |
506.642 |
|
Share Application money pending allotment |
45.320 |
0.000 |
10.000 |
|
Net
worth |
423.723 |
514.211 |
553.651 |
|
|
|
|
|
|
Long Term borrowings |
358.262 |
483.411 |
399.613 |
|
Short Term borrowings |
429.053 |
783.784 |
877.467 |
|
Current Maturities of Long term debt |
49.000 |
47.228 |
81.469 |
|
Total
borrowings |
836.315 |
1314.423 |
1358.549 |
|
Debt/Equity
ratio |
1.974 |
2.556 |
2.454 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales
|
2828.737 |
2789.396 |
3699.823 |
|
|
|
(1.391) |
32.639 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales
|
2828.737 |
2789.396 |
3699.823 |
|
Profit |
49.845 |
20.926 |
29.290 |
|
|
1.76% |
0.75% |
0.79% |
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 |
No |
|
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 |
FINANCIAL ANALYSIS AND
REVIEW OF OPERATIONS/STATE OF AFFAIRS: [As On 31.03.2015]
• Production and Sales Review:
During the year, the Company has registered Revenue from Operations (turnover) of INR 3715.489 Million as compared to INR 2819.518 Million showing decrease of 32 % over previous year. The business wise performance is as under:-
a) TMT Bars:
The production of TMT Bars decreased from 64386.740 MT to 53563.580 MT, showing decrease of 16.81% over the previous year. The Sale revenue of TMT Bars decreased from INR 2224.406 Million to INR 1810.444 Million during the year showing decrease of 18.62%.
b) Ingots/Billets:
During the year, the production of Ingots/Billets increased from 17220.520 MT to 17695.470 MT, showing an increase of 2.76% over the previous year.
c) Structure:
The production of Structure Steel Increased from 14501.630 MT to 53563.580 MT (2015), showing Increase of 269.36% over the previous year.
The Sale revenue of Structure Steel increased from INR 437.186 Million to INR 1793.870 (2015) Million during the year under review showing Increase of 310.32%.
• Profitability:
The Company has earned Profit before Depreciation; Interest and Tax (PBDIT) of INR 295.489 Million as against INR 222.423 Million in the previous year. After providing for depreciation of INR 78.084 Million (previous year INR 47.741) Million, Interest & Financial Charges of INR 171.870 Million.
(Previous year INR 142.382 Million), Provision for tax of INR 16.244 Million (previous year INR 11.375 Million), the net profit from operations worked out to INR 29.291 Million as compared to INR 20.925 Million in the previous year.
• Utilisation of Resources:
a) Fixed Assets:
The net fixed assets (including work in progress) as at 31st March, 2015 were INR 693.270 Million as compared to INR 762.444 Million in the previous year.
b) Current Assets:
The Current Assets as at 31st March, 2015 were INR 1417.000 Million as against 1218.123 Million in the previous year.
UNSECURED LOANS:
|
Particulars |
31.03.2015 INR In Million |
31.03.2014 INR In Million |
|
LONG-TERM
BORROWINGS |
|
|
|
Other loans and advances |
4.634 |
7.061 |
|
Total |
4.634 |
7.061 |
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G10625689 |
100047845 |
STATE BANK OF INDIA |
02/02/2016 |
- |
- |
173000000.0 |
IFB, GOLDEN TOWER, DHOLEWAL CHOWK, LUDHIANA – 141001, PUNJAB, INDIA |
|
2 |
G38937033 |
10582802 |
STATE BANK OF INDIA |
02/07/2015 |
25/01/2017 |
- |
50000000.0 |
INDUSTRIAL FINANCE BRANCH, GOLDEN TOWER, DHOLEWAL CHOWK, LUDHIANA -141001, PUNJAB, INDIA |
|
3 |
C09285891 |
10506000 |
STATE BANK OF INDIA |
06/06/2014 |
- |
- |
270000000.0 |
SME, SUNDER NAGAR, LUDHIANA – 141008, PUNJAB, INDIA |
|
4 |
G05393079 |
10503356 |
STATE BANK OF INDIA |
23/05/2014 |
13/01/2016 |
- |
1440000000.0 |
IFB BRANCH, GOLDEN TOWER, DHOLEWAL CHOWK, LUDHIANA – 141001, PUNJAB, INDIA |
|
5 |
B75063610 |
10425984 |
STATE BANK OF PATIALA |
22/04/2013 |
- |
- |
270000000.0 |
COMMERCIAL BRANCH, MILLER GANJ, LUDHIANA – 141008, PUNJAB, INDIA |
|
6 |
G57428690 |
10280387 |
STATE BANK OF INDIA |
01/03/2011 |
12/10/2017 |
- |
1018000000.0 |
IFB, GOLDEN TOWER, DHOLEWAL CHOWK, LUDHIANA – 141001, PUNJAB, INDIA |
|
7 |
A86690013 |
10221522 |
STATE BANK OF PATIALA |
10/05/2010 |
- |
- |
350000000.0 |
COMMERCIAL BRANCH, AARTI COMPLEX, VISHWAKARMA CHOWK, LUDHIANA, LUDHIANA – 141008, PUNJAB, INDIA |
|
8 |
G08520678 |
10345111 |
J. R. FINANCE LIMITED |
07/03/2012 |
- |
08/07/2016 |
75000000.0 |
238, LUDHIANA STOCK EXCHANGE BUILDING, FEROZE GANDHI MARKET, LUDHIANA – 141002, PUNJAB, INDIA |
|
9 |
C41535816 |
10466585 |
STATE BANK OF INDIA |
24/10/2013 |
- |
23/01/2015 |
926000000.0 |
SME, SUNDER NAGAR, LUDHIANA, LUDHIANA – 141008, PUNJAB, INDIA |
|
10 |
C41538075 |
10466616 |
STATE BANK OF INDIA |
24/10/2013 |
- |
23/01/2015 |
470000000.0 |
SME, SUNDER NAGAR, LUDHIANA, LUDHIANA – 141008, PUNJAB, INDIA |
CONTINGENT LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
|
Guarantees |
0.658 |
0.375 |
|
Other money for which company is contingently liable |
56.117 |
30.952 |
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 |
|
INR 63.98 |
1 |
INR 63.98 |
|
INR 88.13 |
1 |
INR 88.13 |
|
INR 78.35 |
1 |
INR 78.35 |
INFORMATION DETAILS
|
Information
Gathered by : |
SWT |
|
|
|
|
Analysis Done by
: |
PRI |
|
|
|
|
Report Prepared
by : |
GEET |
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.