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|
MIRA INFORM REPORT
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Report No. : |
517042 |
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Report Date : |
26.06.2018 |
IDENTIFICATION DETAILS
|
Name : |
GERDAU STEEL INDIA PRIVATE
LIMITED (w.e.f.11.02.2016) |
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|
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Formerly Known
As : |
GERDAU STEEL INDIA LIMITED (w.e.f.25.02.2013) KALYANI GERDAU STEELS LIMITED (w.e.f.08.10.2008) SJK STEEL PLANT LIMITED (w.e.f.05.02.2004) SJK STEEL CORPORATION LIMITED (w.e.f.22.03.1995) TADIPATRI METAL INDIA LIMITED (w.e.f.20.07.1994) SUJANA METAL INDIA LIMITED |
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Registered
Office : |
Village Jambulapadu, Tadipatri Mandal, Ananthpur – 515411,
Andhra Pradesh |
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Mobile No.: |
91-8096688797 (Mr. Amar Prasad) |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
16.03.1993 |
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CIN No.: [Company Identification
No.] |
U27109AP1993PTC015499 |
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Capital
Investment / Paid-up Capital : |
INR 23740.892 Million |
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|
|
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IEC No.: [Import-Export
Code No.] |
0992000271 |
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|
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GSTN : [Goods & Service Tax
Registration No.] |
37AACCS8629N1ZN |
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PAN No.: [Permanent Account No.] |
AACCS8629N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Bars and Rods,
Hot-Rolled, In Irregularly Wound Coils, of Other Alloy Steel, Pig Iron and
Spiegeleisen in Pigs, Blocks or Other Primary Forms. [Registered Activity] |
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|
|
|
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 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is subsidiary of “Gerdau Holdings Europa SA Y CIA S.R.C.-Spain and was incorporated in the year 1993. The company has strong financial base and healthy capital structure along with average debt balance sheet. Rating takes into consideration strong managerial and financial support received to the company from its holding entity. Further, the company also derives strength from its improving revenue profile as compared to previous year. However, rating strength is partially offset due to continuously losses incurred by the company which has reported negative reserves position. Trade relations are reported as fair. Business is active. Payments are slow but correct. The company can be considered for business dealings at
usual trade terms and condition. |
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 (31.12.2017) |
Current Rating (01.04.2018) |
|
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
31-03-2018.
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 26.06.2018
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. Amar Prasad |
|
Designation : |
Purchase Department |
|
Contact No.: |
91-8096688797 |
|
Date : |
26.06.2018 |
TEL
NO.:91-8558-306168 – RINGING
LOCATIONS
|
Registered Office / Factory: |
Village Jambulapadu, Tadipatri Mandal, Ananthpur – 515411,
Andhra Pradesh, India |
|
Tel. No.: |
91-8558-306168 |
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Mobile No.: |
91-8096688797 (Mr. Amar Prasad) |
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Fax No.: |
91-8558-306111 |
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E-Mail : |
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Website : |
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Head / Corporate Office : |
304/305, World Trade Centre, 26/1, Dr. Rajkumar Road, Malleswaram
(West), Bangalore – 560055, Karnataka, India |
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Tel. No.: |
91-80-30262205/ 30262206/ 2263/ 30262240 |
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Fax No.: |
91-80-30262241 |
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E-Mail : |
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Regional Office 1 : |
Office No. 402, 4th Floor, Lunkad Sky Max, Plot No. 94, Viman Nagar Lohegaon, Pune – 411014, Maharashtra, India |
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Regional Office 2 : |
Plot No. 3 B, Sector-4 , Ballabhgarh, Faridabad - 121004, Haryana, India |
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Regional Office 3 : |
No. 234/1C, Nageshwara Rao Road, Athipet, Chennai – 600058, Tamilnadu, India |
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Warehouse : |
“Kusumkunj” Gat No. 743, Village
Kunjirwadi, Taluka Haveli, District Pune, Maharashtra, India |
DIRECTORS
AS ON 31.03.2018
|
Name : |
Mr. Sridhar Krishnamoorthy |
||||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||||
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Address : |
Flat No.802, Residency Apartments, (New 62) Old 5C/23, Sardar Patel
Road, Guindy, Chennai – 600113, Tamilnadu, India |
||||||||||||||||||||
|
Date of Birth/Age : |
07.10.1961 |
||||||||||||||||||||
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Qualification : |
B
E, M E, MBA |
||||||||||||||||||||
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Date of Appointment : |
18.11.2013 |
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PAN No.: |
BRBPK8793D |
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DIN No.: |
06738209 |
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Other Directorship:
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Name : |
Mr. Yalamanchili Janardhana Rao |
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Designation : |
Director |
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Address : |
Plot No. 299, MLA and MPS Colony, Road No. 10 C, Jubilee Hills,
Hyderabad – 500033, Telangana, India |
||||||||||||||||||||
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Date of Birth/Age : |
09.01.1932 |
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Qualification : |
Graduate |
||||||||||||||||||||
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Date of Appointment : |
29.09.2001 |
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PAN No.: |
AAIPY5616N |
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DIN No.: |
00099891 |
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Other Directorship:
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||||||||||||||||||||
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Name : |
Mr. Yalamanchili Jithin Kumar
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||||||||||||||||||||
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Designation : |
Director |
||||||||||||||||||||
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Address : |
Plot No. 320, New MLA and MPS Colony, Road No. 10 C, Jubilee Hills,
Hyderabad – 500033, Telangana, India |
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Date of Birth/Age : |
09.06.1955 |
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Qualification : |
Graduate |
||||||||||||||||||||
|
Date of Appointment : |
30.06.1994 |
||||||||||||||||||||
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PAN No.: |
AAIPY5615R |
||||||||||||||||||||
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DIN No.: |
00099750 |
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Other Directorship:
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|||||||||||||||||||||
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|
||||||||||||||||||||
|
Name : |
Mr. Jose Fernando Vedana |
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Designation : |
Director |
||||||||||||||||||||
|
Address : |
Apartment 82, Tower 6, Pebble Bay Dollars, Colony RMV, 2nd
Stage, Bangalore – 560094, Karnataka, India |
||||||||||||||||||||
|
Date of Birth/Age : |
12.11.1964 |
||||||||||||||||||||
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Qualification : |
MBA |
||||||||||||||||||||
|
Date of Appointment : |
28.10.2014 |
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PAN No.: |
AVWPV4035H |
||||||||||||||||||||
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DIN No.: |
07003017 |
||||||||||||||||||||
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|
||||||||||||||||||||
|
Name : |
Mr. Ramaswamy Visweswaran |
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Designation : |
Whole Time Director |
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|
Address : |
No. B801, Shriramsristi Apartment, 51/52 SSA Road, Anand Nagar, R T
Nagar, Bangalore – 560032, Karnataka, India |
||||||||||||||||||||
|
Date of Birth/Age : |
06.06.1962 |
||||||||||||||||||||
|
Qualification : |
B
E |
||||||||||||||||||||
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Date of Appointment : |
30.09.2015 |
||||||||||||||||||||
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PAN No.: |
AADPV3659D |
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DIN No.: |
07268366 |
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KEY EXECUTIVES
|
Name : |
Mr. Sham Krishna |
|
Designation : |
Chief Financial Officer |
|
Address : |
B2 903, Elita Promenade, J P Nagar, 7th Phase,
Bangalore560078, Karnataka, India |
|
Date of Birth/Age : |
18.01.1970 |
|
Qualification : |
CA |
|
Date of Appointment : |
03.06.2014 |
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PAN No.: |
AARPB5963A |
|
|
|
|
Name : |
Mr. Satyanarayan Mohanty |
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Designation : |
Company Secretary |
|
Address : |
Flat No. 110, CASA Serene, 8-SM Road Jallahali Cross,
Bangalore-560015, Karnataka, India |
|
Date of Appointment : |
25.08.2016 |
|
PAN No.: |
ATOPM7349H |
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|
|
|
Name : |
Mr. Amar Prasad |
|
Designation : |
Purchase Department |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Equity Shareholders |
No. of Shares |
|
Yalamanchili Jithin Kumar |
35200 |
|
Yalamanchili Jithin Kumar (HUF) |
3481406 |
|
Yalamanchili Uma Rani |
598170 |
|
Optrex Finexim Private Limited, India |
1512880 |
|
Yalamanchili Janardhana Rao |
402 |
|
Yalamanchili Susheela Kumari |
802 |
|
S.K. Gupta |
1200 |
|
Mala Gupta |
1200 |
|
Monika Bose |
59440 |
|
Paramount Sinters Private Limited, India |
32000 |
|
Power Max India Private Limited, India |
99200 |
|
Stressed Assets Stabilisation Fund |
20000000 |
|
Punjab National Bank |
340000 |
|
Gerdau Holdings Europa S A Y
CIA, SRC |
2347927245 |
|
Sridhar Krishnamoorthy |
5 |
|
Total |
2374089150 |
|
Names of Preference Shareholders |
No. of Shares |
|
Yalamanchili Jithin Kumar (HUF) |
10989394 |
|
Yalamanchili Uma Rani |
1869285 |
|
Optrex Finexim Private Limited, India |
4727750 |
|
Yalamanchili Janardhana Rao |
1255 |
|
Yalamanchili Susheela Kumari |
2505 |
|
S.K. Gupta |
3750 |
|
Mala Gupta |
3750 |
|
Monika Bose |
185750 |
|
Paramount Sinters Private Limited, India |
100000 |
|
Power Max India Private Limited, India |
310000 |
|
|
|
|
Total |
18193439 |
Equity Share Break up (Percentage of Total Equity)
AS ON 27.09.2017
|
Category |
Percentage |
|
Promoters- Body corporate |
98.90 |
|
Public/Other than promoters- Individual/Hindu Undivided Family- Indian |
0.18 |
|
Public/Other than promoters - Banks |
0.01 |
|
Public/Other than promoters - Body corporate |
0.07 |
|
Public/Other than promoters- Others |
0.84 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business
: |
Manufacturer of Bars and Rods,
Hot-Rolled, In Irregularly Wound Coils, of Other Alloy Steel, Pig Iron and
Spiegeleisen in Pigs, Blocks or Other Primary Forms. [Registered Activity] |
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Products / Services
: |
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||||||||
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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||||||||
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Exports : |
Not Divulged |
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|
||||||||
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Imports : |
Not Divulged |
||||||||
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|
||||||||
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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|
||||||||||||||||||||||||
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No. of Employees : |
Information denied by the management |
||||||||||||||||||||||||
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|
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Bankers : |
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|
||||||||||||||||||||||||
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Facilities : |
(INR
In Million)
|
|
Auditors : |
|
|
Name : |
Ananth Shravan and Company Chartered Accountants |
|
Address : |
335/88, 12th
Main, Next to 6th Block,
Bus Stop, Dr. Rajkumar Road, Rajajinagar, Bangalore - 560010, Karnataka,
India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAWFA9191N |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding company: |
|
|
|
|
|
Enterprises which are owned, or have significant influence of
or are partners with Key management personnel and their relatives: |
|
CAPITAL STRUCTURE
AS ON 27.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2900000000 |
Equity Shares |
INR 10/- each |
INR 29000.000 Million |
|
100000000 |
Preference Shares |
INR 10/- each |
INR 1000.000 Million |
|
|
Total |
|
INR 30000.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2374089150 |
Equity Shares |
INR 10/- each |
INR
23740.892 Million |
|
18193439 |
Preference Shares |
INR 10/- each |
INR 181.934
Million |
|
|
Total |
|
INR 23922.826 Million |
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2900000000 |
Equity Shares |
INR 10/- each |
INR 29000.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2374089200 |
Equity Shares |
INR 10/- each |
INR
23740.892 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
23740.892 |
23740.892 |
23922.826 |
|
(b) Reserves &
Surplus |
(15291.448) |
(14629.881) |
(13843.481) |
|
(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) |
8449.444 |
9111.011 |
10079.345 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
6031.086 |
7697.158 |
7585.502 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
53.190 |
40.818 |
36.473 |
|
Total Non-current
Liabilities (3) |
6084.276 |
7737.976 |
7621.975 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
3209.149 |
2342.195 |
1592.293 |
|
(b) Trade payables |
1477.299 |
1171.476 |
1834.659 |
|
(c) Other current
liabilities |
1758.940 |
448.282 |
877.860 |
|
(d) Short-term provisions |
95.460 |
93.649 |
93.431 |
|
Total Current Liabilities
(4) |
6540.848 |
4055.602 |
4398.243 |
|
|
|
|
|
|
TOTAL |
21074.568 |
20904.589 |
22099.563 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
14799.778 |
15470.526 |
11195.241 |
|
(ii) Intangible Assets |
24.632 |
33.066 |
28.100 |
|
(iii) Capital
work-in-progress |
659.855 |
623.369 |
4181.942 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
84.947 |
84.947 |
84.947 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
1246.992 |
|
(e) Other Non-current
assets |
444.266 |
933.611 |
37.005 |
|
Total Non-Current Assets |
16013.478 |
17145.519 |
16774.227 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
3335.184 |
2521.108 |
2907.218 |
|
(c) Trade receivables |
1246.183 |
889.891 |
1096.160 |
|
(d) Cash and cash
equivalents |
29.895 |
106.505 |
166.225 |
|
(e) Short-term loans and
advances |
0.000 |
0.000 |
1135.348 |
|
(f) Other current assets |
449.828 |
241.566 |
20.385 |
|
Total Current Assets |
5061.090 |
3759.070 |
5325.336 |
|
|
|
|
|
|
TOTAL |
21074.568 |
20904.589 |
22099.563 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
10460.074 |
10108.239 |
8439.429 |
|
|
Other Income |
91.765 |
128.754 |
122.943 |
|
|
TOTAL |
10551.839 |
10236.993 |
8562.372 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
5486.783 |
4937.744 |
6048.345 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(382.050) |
403.993 |
15.203 |
|
|
Employees benefits expense |
533.559 |
562.735 |
585.413 |
|
|
Other expenses |
3619.592 |
3491.392 |
2610.782 |
|
|
Prior
Period Items |
0.000 |
0.000 |
1.679 |
|
|
Exceptional
Items |
0.000 |
0.000 |
67.264 |
|
|
TOTAL |
9257.884 |
9395.864 |
9328.686 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
1293.955 |
841.129 |
(766.314) |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
1014.916 |
955.047 |
809.483 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION |
279.039 |
(113.918) |
(1575.797) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
934.780 |
826.218 |
657.479 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
(655.741) |
(940.136) |
(2233.276) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
(655.741) |
(940.136) |
(2233.276) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(0.28) |
(0.40) |
(1.08) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
1611.755 |
53.643 |
45.322 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operating activities |
339.647 |
1324.132 |
(2496.572) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
43.49 |
32.13 |
47.41 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
8.39 |
11.36 |
7.70 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
98.28 |
86.60 |
110.72 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.39 |
0.33 |
(0.26) |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.08 |
0.05 |
(0.05) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.67 |
0.56 |
0.54 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.28 |
1.11 |
0.92 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.77 |
0.45 |
0.44 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
1.83 |
1.77 |
1.53 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.27 |
0.88 |
(0.95) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
(6.27) |
(9.30) |
(26.46) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(3.11) |
(4.50) |
(10.11) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(7.76) |
(10.32) |
(22.16) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.77 |
0.93 |
1.21 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.26 |
0.31 |
0.55 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.40 |
0.44 |
0.46 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.46 |
0.43 |
0.39 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.77 |
0.93 |
1.21 |
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 |
23922.826 |
23740.892 |
23740.892 |
|
Reserves & Surplus |
(13843.481) |
(14629.881) |
(15291.448) |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
10079.345 |
9111.011 |
8449.444 |
|
|
|
|
|
|
Long Term borrowings |
7585.502 |
7697.158 |
6031.086 |
|
Short Term borrowings |
1592.293 |
2342.195 |
3209.149 |
|
Current Maturities of Long term debt |
45.322 |
53.643 |
1611.755 |
|
Total
borrowings |
9223.117 |
10092.996 |
10851.990 |
|
Debt/Equity
ratio |
0.915 |
1.108 |
1.284 |
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
|
8439.429 |
10108.239 |
10460.074 |
|
|
|
19.774 |
3.481 |
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
|
8439.429 |
10108.239 |
10460.074 |
|
Profit |
(2233.276) |
(940.136) |
(655.741) |
|
|
(26.46%) |
(9.30%) |
(6.27%) |
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 |
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 |
CHANGE OF ADDRESS:
The Registered Office of the company has been shifted from Plot No-75,
MLAS and MPS Colony, Road No-10C, Jubilee Hills, Hyderabad-500033, Andhra
Pradesh, India to the present address w.e.f 28.06.2013.
OPERATIONS - STATEMENT OF COMPANY AFFAIRS:
The Company during
the year achieved a sales volume of 2,13,574 tons of Bars as compared to
1,96,500 tons in previous year. With the increased production and sales,the
company was able to improve the market share During the year the company added
new customers like Exedy India, Somic ZF, SonaKoya, Rolex Rings, Rane (Madras),
Dhar Automotive, Deccan Fasteners and GNA Gears to name few. Along with that,
the company also developed different grades specific to customer requirements.
The company will continue the process of getting new customer approvals and
also develop grades to specific customer requirements for both existing and new
customers.
In the previous
financial years the company had planned to install PCI (Pulverized Coal
Injection) plant and VPSA (Vacuum Pressure Swing Absorption) plant which will
help to reduce the cost of production and during the year the Company made
substantial progress in setting up both the plants. During the year VPSA
(Vacuum Pressure Swing Absorption) plant was commissioned and PCI (Pulverized
Coal Injection) plant was in final stage of completion.
The performance of
the company improved substantially compared to the previous financial year and
the loss for the financial year reduced by 30% to INR 655.741 Million compared
to previous financial year. The generation of positive operating cash flow was
INR 339.646 Million compare to the previous year's positive operating cash flow
of INR 1642.746 Million. With the current improving performance and supported
by the market trend the Company is expected to generate positive cash flow in
the coming years.
UNSECURED LOANS:
(INR
In Million)
|
Particulars |
As
on 31.03.2017 |
As
on 31.03.2016 |
|
LONG TERM
BORROWING |
|
|
|
Redeemable preference shares |
80.718 |
73.748 |
|
Loans and advances from directors |
104.708 |
95.667 |
|
Total |
185.426 |
169.415 |
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
11 |
G16091977 |
10153308 |
AXIS BANK LIMITED |
25/02/2009 |
- |
13/10/2016 |
349350000.0 |
1262/B,STERLING
PLAZA,JANGLI MAHARAJ ROADDECCAN GYMKHANNAPUNEMH411004IN |
|
12 |
C17949892 |
90138418 |
EXPORT-IMPORT BANK
OF INDIA |
27/03/2003 |
29/03/2004 |
14/08/2014 |
124000000.0 |
CENTRE ONE
BUILDINGFLOOR 21; WORLD TRADE CENTRE; CUFFE PARADEMUMBAIMH400005IN |
|
13 |
C17929753 |
10351677 |
EXPORT-IMPORT BANK
OF INDIA |
27/03/2012 |
- |
14/08/2014 |
28923190.0 |
CENTER ONE BUILDING,
FLOOR 21WTC COMPLEX CUFFE PARADEMUMBAIMH400005IN |
|
14 |
C17953530 |
10255644 |
EXPORT-IMPORT BANK
OF INDIA |
26/11/2010 |
- |
14/08/2014 |
328880000.0 |
CENTER ONE
BUILDING, FLOOR 21WTC COMPLEX CUFFE PARADEMUMBAIMH400005IN |
|
15 |
C17958125 |
90138007 |
EXPORT-IMPORT BANK
OF INDIA |
07/11/1997 |
19/12/1997 |
14/08/2014 |
150000000.0 |
CENTRE ONEWORLD
TRADE CENTRE; CUFFE PARADEMUMBAIMH400005IN |
|
16 |
B94897048 |
10352339 |
INTERNATIONAL
FINANCE CORPORATION |
27/03/2012 |
- |
15/01/2014 |
1120500000.0 |
2121 PENNSYLVANIA
AVENUE, NWWASHINGTON, DC 20433 USAWASHINGTONNA20433US |
|
17 |
B93439313 |
10254408 |
GENERAL INSURANCE
CORPORATION OF INDIA |
26/11/2010 |
- |
12/12/2013 |
70683000.0 |
"SURAKSHA",
170, J. TATA ROAD,CHURCHGATE,MUMBAIMH400020IN |
|
18 |
B93439784 |
90136885 |
GENERAL INSURANCE
CORPORATION OF INDIA |
29/03/2004 |
- |
12/12/2013 |
10000000.0 |
SURAKSHA170; J.
TATA ROADMUMBAIMH400020IN |
|
19 |
B92973759 |
90137822 |
GENERAL INSURANCE
CORPORATION OF INDIA |
12/01/1996 |
24/03/1997 |
04/12/2013 |
50000000.0 |
SURAKSHA170; J.
TATA ROAD; CHURCHGATEMUMBAIMH400021IN |
|
20 |
B92976372 |
10353517 |
GENERAL INSURANCE
CORPORATION OF INDIA |
27/03/2012 |
- |
04/12/2013 |
4310290.0 |
"SURAKSHA",
170, J. TATA ROAD,CHURCHGATE,MUMBAIMH400020IN |
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
|
|
|
|
Claims against company not acknowledged as debt |
44.698 |
44.698 |
|
Other money for which company is contingently liable |
217.865 |
283.826 |
FIXED ASSETS:
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
Intangible
assets
- Computer software
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 68.15 |
|
|
1 |
INR 90.27 |
|
Euro |
1 |
INR 79.35 |
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.