|
|
|
%20PRIVATE%20LIMITED%20-%20486719%2018-Jan-2017_files/image015.jpg){kind=small}
%20PRIVATE%20LIMITED%20-%20486719%2018-Jan-2017_files/image016.jpg)
%20PRIVATE%20LIMITED%20-%20486719%2018-Jan-2017_files/image018.gif)
MIRA INFORM REPORT
|
Report No. : |
486719 |
|
Report Date : |
18.01.2017 |
IDENTIFICATION DETAILS
|
Name : |
GOPANI IRON AND POWER (INDIA) PRIVATE LIMITED |
|
|
|
|
Formerly knowN
as : |
ASH AND ALI MARKETING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A-22, MIDC, Growth Center, Post Tadali, District Chanderpur – 442406,
Maharashtra |
|
Tel. No.: |
91-7172-237706/ 8/ 9 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
08.04.1988 |
|
|
|
|
Com. Reg. No.: |
11-046932 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 243.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74300MH1988PTC046932 |
|
|
|
|
IEC No.: |
0306001578 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
NGPG01095D |
|
|
|
|
GSTIN : |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCG0988N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of sponge iron and billets, and operates a captive power plant. The company also trader in hot-rolled, cold rolled, and galavanised coils and flat products. (Registered activity) |
|
|
|
|
No. of Employees
: |
Information declined by the management |
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 |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Gopani Iron and Power India Private Limited is a subsidiary of “Gopani International Private Limited”. The company was incorporated in the year 1988. It is a manufacturer and trader of Steel. For the financial year 2017, the revenue of the company has decreased by 26.24% but has managed to maintain average profit margin of 5.58%. The sound financial profile of the company is marked by strong networth base along with strong debt coverage indicators due to low debt balance sheet profile. Rating takes into consideration equity infused by its promoters. Rating also takes into consideration strong financial and managerial support that company receives from its holding entity backed by its well experience management team. Rating also derives strength from company’s established track record of business. However, rating strengths are partially offset highly competitive steel industry. 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 |
CRISIL |
|
Rating |
Long Term = BB+ |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
10.02.2017 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term = A4+ |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
10.02.2017 |
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 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
MANAGEMENT NON-COOPERATIVE: Tel. No.: 91-7172-237709
LOCATIONS
|
Registered Office/ Factory : |
A-22, MIDC, Growth Center, Post Tadali, District Chanderpur – 442406,
Maharashtra, India |
|
Tel. No.: |
91-7172-237706/ 8/ 9 / 883 |
|
Fax No.: |
91-7172-237707 |
|
E-Mail : |
|
|
Website : |
|
|
Location |
Owned |
|
Locality : |
Industrial |
|
|
|
|
Corporate Office : |
52/A 1st Floor, Opposite Bharat Chamber, Baroda Street, Carnac Bunder,
Masjid (East) Mumbai - 400009, Maharashtra, India |
|
Tel. No.: |
91-22-23485032 |
|
Fax No.: |
91-22-23485038 |
|
|
|
|
Head Office : |
Uttam House, Office No.2, Ground Floor, P. D’Mello Road, Carnac
Bunder, Mumbai – 400009, Maharashtra, India |
|
Tel. No.: |
91-22-23480949 |
|
Fax No.: |
91-22-23481361 |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Jignesh Gunvant Gopani |
||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
604 – C Laxmi Apartments, Block No. 1, Lady Jahangir Road, Mumbai – 400014,
Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
09.03.1975 |
||||||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
B.com |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
10.09.2000 |
||||||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AAAPG8763C |
||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00091073 |
||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Jayant Hiralal Shah |
||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Plot No.9-11, Sujay Garden, 12, Mukund Nagar, Gultekdi, Pune – 411037,
Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
09.11.1960 |
||||||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
B.com |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
27.06.2006 |
||||||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AEGPS3036L |
||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00185389 |
||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Hanuman Prasad Vyas |
|
Designation : |
Secretary |
|
Address : |
104 , Mansarovar, 6-7 , Mount Pleasant Road, Malabar Hill,
Mumbai - 400006, Maharashtra, India |
|
Date of Appointment : |
01.09.2012 |
|
PAN No: |
AABPV8267D |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Gopani International Private Limited |
|
22468320 |
|
Bharti Gopani |
|
2100 |
|
Jignesh Gopani |
|
8100 |
|
Javant Shah |
|
910740 |
|
Malav J. Shah |
|
910740 |
|
Total |
|
24300000 |
Equity Share Break up (Percentage of Total Equity)
As on 28.09.2017
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided
Family – Indian) |
7.54 |
|
Promoter - Bodies
corporate |
92.46 |
|
Total |
100.00 |
%20PRIVATE%20LIMITED%20-%20486719%2018-Jan-2017_files/image020.gif)
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of sponge iron and billets, and operates a captive power plant. The company also trader in hot-rolled, cold rolled, and galavanised coils and flat products. (Registered activity) |
||||||||
|
|
|
||||||||
|
Products : |
|
||||||||
|
|
|
||||||||
|
Brand Names : |
Not Divulged |
||||||||
|
|
|
||||||||
|
Agencies Held : |
Not Divulged |
||||||||
|
|
|
||||||||
|
Exports : |
Not Divulged |
||||||||
|
|
|
||||||||
|
Imports : |
Not Divulged |
||||||||
|
|
|
||||||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
|
No. of Employees : |
Information declined by the management |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
Vinod S. Mehta and Company Chartered Accountant |
|
Address : |
114, Jolly Bhavan, 10, New Marine Lines, Mumbai - 400020, Maharashtra,
India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AADFV0519Q |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding company : |
|
|
|
|
|
Subsidiary Company
: |
|
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key management
personnel and their relatives : |
U51900MH1982PTC027434
U26999MH2006PTC161368
U26940MH2006PTC161339
U51909MH2002PTC134615
U45202PN2003PLC018435
|
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24500000 |
Equity Shares |
INR 10/- each |
INR 245.000 Million |
|
50000 |
Preference Shares |
INR 100/- each |
INR 5.000 Million |
|
|
|
|
|
|
|
Total |
|
INR 250.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24300000 |
Equity Shares |
INR 10/-
each |
INR 243.000
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 |
243.000 |
243.000 |
243.000 |
|
(b) Reserves and Surplus |
766.900 |
564.320 |
522.800 |
|
(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) |
1009.900 |
807.320 |
765.800 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
779.857 |
893.307 |
1016.800 |
|
(b) Deferred tax liabilities (Net) |
173.825 |
145.473 |
122.500 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
6.852 |
7.497 |
6.800 |
|
Total Non-current Liabilities
(3) |
960.534 |
1046.277 |
1146.100 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
2.479 |
0.000 |
116.000 |
|
(b) Trade
payables |
395.300 |
680.479 |
482.300 |
|
(c) Other
current liabilities |
175.569 |
265.042 |
300.900 |
|
(d) Short-term
provisions |
0.198 |
0.331 |
0.600 |
|
Total Current
Liabilities (4) |
573.546 |
945.852 |
899.800 |
|
|
|
|
|
|
TOTAL |
2543.980 |
2799.449 |
2811.700 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
857.231 |
831.714 |
863.800 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Tangible assets
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 |
8.362 |
8.362 |
7.400 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
125.488 |
91.125 |
81.300 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
991.081 |
931.201 |
952.500 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
736.525 |
492.656 |
486.300 |
|
(c) Trade
receivables |
379.297 |
721.037 |
908.300 |
|
(d) Cash and
bank balances |
33.109 |
125.577 |
106.600 |
|
(e)
Short-term loans and advances |
271.110 |
395.746 |
223.500 |
|
(f) Other
current assets |
132.858 |
133.232 |
134.500 |
|
Total
Current Assets |
1552.899 |
1868.248 |
1859.200 |
|
|
|
|
|
|
TOTAL |
2543.980 |
2799.449 |
2811.700 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
2738.962 |
3713.688 |
3909.700 |
|
|
Other Income |
164.320 |
137.975 |
152.200 |
|
|
TOTAL |
2903.282 |
3851.663 |
4061.900 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1998.267 |
2106.518 |
2156.300 |
|
|
Purchases of
Stock-in-Trade |
219.292 |
1285.478 |
1335.400 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(66.211) |
(99.195) |
105.400 |
|
|
Employee benefit expense |
38.884 |
37.172 |
49.400 |
|
|
Other expenses |
412.893 |
355.406 |
269.600 |
|
|
Prior period items before tax |
0.129 |
0.000 |
0.000 |
|
|
TOTAL |
2603.254 |
3685.379 |
3916.100 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
300.028 |
166.284 |
145.800 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
14.887 |
55.156 |
59.700 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
285.141 |
111.128 |
86.100 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
52.330 |
51.317 |
58.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
232.811 |
59.811 |
28.100 |
|
|
|
|
|
|
|
Less |
TAX |
79.916 |
25.866 |
21.600 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
152.895 |
33.945 |
6.500 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
289.610 |
805.209 |
395.226 |
|
|
Components and spare
parts |
2.152 |
1.089 |
563.018 |
|
|
Capital Goods |
0.059 |
0.000 |
5.138 |
|
|
TOTAL IMPORTS |
291.821 |
806.298 |
963.382 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per Share
(INR) |
6.29 |
1.40 |
0.27 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
0.000 |
85.269 |
83.600 |
|
Net cash flows from (used in) operations |
57.333 |
237.308 |
(112.300) |
|
Net cash flows from (used in) operating activities |
35.719 |
268.029 |
(112.563) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
50.55 |
70.87 |
84.80 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
7.22 |
5.15 |
4.30 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
65.06 |
73.22 |
50.42 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.41 |
0.34 |
0.30 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.35 |
0.20 |
0.17 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.53 |
0.69 |
0.71 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.77 |
1.21 |
1.59 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities
/ Net Worth) |
0.57 |
1.17 |
1.17 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.85 |
1.03 |
1.13 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
20.15 |
3.01 |
2.44 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
5.58 |
0.91 |
0.17 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
6.01 |
1.21 |
0.23 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
15.14 |
4.20 |
0.85 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
2.71 |
1.98 |
2.07 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.42 |
1.45 |
1.53 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.40 |
0.29 |
0.27 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
3.22 |
4.03 |
5.01 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
2.71 |
1.98 |
2.07 |
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 |
243.000 |
243.000 |
243.000 |
|
Reserves & Surplus |
522.800 |
564.320 |
766.900 |
|
Net
worth |
765.800 |
807.320 |
1009.900 |
|
|
|
|
|
|
Long-term borrowings |
1016.800 |
893.307 |
779.857 |
|
Short term borrowings |
116.000 |
0.000 |
2.479 |
|
Current maturities of
long-term debts |
83.600 |
85.269 |
0.000 |
|
Total
borrowings |
1216.400 |
978.576 |
782.336 |
|
Debt/Equity
ratio |
1.588 |
1.212 |
0.775 |
%20PRIVATE%20LIMITED%20-%20486719%2018-Jan-2017_files/image022.gif)
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 |
3909.700 |
3713.688 |
2738.962 |
|
|
0.000 |
(5.013) |
(26.247) |
%20PRIVATE%20LIMITED%20-%20486719%2018-Jan-2017_files/image024.gif)
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 |
3909.700 |
3713.688 |
2738.962 |
|
Profit/ (Loss) |
6.500 |
33.945 |
152.895 |
|
|
0.17
% |
0.91
% |
5.58
% |
%20PRIVATE%20LIMITED%20-%20486719%2018-Jan-2017_files/image026.gif)
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 |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last 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 |
CORPORATE PROFILE:
Subject started its business activities in 2004 by setting up of Sponge Iron Plant at A-22, M.I.D.C., Growth Centre, Post- Tadali - 442406, Dist.Chandrapur (Maharashtra) which at present has the annual production capacity of 1.2Lacs MT. In financial year 2009-10, company also started operations from its Captive Power Plant having capacity of 15MW per Hour and Steel Melting Plant having annual Capacity of 75000 MT. With the captive Power Plant, the company is using the power generated in operating Sponge Iron Plant and Steel Melting Plant. Also at the same time finished goods from Sponge iron Plant which is Sponge Iron is used in Steel Melting Plant as one of the raw Material. Also with the help of vast experience of promoters in the field of Steel Industry, the company is also involved in the business of trading of Steel where company imports or locally procures steel products like HR Coils, CR Coils, Scrap and supplies to the local parties. In the year 2015-16, the company was involved in production activities from all three plants apart from trading activities.
OPERATIONS:
The Company’s total income for the Financial Year ended March 31, 2017 decreased to INR 2903.300 Million from 3851.700 Million but the Company has performed well in terms of Profit. The Company has earned a Profit before tax of INR 232.800 Million as Compared to Profit of INR 59.800 Million in previous Financial Year. The Board is hopeful of achieving better results in the coming Years.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from directors |
230.534 |
228.465 |
|
Loans and advances from others |
474.210 |
555.471 |
|
Other loans and advances, others |
75.113 |
64.113 |
|
Total |
779.857 |
848.049 |
INDEX
OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
A52814431 |
10008980 |
PUNJAB NATIONAL BANK |
27/06/2006 |
14/10/2008 |
- |
170000000.0 |
BRADY HOUSE,FORT,MUMBAIMH400001IN |
|
2 |
C71449169 |
10008972 |
PUNJAB NATIONAL BANK |
26/06/2006 |
04/11/2015 |
- |
1880000000.0 |
MID CORPORATE BRANCH, BRADY HOUSE,VEER NARIMAN ROAD , FORT ,MUMBAIMumbaiMH400022IN |
|
3 |
G63025175 |
10627750 |
ICICI BANK LIMITED |
12/02/2016 |
- |
03/11/2017 |
7200000.0 |
LANDMARKRACE COURCE CIRCLEALKAPURIBARODAGJ390015IN |
|
4 |
G06421929 |
10221860 |
PUNJAB NATIONAL BANK |
27/04/2010 |
- |
22/06/2016 |
6450000.0 |
MID CORPORATE BRANCH,BRADY HOUSE, V. N. ROAD,MUMBAIMH400001IN |
|
5 |
G06420723 |
10174350 |
PUNJAB NATIONAL BANK |
21/07/2009 |
- |
22/06/2016 |
6800000.0 |
BRADY HOUSE,FORT,MUMBAIMH400001IN |
|
6 |
C19995315 |
10300755 |
KOTAK MAHINDRA PRIME LIMITED |
30/11/2010 |
- |
26/08/2014 |
1162320.0 |
36-38A NARIMAN BHAVAN,227, NARIMAN POINT,MUMBAIMH400021IN |
|
7 |
C21015409 |
10267165 |
HDFC BANK LIMITED |
07/06/2010 |
- |
26/08/2014 |
1623000.0 |
HDFC BANK HOUSE, SENAPATI BAPAT MARG,LOWER PAREL (WEST),MUMBAIMH400013IN |
|
8 |
A02296069 |
80006975 |
UNION BANK OF INDIA |
07/11/2005 |
- |
20/07/2006 |
40000000.0 |
TUKARAM ROADMUMBAIMH400009IN |
CONTINGENT LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Guarantees |
30.605 |
24.935 |
|
Other money for which company is contingently liable |
87.516 |
85.666 |
FIXED ASSETS
- Land
- Buildings
- Residential building
- Factory building
- Plant and equipment
- Furniture and fixtures
- Vehicles
- 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 63.41 |
|
|
1 |
INR 87.17 |
|
Euro |
1 |
INR 77.44 |
INFORMATION DETAILS
|
Information Gathered
by : |
GYT |
|
|
|
|
Analysis Done by
: |
VRS |
|
|
|
|
Report Prepared
by : |
SUJ |
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.