|
|
|
MIRA INFORM REPORT
|
Report No. : |
487099 |
|
Report Date : |
23.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
SUNVIK STEELS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No 23, 3rd Floor, Next Mother Theresa School, Bahubali Nagar,
MES Road, Jalahalli, Bangalore – 560013, Karnataka |
|
Tel. No.: |
91-80-23084700 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
11.09.2003 |
|
|
|
|
Com. Reg. No.: |
08-032546 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 307.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27310KA2003PTC032546 |
|
|
|
|
IEC No.: |
0704020408 |
|
|
|
|
GSTIN/UIN: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAHCS6286N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of sponge iron, billets, power TMT bars Fly
ash bricks & blocks and Ready fix and also generates power for captive
consumption through its 10MW power plant. (Registered activity and also
confirmed by management) |
|
|
|
|
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 : |
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 |
|
|
|
|
Comments : |
Subject was incorporated in the year 2003 and it is having satisfactory track. It is engaged as manufacturer of sponge iron, billets, power TMT bars Fly ash bricks & blocks and Ready fix and also generates power for captive consumption through its 10MW power plant. Management of the company has not filed its financials of 2017 with government department. For the financial year 2016, the company has registered decrease in its revenue from operation and maintained minimal profitability margin of 0.34%. Rating takes into consideration sound financial profile of the company marked by adequate networth base and average debt balance sheet. Further, rating also reflects company’s long standing track records of business operation and marginal improvement in the profitability profile during the year. However, rating strengths are partially offset by low profitability margin during the year along with volatility in steel prices, intensively competitive and cyclical steel industry. Trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. 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 |
SMERA |
|
Rating |
Long term rating: BBB |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
31.01.2017 |
|
Rating Agency Name |
SMERA |
|
Rating |
Short term rating: A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
31.01.2017 |
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 22.01.2018
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. Kishor |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-80-23084700 |
|
Date : |
20.01.2018 |
LOCATIONS
|
Registered Office : |
No 23, 3rd Floor, Next Mother Theresa School, Bahubali
Nagar, MES Road, Jalahalli, Bangalore – 560013, Karnataka, India |
|
Tel. No.: |
91-80-23084700 |
|
Fax No.: |
91-80-23084799 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Survey No. 59-72, Jodidevarahalli, Kallambella Hobli, Sira
Taluk, District Tumkur – 572125, Karnataka, India |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Vivek Kumar Kejriwal |
||||||||||||||||
|
Designation : |
Managing director |
||||||||||||||||
|
Address : |
G-13/04, Platinum City, Yeshwantpur, Bangalore – 560022, Karnataka,
India |
||||||||||||||||
|
Date of Birth/Age : |
19.01.1971 |
||||||||||||||||
|
Date of Appointment : |
11.09.2003 |
||||||||||||||||
|
PAN No.: |
ACXPV7536R |
||||||||||||||||
|
DIN No.: |
00798892 |
||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Mr. Mahendra Kumar Prathaviraj Kachhara |
||||||||||||||||
|
Designation : |
Director |
||||||||||||||||
|
Address : |
# 9-D, Abhilasha, August Kranti Marg, Mumbai – 400036, Maharashtra,
India |
||||||||||||||||
|
Date of Birth/Age : |
11.02.1962 |
||||||||||||||||
|
Date of Appointment : |
11.09.2003 |
||||||||||||||||
|
DIN No.: |
02283218 |
||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Mr. Sandeep Manoharlal Shishodia |
||||||||||||||||
|
Designation : |
Director |
||||||||||||||||
|
Address : |
Sun Metal Castings, LLC, PO Box 3787, Ajman, UAE |
||||||||||||||||
|
Date of Birth/Age : |
26.10.1973 |
||||||||||||||||
|
Date of Appointment : |
11.09.2003 |
||||||||||||||||
|
PAN No.: |
BHOPS3381N |
||||||||||||||||
|
DIN No.: |
02908284 |
||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Mr. Ravi Murarka |
||||||||||||||||
|
Designation : |
Additional Director |
||||||||||||||||
|
Address : |
D/06/08, Platinum City, No-2, HMT Main Road, Next To Cmti, Yeshwanthpur, Bangalore – 560022, Karnataka, India |
||||||||||||||||
|
Date of Birth: |
21.08.1954 |
||||||||||||||||
|
Date of Appointment : |
26.06.2015 |
||||||||||||||||
|
DIN No.: |
07220688 |
||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Kishor |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Vivek Kumar Kejriwal |
|
4345053 |
|
Mahendra Kumar Prathaviraj Kachhara |
|
169810 |
|
Sandeep M Shishodia |
|
4304937 |
|
Anju Kejriwal |
|
50000 |
|
Anjana Devi Ranka |
|
860000 |
|
Premdevi Surender Kachhara, |
|
3270200 |
|
Total |
|
13000000 |
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
Vivek Kumar Kejriwal |
|
2492000 |
|
Mahaveer Kumar Ranka HUF |
|
50000 |
|
Sunitha M Ranka |
|
75000 |
|
Hemalatha Ashok Jain |
|
75000 |
|
Ashok Moolchand Jain |
|
50000 |
|
Dyna Trade Links Private Limited, India |
|
75000 |
|
Sunland Recycling Industries Limited, India |
|
150000 |
|
Sandeep M Shishodia |
|
733000 |
|
Total |
|
3700000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2017
|
Category |
Percentage |
|
Promoters- Individual/Hindu Undivided Family- Indian |
35.12 |
|
Promoters- Individual/Hindu Undivided Family- Foreign national (other than NRI) |
33.11 |
|
Public/Other than promoters- Individual/Hindu Undivided Family- Indian |
31.77 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of sponge iron, billets, power TMT bars Fly
ash bricks & blocks and Ready fix and also generates power for captive consumption
through its 10MW power plant. (Registered activity and also confirmed by
management) |
||||||||||||
|
|
|
||||||||||||
|
Products / Services
: |
|
||||||||||||
|
|
|
||||||||||||
|
Brand Names : |
Not Available |
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|
|
||||||||||||
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Agencies Held : |
Not Available |
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|
||||||||||||
|
Exports : |
Not Divulged |
||||||||||||
|
|
|
||||||||||||
|
Imports : |
Not Divulged |
||||||||||||
|
|
|
||||||||||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers (From Indirect
Sources): |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Information denied by the management |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
(INR
In Million)
|
|
Auditors : |
|
|
Name : |
P.K.Rungta and Company Chartered Accountants |
|
Address : |
D-1, Jyothi Complex, 134/1, Infantry Road, Bangalore -560 001, Karnataka, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAJPR5048Q |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Related party (AS ON 31.03.2016): |
|
CAPITAL STRUCTURE
AS ON 30.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16000000 |
Equity Shares |
INR 10/- each |
INR 160.000 Million |
|
3900000 |
Preferences Shares |
INR 100/- each |
INR 390.000 Million |
|
|
Total |
|
INR 550.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13000000 |
Equity Shares |
INR 10/- each |
INR 130.000
Million |
|
3700000 |
Preference Shares |
INR 100/- each |
INR 370.000 Million |
|
|
Total |
|
INR 500.000 Million |
AS ON 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16000000 |
Equity Shares |
INR 10/- each |
INR 160.000 Million |
|
3400000 |
Preferences Shares |
INR 100/- each |
INR 340.000 Million |
|
|
Total |
|
INR 500.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13000000 |
Equity Shares |
INR 10/- each |
INR 130.000
Million |
|
1775000 |
Preference Shares |
INR 100/- each |
INR 177.500 Million |
|
14775000 |
Total |
|
INR 307.500 Million |
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
307.500 |
307.500 |
307.500 |
|
(b) Reserves and Surplus |
149.344 |
139.838 |
130.803 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
(d) Minority interest |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
456.844 |
447.338 |
438.303 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
509.832 |
520.535 |
577.801 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
0.100 |
0.100 |
0.100 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities
(3) |
509.932 |
520.635 |
577.901 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
359.890 |
374.792 |
361.074 |
|
(b) Trade
payables |
121.486 |
231.683 |
214.014 |
|
(c) Other
current liabilities |
77.645 |
61.821 |
186.170 |
|
(d) Short-term
provisions |
6.976 |
9.014 |
11.035 |
|
Total Current
Liabilities (4) |
565.997 |
677.310 |
772.293 |
|
|
|
|
|
|
TOTAL |
1532.773 |
1645.283 |
1788.497 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
641.221 |
691.010 |
754.681 |
|
(ii)
Intangible Assets |
1.119 |
0.727 |
1.104 |
|
(iii) Tangible assets
capital work-in-progress |
0.000 |
0.261 |
10.007 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.010 |
0.010 |
0.010 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
21.574 |
21.726 |
18.222 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
1.587 |
|
Total Non-Current
Assets |
663.924 |
713.734 |
785.611 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
565.218 |
606.562 |
707.446 |
|
(c) Trade
receivables |
233.826 |
206.195 |
196.266 |
|
(d) Cash and
bank balances |
34.255 |
51.593 |
51.285 |
|
(e)
Short-term loans and advances |
35.550 |
67.199 |
47.889 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
868.849 |
931.549 |
1002.886 |
|
|
|
|
|
|
TOTAL |
1532.773 |
1645.283 |
1788.497 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
2774.686 |
3111.812 |
3089.065 |
|
|
Other Income |
5.640 |
20.060 |
23.787 |
|
|
TOTAL |
2780.326 |
3131.872 |
3112.852 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
2137.525 |
2380.148 |
2331.907 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
4.782 |
16.374 |
0.390 |
|
|
Employee benefit expense |
16.258 |
16.073 |
8.261 |
|
|
Expenditure on production, transportation
and Other expenditure pertaining to
exploration and production activities |
23.916 |
0.000 |
0.000 |
|
|
Other expenses |
428.260 |
509.947 |
522.903 |
|
|
TOTAL |
2610.741 |
2922.542 |
2863.461 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
169.585 |
209.330 |
249.391 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
79.919 |
104.875 |
126.841 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
89.666 |
104.455 |
122.550 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
76.670 |
88.863 |
103.618 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
12.996 |
15.592 |
18.932 |
|
|
|
|
|
|
|
Less |
TAX |
3.490 |
6.557 |
8.621 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
9.506 |
9.035 |
10.311 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE BROUGHT
FORWARD |
29.838 |
25.803 |
20.492 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transferred to General Reserve |
5.000 |
5.000 |
5.000 |
|
|
Balance
Carried to the B/S |
34.344 |
29.838 |
25.803 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
NA |
0.000 |
24.846 |
|
|
TOTAL IMPORTS |
NA |
0.000 |
24.846 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
0.64 |
0.61 |
0.70 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
48.915 |
2.055 |
151.459 |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
90.823 |
171.524 |
162.799 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
89.983 |
170.444 |
154.178 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
30.76 |
24.19 |
23.19 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
11.87 |
15.09 |
15.74 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
20.74 |
35.53 |
33.50 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.30 |
0.35 |
0.35 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.26 |
0.30 |
0.33 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.73 |
0.73 |
0.84 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
2.01 |
2.01 |
2.49 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.24 |
1.51 |
1.76 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
1.41 |
1.55 |
1.75 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
2.12 |
2.00 |
1.97 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
0.34 |
0.29 |
0.33 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
0.62 |
0.55 |
0.58 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
2.08 |
2.02 |
2.35 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.54 |
1.38 |
1.30 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.54 |
0.48 |
0.38 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.30 |
0.27 |
0.25 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
2.99 |
2.92 |
3.55 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.54 |
1.38 |
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 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
307.500 |
307.500 |
307.500 |
|
Reserves & Surplus |
130.803 |
139.838 |
149.344 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
438.303 |
447.338 |
456.844 |
|
|
|
|
|
|
Long-term borrowings |
577.801 |
520.535 |
509.832 |
|
Short term borrowings |
361.074 |
374.792 |
359.890 |
|
Current maturities of
long-term debts |
151.459 |
2.055 |
48.915 |
|
Total
borrowings |
1090.334 |
897.382 |
918.637 |
|
Debt/Equity
ratio |
2.488 |
2.006 |
2.011 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
3089.065 |
3111.812 |
2774.686 |
|
|
|
0.736 |
(10.834) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
3089.065 |
3111.812 |
2774.686 |
|
Profit/ (Loss) |
10.311 |
9.035 |
9.506 |
|
|
0.33
% |
0.29
% |
0.34
% |
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 |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
No |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: Registered office of the company has been
shifted from G/1/11, First Floor,
Platinum City, Yeshwanthpur, Bangalore -560022, Karnataka, India to the
present address w.e.f. 26.11.2012
STATE OF COMPANY’S AFFAIRS AND FUTURE
OUTLOOK (AS ON 31.03.2016)
Subject was established in 2003 at Jodidevarahalli in SiraTaluk, Tumkur District, Karnataka. It was the first Integrated Steel Plant built on an area spanning 50 acres. Combining state-of-the-art technologies with deep-rooted knowledge, company has established a formidable reputation since its inception. Leveraging cutting-edge German technology in the manufacturing process, the company's emphasis on excellence of quality is evident in all the products, which include sponge iron, billets, power TMT bars Fly ash bricks & blocks and Ready fix.
UNSECURED LOANS:
(INR
In Million)
|
Particulars |
As
on 31.03.2016 |
As
on 31.03.2015 |
|
LONG TERM
BORROWING |
|
|
|
Loans and advances from related parties |
370.528 |
366.926 |
|
Total |
370.528 |
366.926 |
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
AMOUNT |
ADDRESS |
|
1 |
G43653062 |
100096822 |
HDFC BANK LIMITED |
22/03/2017 |
- |
150000000.0 |
HDFC BANK
HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
2 |
G43653963 |
100096825 |
HDFC BANK LIMITED |
22/03/2017 |
- |
50000000.0 |
HDFC BANK
HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
3 |
C68277722 |
10598906 |
PNB HOUSING
FINANCE LIMITED |
01/10/2015 |
- |
33400000.0 |
HVV PLAZA, # 76, 2ND
FLOOR, B WING, 4TH MAIN,16TH CROSS, MALLESWARAMBANGALOREKA560003IN |
|
4 |
A78396322 |
10199649 |
AXIS BANK LIMITED |
16/01/2010 |
- |
500000.0 |
SME CENTRE, # 41,
SHESHADRI ROAD, ANAND RAO CIRCLEBANGALOREKA560009IN |
|
5 |
A67413922 |
10168355 |
STATE BANK OF
INDIA |
16/06/2009 |
24/06/2009 |
315000000.0 |
INDUSTRIAL FINANCE
BRANCH,WORLD TRADE CENTRE, CUFFE PARADE,MUMBAIMH400005IN |
|
6 |
G54277728 |
80014069 |
STATE BANK OF
INDIA |
23/01/2004 |
22/09/2017 |
470000000.0 |
OVERSEAS BRANCH (6861),
NO. 65,ST. MARK'S ROAD, LHO COMPOUND,BANGALOREKA572137IN |
FIXED ASSETS:
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Computer equipments
- Office equipment
Intangible assets
- Know-how
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 records 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 63.89 |
|
|
1 |
INR 88.60 |
|
Euro |
1 |
INR 78.12 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHL |
|
|
|
|
Analysis Done by
: |
PSD |
|
|
|
|
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.