|
|
|
MIRA
INFORM REPORT
|
Report No. : |
495498 |
|
Report Date : |
07.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
JAI RAJ ISPAT LIMITED |
|
|
|
|
Registered
Office : |
11 B, Jitendra Mohan Avenue, Kolkata – 700006, West Bengal |
|
Tel. No.: |
91-33-25338849 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
04.12.1984 |
|
|
|
|
Com. Reg. No.: |
21-038241 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 11.131 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27109WB1984PLC038241 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0988007789 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACJ6859P |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
19AAACJ6859P1ZO |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Sponge Iron (Registered Activity) |
|
|
|
|
No. of Employees
: |
Not Available |
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 |
|
Maximum Credit Limit : |
USD 2100000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 1984 and it is a manufacturer of iron and steel. As per financials of March 2017, the company has registered a growth of 4.50% in its revenue as compared to its previous year’s revenue and has reported average profit margin of 2.53%. Rating takes into consideration the company’s established track record of business operations marked by sound net worth base along with low solvency indicators indicator and good liquidity position. Rating also takes into account the experience of its promoters and management along with established brand image and diversified client base with reputed clientele. Further, the company has reported a good earnings per share of INR 71.12 against its face value of INR 10. Payments seems to be regular. In view of aforesaid, the company can be considered for business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
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 |
CARE |
|
Rating |
Long term rating : A- |
|
Rating Explanation |
Adequate degree of safety and low credit risk |
|
Date |
08.03.2017 |
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 07.03.2018
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.
LOCATIONS
|
Registered Office : |
11 B, Jitendra Mohan Avenue, Kolkata – 700006, West Bengal, India |
|
Tel. No.: |
91-33-25338849 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office/ Factory : |
Plot No. 8, Phase III, I.D.A, Jeedimetla, Hyderabad – 500055, Telangana, India |
|
Tel. No.: |
91-40-23191234/ 2319-8400 |
|
Fax No.: |
91-40-23096664 |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Sajjan Kumar Goenka |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
8-2-583 B, Road No.8, Banjara Hills, Hyderabad - 500034, Telangana,
India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
01.07.1952 |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
04.12.1984 |
||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AECPG2884E |
||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00253145 |
||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Siddharth Jain |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Whole-Time Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
Plot No. 7 & 8, Kausalya Estate, Karkhana, Secunderabad-500195,
Telangana, India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
30.09.2016 |
||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00004817 |
||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Amit Saraf |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Whole-Time Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
8-2-583/B, Road No.8, Banjara Hills, Hyderabad-500034, Telangana,
India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
12.06.1973 |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.08.2015 |
||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00252979 |
||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Krishan Kumar Bhageria |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
12, Gandhi Square, Malka Ganj, Delhi - 110007, India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
15.01.1938 |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
30.09.2014 |
||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
01167358 |
||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Venkateswarlu Nemali |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
Flat 201, Surya Enclave, Plot 118, Kalyan Nagar, Hyderabad - 500038,
Telangana, India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
17.06.1945 |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
25.08.1998 |
||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AAHPN7207K |
||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
01499562 |
||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Sampathkumar Rangachary |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
No 8, T Thimmaiah Road, R K Layout, 2nd Stage, Padmanabhanagar,
Bangalore - 560070, Karnataka, India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
06.10.1947 |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
30.09.2014 |
||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
06894180 |
||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Ms. Rajshree Jain |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
8-2-674/6-10, Road No. 12, Flat No A301, A401, Banjara Hills
Hyderabad-500034, Telangana, India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
30.04.2006 |
||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00253115 |
||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||
MAJOR SHAREHOLDERS
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Sajjan
Kumar Goenka |
|
337710 |
|
Sree
Ram Plywood Mfg. Co. Private Limited, India |
|
197375 |
|
Rajshree
Jain |
|
162908 |
|
Jaishree
Jain |
|
195815 |
|
Nirmala
Goenka Estates Private Limited, India |
|
206675 |
|
Rajshree Jain
and Siddharth Jain |
|
6 |
|
Jaishree Goenka and Amit Saraf |
|
10 |
|
Amit Saraf |
|
12649 |
|
Total |
|
1113148 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2017
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family – Indian) |
62.57 |
|
Promoters (Body corporate) |
36.30 |
|
Public/Other than promoters (Individual/Hindu Undivided Family – Indian) |
1.14 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Sponge Iron (Registered Activity) |
||||
|
|
|
||||
|
Products / Services
: |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
Not Available |
||||
|
|
|
||||
|
Imports : |
Not Available |
||||
|
|
|
||||
|
Terms : |
Not Available |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Not Available |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
R C Jhawer and Company Chartered Accountants |
|
Address : |
7A, Bentinck St, 2nd Floor, Room No 202, Kolkata 700001, West Bengal, India |
|
Income-tax
PAN of auditor or auditor's firm : |
ACOPJ2261N |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
· Sree Ram Plywood MFG Company Private Limited · Nirmala Goenka Estates Private Limited · Nirmala Goenka Estates Private Limited · Sajjan Kumar Goenka (HUF) |
CAPITAL STRUCTURE
As on 30.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
INR 10/- each |
INR 20.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1113148 |
Equity Shares |
INR 10/- each |
INR 11.131 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 |
11.131 |
10.005 |
10.005 |
|
(b) Reserves and Surplus |
710.615 |
575.865 |
538.811 |
|
(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) |
721.746 |
585.870 |
548.816 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
10.482 |
15.342 |
16.328 |
|
(b) Deferred tax liabilities (Net) |
20.713 |
33.354 |
42.176 |
|
(c) Other long-term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
14.054 |
11.645 |
10.627 |
|
Total Non-current
Liabilities (3) |
45.249 |
60.341 |
69.131 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short-term borrowings |
34.590 |
42.528 |
141.498 |
|
(b) Trade payables |
105.802 |
71.664 |
86.545 |
|
(c) Other current liabilities |
48.020 |
58.322 |
26.520 |
|
(d) Short-term
provisions |
9.851 |
6.609 |
4.521 |
|
Total Current Liabilities
(4) |
198.263 |
179.123 |
259.084 |
|
|
|
|
|
|
TOTAL |
965.258 |
825.334 |
877.031 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
373.661 |
442.196 |
442.969 |
|
(ii) Intangible Assets |
0.000 |
0.081 |
0.170 |
|
(iii) Tangible assets capital work-in-progress |
65.731 |
0.000 |
3.677 |
|
(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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term loans and advances |
54.154 |
57.811 |
40.070 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
493.546 |
500.088 |
486.886 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
239.071 |
173.305 |
238.881 |
|
(c) Trade receivables |
133.391 |
81.328 |
108.536 |
|
(d) Cash and bank balances |
12.422 |
11.872 |
10.412 |
|
(e) Short-term loans and advances |
86.812 |
58.222 |
31.880 |
|
(f) Other current assets |
0.017 |
0.519 |
0.436 |
|
Total
Current Assets |
471.713 |
325.246 |
390.145 |
|
|
|
|
|
|
TOTAL |
965.259 |
825.334 |
877.031 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Revenue
from operations |
2818.439 |
2697.016 |
2803.475 |
|
|
Other Income |
14.502 |
50.893 |
97.216 |
|
|
TOTAL |
2832.941 |
2747.909 |
2900.691 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1567.444 |
1714.231 |
1805.716 |
|
|
Purchases of
Stock-in-Trade |
10.388 |
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
26.967 |
(42.756) |
79.794 |
|
|
Employee benefit expense |
76.931 |
64.930 |
57.213 |
|
|
CSR expenditure |
2.000 |
0.000 |
0.000 |
|
|
Other expenses |
966.093 |
885.494 |
801.366 |
|
|
TOTAL |
2649.823 |
2621.899 |
2744.089 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
183.118 |
126.010 |
156.602 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
10.588 |
15.032 |
22.317 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
172.530 |
110.978 |
134.285 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
69.534 |
63.938 |
62.174 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
102.996 |
47.040 |
72.111 |
|
|
|
|
|
|
|
Less |
TAX |
31.814 |
8.783 |
3.378 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
71.182 |
38.257 |
68.733 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
71.12 |
38.24 |
68.70 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
4.861 |
5.845 |
4.286 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
71.834 |
188.980 |
213.387 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
17.27 |
11.01 |
14.13 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
21.13 |
33.16 |
25.83 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
24.48 |
15.26 |
17.49 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.77 |
0.73 |
0.66 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.42 |
0.28 |
0.35 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.22 |
0.24 |
0.32 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.07 |
0.11 |
0.30 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.27 |
0.31 |
0.47 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.61 |
0.75 |
0.81 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
17.29 |
8.38 |
7.02 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
2.53 |
1.42 |
2.45 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
7.37 |
4.64 |
7.84 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
9.86 |
6.53 |
12.52 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
2.38 |
1.82 |
1.51 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.17 |
0.85 |
0.58 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.75 |
0.71 |
0.63 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
4.49 |
6.37 |
16.20 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
2.38 |
1.82 |
1.51 |
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 |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
10.005 |
10.005 |
11.131 |
|
Reserves & Surplus |
538.811 |
575.865 |
710.615 |
|
Net
worth |
548.816 |
585.870 |
721.746 |
|
|
|
|
|
|
long-term borrowings |
16.328 |
15.342 |
10.482 |
|
Short term borrowings |
141.498 |
42.528 |
34.590 |
|
Current maturities of
long-term debts |
4.286 |
5.845 |
4.861 |
|
Total
borrowings |
162.112 |
63.715 |
49.933 |
|
Debt/Equity
ratio |
0.295 |
0.109 |
0.069 |
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 |
2803.475 |
2697.016 |
2818.439 |
|
|
|
(3.797) |
4.502 |
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 |
2803.475 |
2697.016 |
2818.439 |
|
Profit |
68.733 |
38.258 |
71.182 |
|
|
2.45% |
1.42% |
2.53% |
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 |
No |
|
8] |
Designation of contact person |
No |
|
9] |
Promoter’s background |
Yes |
|
10] |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11] |
Pan Card No. of Proprietor / Partners |
No |
|
12] |
Voter Id Card No. of Proprietor / Partners |
No |
|
13] |
Type of business |
Yes |
|
14] |
Line of Business |
Yes |
|
15] |
Export/import details (if applicable) |
No |
|
16] |
No. of employees |
No |
|
17] |
Details of sister concerns |
Yes |
|
18] |
Major suppliers |
No |
|
19] |
Major customers |
No |
|
20] |
Banking Details |
Yes |
|
21] |
Banking facility details |
Yes |
|
22] |
Conduct of the banking account |
-- |
|
23] |
Financials, if provided |
Yes |
|
24] |
Capital in the business |
Yes |
|
25] |
Last accounts filed at ROC, if applicable |
Yes |
|
26] |
Turnover of firm for last three years |
Yes |
|
27] |
Reasons for variation <> 20% |
-- |
|
28] |
Estimation for coming financial year |
No |
|
29] |
Profitability for last three years |
Yes |
|
30] |
Major shareholders, if available |
Yes |
|
31] |
External Agency Rating, if available |
Yes |
|
32] |
Litigations that the firm/promoter
involved in |
-- |
|
33] |
Market information |
-- |
|
34] |
Payments terms |
No |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
OPERATIONAL REVIEW:
During the year, the company managed a turnover of INR 2832.900 Million as against INR 2747.900 Million in the previous year and earned Profit after tax of INR 71.200 Million as against INR 38.300 Million in the previous year. The increase in turnover and profitability is mainly due to increased production and price conditions in the domestic markets in which the Company operates. Presently, all the divisions are working satisfactorily.
The company produced 73473 MT of Sponge Iron and 73466 MT of TMT bars during the year as against 73,386 MT of Sponge Iron and 66289 MT of TMT bars in the previous year respectively. Production of TMT Bars and Sponge Iron increased due to capacity utilization at the optimum level throughout the entire year.
INDEX OF CHARGES
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Amount |
Address |
|
1 |
C36344414 |
80046337 |
State Bank of India |
26/09/1996 |
25/11/2014 |
411700000.0 |
INDUSTRIAL FINANCE BRANCH, MID CORPORATE GROUP RAJBHAVAN ROAD, SOMAJIGUDA HYDERABAD TELANGANA 500082 INDIA |
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Customs duty matters and other matters contested in appeals |
28.224 |
28.184 |
|
Guarantees |
|
|
|
Given by Bank on behalf of the Company |
10.082 |
4.832 |
|
Total |
38.306 |
33.016 |
FIXED ASSETS
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service, Interpol,
etc.
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 65.05 |
|
UK Pound |
1 |
INR 80.03 |
|
Euro |
1 |
INR 89.70 |
INFORMATION DETAILS
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
JYTK |
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.
·