|
|
|
MIRA INFORM REPORT
|
Report No. : |
516742 |
|
Report Date : |
26.06.2018 |
IDENTIFICATION DETAILS
|
Name : |
OSWAL MINERALS LIMITED |
|
|
|
|
Registered
Office : |
No. 8/11, Police Station
Road, Pallavaram, Chennai – 600043, Tamilnadu, India |
|
Tel. No.: |
91-80-23090049 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2018 |
|
|
|
|
Date of
Incorporation : |
04.07.1996 |
|
|
|
|
CIN No.: [Company Identification No.] |
L30006TN1996PLC035973 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 75.504 Million |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0404013970 |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCM6499G |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Subject is
engaged in the business of "import, export, sale, trade of all kinds of
ferro alloys ferrous and non - ferrous metals, nitrogen bearing ferro alloys
etc". [Registered
Activity] |
|
|
|
|
No. of Employees
(As on 31.03.2017) |
110 (Approximately) |
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 |
|
|
|
|
Litigation : |
Exists |
|
|
|
|
Comments : |
Subject was incorporated in the year 1996. It is a manufacturer, trader, exporter and seller of all kinds of Ferro alloys, ferrous and Non-Ferrous materials. For the financial year 2018, the revenue of the company has increased by 23.12% but has reported low profit margin of 0.45%. The satisfactory financial profile of the company is marked by sufficient networth base. However, rating is constrained on account of poor debt coverage indicators due to high debt balance sheet profile and highly competitive steel industry. Business is active. Payment seems to be slow. In view of aforesaid, the company can be considered for business dealings with some caution. Note: The subject is currently not listed on BSE and has not traded on NSE since last 30 days. |
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
|
Rating Agency Name |
ICRA |
|
Rating |
Long term fund Based Facilities (BB+) |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
05.06.2018 |
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. Dilip |
|
Designation : |
Accountant |
|
Contact No.: |
91-9448992102 |
|
Date: |
23.06.2018 |
91-80-23090000 (Number is not Working)
(Mr. Bharat Jain – Mobile No.91-9448053545)
LOCATIONS
|
Registered Office : |
No. 8/11, Police
Station Road, Pallavaram, Chennai – 600043, Tamilnadu, India |
|
Tel. No.: |
Not
Available |
|
Mobile No.: |
91-9448992102 (Mr. Dilip) |
|
Fax No.: |
Not
Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office/ Warehouse : |
“Oswal’s”, No.1034, 2nd Floor, 1st Main Road, Dr. Rajkumar Road, 4th Block, Rajajinagar, Bangalore ‐ 560010, Karnataka, India |
|
Tel. No.: |
91‐80‐23090000 |
|
Fax No.: |
91‐80‐23123114/
23090022 |
|
|
|
|
Depots and Branch Offices : |
|
DIRECTORS
AS ON 31.03.2018
|
Name : |
Ms. Sapna Jain |
|
Designation : |
Director |
|
Address : |
No.1033, 1st Main Road, Dr. Rajkumar Road, 4th Block, Opposite
Planet Honda Service Center, Rajajinagar, Bangalore-560010, Karnataka, India |
|
Date of Appointment : |
07.05.2004 |
|
DIN No.: |
00436890 |
|
|
|
|
Name : |
Ms. Seema Jain |
|
Designation : |
Additional Director |
|
Address : |
No.1033, 1st Main Road, Dr. Rajkumar Road, 4th Block,
Opposite Planet Honda Service Center, Rajajinagar, Bangalore-560010, Karnataka,
India |
|
Date of Birth/Age : |
15.12.1979 |
|
Qualification : |
B.Com graduate |
|
Expertise in specific functional area : |
The Company derives a lot of benefit from her diverse professional expertise and experience in Operations & procurement as well as at Board Level of the Company |
|
Date of Appointment : |
30.01.2017 |
|
DIN No.: |
00437290 |
|
|
|
|
Name : |
Mr. Sripal Kumar Mohanlal |
|
Designation : |
Managing Director |
|
Address : |
No.1033, 1st Main Road, Dr. Rajkumar Road, 4th Block,
Opposite Planet Honda Service Center, Rajajinagar, Bangalore-560010, Karnataka,
India |
|
Date of Birth/Age : |
01.07.1965 |
|
Expertise in specific functional area : |
Sri Sripal Kumar Mohanlal, founder and Managing Director of the Company, has working experience of more than 35 years and is actively involved in day to day working of the Company. |
|
Date of Appointment : |
06.02.2004 |
|
DIN No.: |
01000236 |
|
|
|
|
Name : |
Mr. Subhashchand Mohanlal |
|
Designation : |
Director |
|
Address : |
No.1033, 1st Main Road, Dr. Rajkumar Road, 4th Block,
Opposite Planet Honda Service Center, Rajajinagar, Bangalore-560010, Karnataka,
India |
|
Date of Birth/Age : |
23.01.1976 |
|
Qualification : |
B.
Com |
|
Expertise in specific functional area : |
Mr. Subhashchand Mohanlal
is having business experience of more than a decade in the field of Finance
and Accounts |
|
Date of Appointment : |
01.04.2013 |
|
DIN No.: |
01088346 |
|
|
|
|
Name : |
Mr. Mohanlal Bharath Kumar Jain |
|
Designation : |
Wholetime Director |
|
Address : |
No.1033, 1st Main Road, Dr. Rajkumar Road, 4th Block, Opposite
Planet Honda Service Center, Rajajinagar, Bangalore-560010, Karnataka, India |
|
Date of Appointment : |
27.02.2010 |
|
Date of Birth/Age : |
07.04.1980 |
|
Qualification : |
B.E (Chemical Engineer) |
|
Expertise in specific functional area : |
Sri. Mohanlal Bharath Kumar Jain is the Company derives a lot of benefit from his diverse professional expertise and experience in Operations & procurement as well as at Board Level of the Company |
|
DIN No.: |
01252633 |
|
|
|
|
Name : |
Ms. Saritha Devi |
|
Designation : |
Director |
|
Address : |
No.1033, 1st Main Road, Dr. Rajkumar Road, 4th Block,
Opposite Planet Honda Service Center, Rajajinagar, Bangalore-560010, Karnataka,
India |
|
Date of Appointment : |
01.07.2012 |
|
DIN No.: |
01261180 |
|
|
|
|
Name : |
Mr. Bhagchand Ghisulal Jain |
|
Designation : |
Director |
|
Address : |
835/40, 15th Main, 3rd Block, Rajajinagar,
Bangalore-560010, Karnataka, India |
|
Date of Appointment : |
30.06.2014 |
|
DIN No.: |
06894213 |
|
|
|
|
Name : |
Mr. Dinesh Kumar |
|
Designation : |
Director |
|
Address : |
61/1, New No.14, Shanti Nivas, 5th Cross, 7th Main,
Srirampuram, Bangalore- 560021, Karnataka, India |
|
Date of Appointment : |
21.07.2014 |
|
DIN No.: |
06925996 |
|
|
|
|
Name : |
Mr. Manish Kumar Jain |
|
Designation : |
Additional Director |
|
Address : |
73/1, 9th Main, Srirampuram, Bangalore-560021, Karnataka,
India |
|
Date of Appointment : |
24.05.2017 |
|
Date of Birth/Age : |
02.03.1989 |
|
Qualification : |
Bachelor in Business Management. |
|
Expertise in specific functional area : |
He Runs Business of Scrap Paper Supply to various Industries. |
|
DIN No.: |
07813662 |
KEY EXECUTIVES
|
Name : |
Mr. Subhashchand Mohanlal |
|
Designation : |
Chief Financial Officer (KMP) |
|
Address : |
No.1033, 1st Main Road, Dr. Rajkumar Road, 4th Block,
Opposite Planet Honda Service Center, Rajajinagar, Bangalore-560010, Karnataka,
India |
|
Date of Appointment : |
05.09.2014 |
|
PAN No.: |
ACVPJ3358B |
|
|
|
|
Name : |
Mr. Milan Maroti |
|
Designation : |
Company Secretary |
|
Address : |
3/01, Wilson Garden, Bangalore-560027, Karnataka, India |
|
Date of Appointment : |
14.04.2017 |
|
PAN No.: |
BBUPM0152M |
|
Membership No: |
A49355 |
|
|
|
|
Name : |
Mr. Dilip |
|
Designation : |
Accountant |
|
|
|
|
Audit Committee: |
|
|
Name : |
|
|
|
|
|
Stakeholders
Relationship Committee: |
|
|
Name : |
|
|
|
|
|
Nomination and
Remuneration Committee: |
|
|
|
|
|
Corporate Social
Responsibility Committee: |
|
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: MARCH 2018
|
Category of Shareholders |
No. of Shares |
Percentage of Holding |
|
Promoter & Promoter Group |
5556992 |
73.60 |
|
Public |
1993408 |
26.40 |
|
Grand Total |
7550400 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is
engaged in the business of "import, export, sale, trade of all kinds of ferro
alloys ferrous and non - ferrous metals, nitrogen bearing ferro alloys
etc". [Registered
Activity] |
||||||||||
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Products : |
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||||||||||
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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|
||||||||||
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Imports : |
Not Divulged |
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|
||||||||||
|
Terms : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
|
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|
Customers : |
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||||||||||||||||||||||||
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|
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|
No. of Employees
(As on 31.03.2017): |
110 (Approximately) |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers (As on 31.03.2017): |
· RBL Bank Limited · Citi Bank N.A. · UCO Bank · ICICI Bank Limited · Axis Bank Limited · State Bank of India · HDFC Bank Limited |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
Nature of Security (a) Loan from Citi
Bank - CC: A. First pari passu charge on stock and book debts of the company; B. First pari passu charge by way of equitable mortgage on commercial property situated at # 6, 2nd Main Road, Ramachandrapuram, Bangalore - 560020; C. First pari passu charge by way of equitable mortgage on commercial property situated at # 110, Basaveshwar Nagar, 2nd stage extension, Bangalore; D. Personal guarantee of a directors; E. Demand Promissory Note. (b) Loan from RBL bank - CC & Buyer's Credit: A. First pari passu charge on stock and book debts and other current assets of the company both present and future; B. First pari passu charge on entire movable fixed assets of the company both present and future; C. Exclusive Equitable Mortgage on residential property located at # 1031/A, Dr. Rajkumar Road, 1st Main Road, Rajajinagar, Bagalore - 560010; D. Exclusive Lien over Fixed deposits; D. Irrevocable Personal guarantee of a directors. |
|
Auditors 1 (As on 31.03.2017): |
|
|
Name : |
N.N.
Yuvaraj and Associates Chartered Accountants |
|
Address : |
“Vision Point” #23, 3rd
Floor, Park Road, Off‐Queens Road, Bangalore –
560051, Karnataka, India |
|
Tel. No.: |
91-80-22869792/ 22862672 |
|
Fax No.: |
91-80-42109272 |
|
E-Mail : |
|
|
|
|
|
Auditors 2: |
|
|
Name : |
V. Patliya and Company Chartered Accountants |
|
Address : |
97/17, 2nd Floor, 1st main Road, Sheshdripuram,
Bangalore – 560020, Karnataka, India |
|
Mob. No.: |
91-8792120201 |
|
E-Mail : |
|
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Companies/ Firm in which KMP and their relatives are directors or members
or Partners (As on 31.03.2017): |
·
Oswal Alloys Private Limited · Oswal Smelters Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2018
Authorised Capital : Not Available
Subscribed & Paid-up Capital : INR 75.504 Million
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8500000 |
Equity Shares |
INR 10/- each |
INR 85.000 Million |
|
|
|
|
|
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7750000 |
Equity Shares |
INR 10/- each |
INR 77.500 Million |
|
|
Total |
|
INR 77.500
Million |
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7750000 |
Equity Shares |
INR 10/- each |
INR 77.500 Million |
|
|
Less:
Calls in arrears |
|
INR 1.382 Million |
|
199600 |
Less: Shares forfeited during the year due to non - payment of calls |
|
INR 0.614 Million |
|
|
Total |
|
INR 75.504
Million |
Reconciliation
of the number of shares outstanding at the beginning and at the end of the reporting
period :
|
Particulars |
As at 31 March, 2017 |
|
|
|
Number
of Shares |
Amount |
|
Shares
outstanding at the beginning of the year |
7750000 |
77.500 |
|
Shares
issued during the period |
Nil |
Nil |
|
Shares
bought back during the year |
Nil |
Nil |
|
Any
other movement (Calls in arrears) |
Nil |
1.382 |
|
Any other movement (Shares forfeited during the year due to non - payment of calls) |
199600 |
0.614 |
|
Shares outstanding at the end of the period |
7550400 |
75.504 |
Rights,
preferences and restrictions attaching to equity shares
1. The Company has one
class of equity shares having a par value of INR 10/- each.
2. Each shareholder is
eligible for one vote per share held.
3. The dividend proposed by
the Board of Director is subject to the approval of the shareholders in the
ensuing Annual General Meeting, except in case of interim dividend.
4. In the event of
liquidation, the equity shareholders are eligible to receive the remaining
assets of the company after distribution of all preferential creditors, in
proportion to their shareholding.
Details
of shares held by each shareholder holding more than 5% shares
|
Class
of Shares / Name of Shareholder |
As at 31 March, 2017 |
|
|
|
Number
of Shares held |
%
of holding in that
class of shares |
|
Equity
Shares with voting rights : |
|
|
|
Hirachand
Mohanlal |
999400 |
13.24 |
|
Mohanlal
Subhash Jain |
1582800 |
20.96 |
|
Sripal
Kumar Jain |
988960 |
13.10 |
|
Info
Highway Consultants Private Limited |
601500 |
7.97 |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
75.504 |
75.504 |
76.118 |
|
(b) Reserves & Surplus |
160.993 |
115.597 |
70.602 |
|
(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) |
236.497 |
191.101 |
146.720 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1700.000 |
1815.591 |
1232.022 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
1700.000 |
1815.591 |
1232.022 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
830.802 |
394.350 |
273.620 |
|
(b) Trade
payables |
1382.055 |
176.115 |
448.054 |
|
(c) Other
current liabilities |
63.224 |
31.228 |
28.213 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
2276.081 |
601.693 |
749.887 |
|
|
|
|
|
|
TOTAL |
4212.578 |
2608.385 |
2128.629 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
7.720 |
7.299 |
9.147 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
1.758 |
1.501 |
1.196 |
|
(d) Long-term Loan and Advances |
0.000 |
17.025 |
16.721 |
|
(e) Other
Non-current assets |
18.463 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
27.941 |
25.825 |
27.064 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1336.205 |
585.387 |
536.831 |
|
(c) Trade
receivables |
2092.120 |
1565.764 |
1525.054 |
|
(d) Cash
and cash equivalents |
138.641 |
(71.846) |
(82.060) |
|
(e)
Short-term loans and advances |
0.000 |
503.255 |
121.740 |
|
(f) Other
current assets |
617.671 |
0.000 |
0.000 |
|
Total
Current Assets |
4184.637 |
2582.560 |
2101.565 |
|
|
|
|
|
|
TOTAL |
4212.578 |
2608.385 |
2128.629 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
10203.163 |
8287.094 |
6543.938 |
|
|
Other Income |
18.733 |
7.627 |
8.671 |
|
|
TOTAL
|
10221.896 |
8294.721 |
6552.609 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of Stock-in-Trade |
10028.302 |
7250.948 |
5848.749 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(750.818) |
(48.556) |
(126.557) |
|
|
Employees benefits expense |
47.381 |
36.011 |
30.973 |
|
|
Other expenses |
737.084 |
908.089 |
765.066 |
|
|
TOTAL |
10061.949 |
8146.492 |
6518.231 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
159.947 |
148.229 |
34.378 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
106.446 |
100.681 |
114.640 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
53.501 |
47.548 |
(80.262) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
3.493 |
3.472 |
3.558 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
50.008 |
44.076 |
(83.820) |
|
|
|
|
|
|
|
Less |
TAX |
4.053 |
(0.305) |
(0.351) |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
45.955 |
44.381 |
(83.469) |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
72.481 |
28.100 |
113.066 |
|
|
|
|
|
|
|
Less |
Short
income tax provision made last year |
NA |
0.000 |
(1.497) |
|
|
|
|
|
|
|
Less
|
Adjustment relating to fixed assets |
NA |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
NA |
72.481 |
28.100 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
Export of
goods calculated on FOB basis |
NA |
831.804 |
767.349 |
|
|
TOTAL
EARNINGS |
NA |
831.804 |
767.349 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Finished
goods |
NA |
3473.885 |
2442.224 |
|
|
TOTAL
IMPORTS |
NA |
3473.885 |
2442.224 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
6.09 |
5.87 |
(10.98) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
120.715 |
138.336 |
|
Net Cash flows from operating activities |
NA |
110.657 |
134.886 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
74.84 |
68.96 |
85.06 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
4.88 |
5.29 |
4.29 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
50.30 |
8.87 |
27.96 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.12 |
0.25 |
0.06 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
20.72 |
20.31 |
3.76 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets) |
0.94 |
0.93 |
0.93 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
10.70 |
11.56 |
10.26 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
9.62 |
3.15 |
5.11 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.03 |
0.04 |
0.06 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.50 |
1.47 |
0.30 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Net Profit Margin (PAT / Sales) * 100) |
% |
0.45 |
0.54 |
(1.28) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
1.09 |
1.70 |
(3.92) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
19.43 |
23.22 |
(56.89) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.84 |
4.29 |
2.80 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current Liabilities) |
1.25 |
3.32 |
2.09 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.06 |
0.07 |
0.07 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
33.52 |
29.27 |
19.78 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.84 |
4.29 |
2.80 |
Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2016 |
31.03.2017 |
31.03.2018 |
|
|
INR
In Million |
INR In
Million |
INR
In Million |
|
Share Capital |
76.118 |
75.504 |
75.504 |
|
Reserves & Surplus |
70.602 |
115.597 |
160.993 |
|
Net worth |
146.720 |
191.101 |
236.497 |
|
|
|
|
|
|
Long-term borrowings |
1232.022 |
1815.591 |
1700.000 |
|
Short term borrowings |
273.620 |
394.350 |
830.802 |
|
Total borrowings |
1505.642 |
2209.941 |
2530.802 |
|
Debt/Equity ratio |
10.262 |
11.564 |
10.701 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2016 |
31.03.2017 |
31.03.2018 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
6543.938 |
8287.094 |
10203.163 |
|
|
|
26.638 |
23.121 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2016 |
31.03.2017 |
31.03.2018 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
6543.938 |
8287.094 |
10203.163 |
|
Profit/ (Loss) |
(83.469) |
44.381 |
45.955 |
|
|
(1.28%) |
0.54% |
0.45% |
LEGALS
FILE
Top of Form
Metropolitan Magistrate Court, Calcutta
Case Details
Case Type: GRS
Filing Number: 21684/2015Filing Date: 00-00-0000
Registration Number: 2740/2015Registration Date: 06-05-2015
Case Code: 200100216842015
Case Status
First Hearing
Date: 13th November 2015
Next Hearing Date: 12th May 2017
Stage of Case: REPORT
Court Number and Judge: 1-CMM COURT, CALCUTTA.
Petitioner and Advocate
1) State Of West
Bengal
Address - KOLKATA
Respondent and Advocate
1) M/S OSWAL MINERALS
LTD
Address - CHANNI-600043
Acts
|
Under Act(s) |
Under Section(s) |
|
Indian Penal Code |
120B/406/420 |
|
FIR Details |
Police
Station: CALCUTTA SOUTH DIVN. SHAKESPEAR SARANI
FIR Number: 192
Year: 0
History of Case Hearing
|
Registration Number |
Judge |
Business On Date |
Hearing Date |
Purpose of hearing |
|
2740/2015 |
CMM COURT, CALCUTTA. |
13-11-2015 |
10-12-2015 |
REPORT |
|
2740/2015 |
CMM COURT, CALCUTTA. |
10-12-2015 |
12-05-2017 |
REPORT |
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 |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
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 |
Yes |
|
33 |
Market information |
--- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
CORPORATE INFORMATION
(As on 31.03.2017)
Subject the Company is a Public Limited Company domiciled in India and is listed on the Metropolitan Stock Exchange of India Limited (MSEI). The company incorporated on 4th July,1996 under the provisions of the Companies Act, 1956 ("The Act") and is having it's registered office at " #8/11, Police station Road, Pallavaram, Chennai-600043" and Corporate office at "Oswal's", # 1034, 2nd Floor, 4th block, Dr. Raj Kumar Road, Rajaji Nagar, Bangalore, Karnataka - 560010.
The Company is engaged in the business of "import, export, sale, trade of all kinds of ferro alloys ferrous and non - ferrous metals, nitrogen bearing ferro alloys etc".
UNSECURED LOAN
|
PARTICULARS |
31.03.2018 (INR
in Million) |
31.03.2017 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans and advances
from related parties |
|
|
|
Un secured From directors |
NA |
1815.591 |
|
Total |
NA |
1815.591 |
CONTINGENT
LIABILITIES:
(INR in Million)
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
|
Other money for
which the Company is contingently liable |
|
|
|
Demand raised for Entry tax as per West Bengal Value Added Tax rules, 2005 |
NA |
2.835 |
INDEX OF CAHREGS:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G70145974 |
100140026 |
HDFC BANK LIMITED |
27/10/2017 |
- |
- |
200000000.0 |
HDFC BANK HOUSE SENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
2 |
G54720792 |
100125157 |
YES BANK LIMITED |
05/09/2017 |
- |
- |
300000000.0 |
NEHRU CENTER, 9TH FLOOR, DISCOVERY OF INDIA,DR. A.B. ROAD, WORLIMUMBAIMH400018IN |
|
3 |
G37234986 |
10469083 |
RBL BANK LIMITED |
23/12/2013 |
20/02/2017 |
- |
300000000.0 |
SHAHUPURI,KOLHAPUR,KOLHAPURMa416001IN |
|
4 |
G60731361 |
10368306 |
CITI BANK N.A. |
27/06/2012 |
13/09/2017 |
- |
320000000.0 |
3rd Floor, Canberra BlockUB City, Vittal Mallya RoadBangaloreKA560001IN |
|
5 |
C15615206 |
10039457 |
State Bank of India |
25/09/2006 |
- |
05/08/2014 |
12000000.0 |
COMMERICAL BRANCH, RAJAJINAGAR INDUSTRIAL ESTATEWEST OF CHORD ROAD, RAJAJINAGARBANGALOREKA560044IN |
|
6 |
B97252225 |
10240420 |
KOTAK MAHINDRA BANK LIMITED |
18/08/2010 |
- |
03/02/2014 |
235000000.0 |
36-38A, NARIMAN BHAVAN, 227,D,NARIMAN POINT,MUMBAIMH400021IN |
FIXED ASSETS:
Tangible Assets
·
Computer
·
Plant
and Equipment
·
Office
Equipment
·
Furniture
and Fixtures
·
Vehicles
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 : |
SPY |
|
|
|
|
Analysis Done by
: |
VRS |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
YES |
|
--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.