|
|
|
MIRA INFORM REPORT
|
Report No. : |
499670 |
|
Report Date : |
30.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
APL METALS LIMITED (w.e.f. 25.10.2016) |
|
|
|
|
Formerly Known
As : |
ASSOCIATED PIGMENTS LIMITED |
|
|
|
|
Registered
Office : |
18/1 A, Hindustan Road, Kolkata – 700029, West Bengal |
|
Tel. No.: |
91-33-24652433 / 24652434 |
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|
|
Country : |
India |
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Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
22.12.1948 |
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|
|
|
Com. Reg. No.: |
21-017455 |
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|
|
|
Capital
Investment / Paid-up Capital : |
INR 229.264 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L24224WB1948PLC017455 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Available |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AACCA4246P |
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|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
19AACCA4246P1ZA |
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|
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|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
The Company is engaged in producing Refined Lead and Lead Alloys. (Registered activity) |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
C |
|
Credit Rating |
Explanation |
Rating Comments |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
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|
|
Litigation : |
Exist |
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Comments : |
Subject was incorporated in the year 1948 and it is a manufacturer of Lead and Lead Oxides. As per financials of March 2017, the company has registered marginal decline in its revenue and has reported minimal profit margin. Rating takes into consideration the company’s below average financial risk profile along with negative reserves and unfavourable gap between its trade payables to its trade receivables. Rating also takes into account the working capital intensive nature of operations and stretched liquidity position. However, ratings weakness is partially offset by extensive experience of the promoter in the industry and established relationships with reputed clientele. Payments terms seems to be slow. In view of aforesaid, the company can be considered for business dealings at safe and secured 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 |
CRISIL |
|
Rating |
Long Term Rating = C |
|
Rating Explanation |
Poor-credit-quality and limited prospects of recovery. |
|
Date |
30.06.2017 |
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 30.03.2018
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.
INFORMATION DENIED BY
|
Name : |
Mr. Sunny Damani |
|
Designation : |
Chief Financial Officer |
|
Contact No.: |
91-9830999667 |
|
Date : |
25.03.2018 |
91-22-62430116 (RINGING)
LOCATIONS
|
Registered Office : |
18/1A, Hindustan Road, Kolkata – 700029, West Bengal, India |
|
Tel. No.: |
91-33-24652433 / 24652434 |
|
Fax No.: |
91-33-24650925 |
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E-Mail : |
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Website : |
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BRANCH OFFICES : |
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Delhi Office
: |
"Prakash Deep", 4735/XI, Medical Association Road, 22, Darya Ganj, New Delhi – 110002, India |
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Malwan Office : |
Plot No - B 4 and 5, U.P.S.I.D.C Industrial Area, Malwan - 212 664, Fatehpur, India |
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Bangalore Office
: |
1053/A/2, 1st Floor, Munniyappa Complex, B.E.M.I. Main Road, New Tippsandra, Bangalore - 560 075, Karnataka, India |
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Kanpur Office : |
123/433 A, Factory Area, Fazalganj, Kanpur - 208012, Uttar Pradesh, India |
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Bharatpur Office
: |
Malgodown Road,Bharatpur, Near Poonam Dharam Kanta, Rajasthan - 321002, India |
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Hyderabad Office : |
Flot No :202, Sai Surabhi, Laxmi Apartment, 3-4-827, (Opposite to Paragon Apartment), Barkatpura, Hyderabad - 500027, India |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Sanjiv Nandan Sahaya |
|
Designation : |
Managing Director |
|
Address : |
26C, Alipore Road, Kolkata – 700027, West Bengal, India |
|
Date of Birth/Age : |
11.08.1959 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
06.01.2005 |
|
PAN No.: |
AMAPS0680C |
|
DIN No.: |
00019420 |
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|
|
|
Name : |
Mr. Ravi Nandan Sahaya |
|
Designation : |
Director |
|
Address : |
Sahaya Sadan Bailey Road, Patna – 800001, Bihar, India |
|
Date of Birth/Age : |
03.08.1942 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
25.08.1989 |
|
PAN No.: |
AANPS6270P |
|
DIN No.: |
00059292 |
|
|
|
|
Name : |
Mr. Sanjay Sarda |
|
Designation : |
Director |
|
Address : |
No. 732, 7th Cross, 3rd Block, Koramangala, Bangalore –
560034, Karnataka, India |
|
Date of Birth/Age : |
19.09.1960 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
29.05.2017 |
|
PAN No.: |
|
|
DIN No.: |
00208161 |
|
|
|
|
Name : |
Mr. Om Prakash Saxena |
|
Designation : |
Director |
|
Address : |
6 Turf Road, Kolkata – 700025, West Bengal, India |
|
Date of Birth/Age : |
08.08.1947 |
|
Qualification : |
FCA |
|
Date of Appointment : |
28.04.2010 |
|
PAN No.: |
AIUPS5186M |
|
DIN No.: |
01059659 |
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|
|
|
Name : |
Mr. Prakash Kumar Damani |
|
Designation : |
Director |
|
Address : |
118 Southern Avenue, Kolkata – 700029, West Bengal, India |
|
Date of Appointment : |
12.11.2016 |
|
DIN No.: |
01166790 |
|
|
|
|
Name : |
Mr. Rajendra Sahay |
|
Designation : |
Director |
|
Address : |
41/1B, Jhowtala Road, Fl 1C, Kolkata – 700019, West Bengal, India |
|
Date of Birth/Age : |
29.10.1952 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
30.05.2013 |
|
PAN No.: |
AIRPS4156J |
|
DIN No.: |
02633026 |
|
|
|
|
Name : |
Mr. Bijan Roy |
|
Designation : |
Director |
|
Address : |
12C, Garfa 4th Lane, P.O. Santoshpur / Jadavpur, Kolkata –
700075, West Bengal, India |
|
Date of Birth/Age : |
13.05.1947 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
13.02.2017 |
|
PAN No.: |
ACIPR4154Q |
|
DIN No.: |
02668395 |
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|
|
|
Name : |
Mr. Rahul Damani |
|
Designation : |
Director |
|
Address : |
5A, Abhisarika 118, Southern Avenue, Kolkata – 700029, West Bengal,
India |
|
Date of Appointment : |
12.11.2016 |
|
DIN No.: |
05216197 |
|
|
|
|
Name : |
Mr. Rakesh Verma |
|
Designation : |
Director |
|
Address : |
56, R.S.M Road, Jadavpur, Kolkata – 700032, West Bengal, India |
|
Date of Birth/Age : |
27.08.1965 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
13.02.2015 |
|
PAN No.: |
ABQPV2010E |
|
DIN No.: |
07102952 |
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|
|
|
Name : |
Mr. Kumud Kumar Dubey |
|
Designation : |
Director |
|
Address : |
A/99, Lake Gardens, S.O. Kolkata – 700045, West Bengal, India |
|
Date of Appointment : |
13.02.2017 |
|
DIN No.: |
07733333 |
KEY EXECUTIVES
|
Name : |
Mr. Ram Narayan Prajapati |
|
Designation : |
Company Secretary |
|
Address : |
41, S.C. Road (B. Colony), S. Dum Dum Municipality, North 24,
Paraganas, Kolkata – 700089, West Bengal, India |
|
Date of Appointment : |
30.05.2013 |
|
PAN No.: |
AEJPP0540B |
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|
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|
Name : |
Mr. Rajnish Gambhir |
|
Designation : |
Chief Executive Officer |
|
Address : |
18/1, Loudon Street, Kolkata – 700017, West Bengal, India |
|
Date of Appointment : |
02.07.2014 |
|
PAN No.: |
AFXPG5048J |
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|
|
|
Name : |
Mr. Sanjiv Nandan Sahaya |
|
Designation : |
Chief Executive Officer |
|
Address : |
26C, Alipore Road, Kolkata – 700027, West Bengal, India |
|
Date of Birth/Age : |
11.08.1959 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
29.05.2014 |
|
PAN No.: |
AMAPS0680C |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 15.09.2017
SHAREHOLDER’S DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 15.09.2017
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided Family
– Indian) |
67.00 |
|
Promoter - Bodies
corporate |
5.55 |
|
Public – (Individual/ Hindu
Undivided Family – Indian) |
26.41 |
|
Public - Bodies corporate |
1.03 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in producing Refined Lead and Lead Alloys. (Registered activity) |
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Products : |
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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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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
VPC Associates Chartered Accountants |
|
Address : |
9/12 Lal Bazar Street, Kolkata - 700001, West Bengal, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAIFR1123P |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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|
Other Related Parties : |
U70101WB1979PTC032337 |
CAPITAL STRUCTURE
As on 15.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11000000 |
Equity Shares |
INR 10/- each |
INR 110.000 Million |
|
12200000 |
Preference Shares |
INR 10/- each |
INR 122.000 Million |
|
|
Total |
|
INR 232.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10726387 |
Equity Shares |
INR 10/- each |
INR 107.264
Million |
|
12200000 |
Preference Shares |
INR 10/- each |
INR 122.000 Million |
|
|
Total |
|
INR 229.264
Million |
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12800000 |
Equity Shares |
INR 10/- each |
INR 128.000 Million |
|
12200000 |
Preference Shares |
INR 10/- each |
INR 122.000 Million |
|
|
Total |
|
INR 250.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10726387 |
Equity Shares |
INR 10/- each |
INR 107.264
Million |
|
12200000 |
Preference Shares |
INR 10/- each |
INR 122.000 Million |
|
|
Less : Calls
unpaid by others |
|
INR 0.055 Million |
|
|
Total |
|
INR 229.209
Million |
FINANCIAL DATA
[all figures are
in Rupees 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 |
229.209 |
229.209 |
229.209 |
|
(b) Reserves and Surplus |
(129.648) |
(134.500) |
(138.886) |
|
(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) |
99.561 |
94.709 |
90.323 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
389.364 |
209.307 |
214.454 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
25.000 |
25.000 |
25.000 |
|
(d) long-term
provisions |
12.380 |
10.619 |
9.459 |
|
Total Non-current
Liabilities (3) |
426.744 |
244.926 |
248.913 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
172.210 |
343.095 |
504.152 |
|
(b) Trade
payables |
548.080 |
484.374 |
379.965 |
|
(c) Other
current liabilities |
148.787 |
205.486 |
199.910 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
869.077 |
1032.955 |
1084.027 |
|
|
|
|
|
|
TOTAL |
1395.382 |
1372.590 |
1423.263 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
137.562 |
152.461 |
151.751 |
|
(ii)
Intangible Assets |
12.060 |
16.111 |
16.111 |
|
(iii) Tangible assets
capital work-in-progress |
7.680 |
7.680 |
7.087 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.010 |
0.010 |
0.010 |
|
(c) Deferred tax assets (net) |
129.451 |
131.665 |
133.635 |
|
(d)
Long-term loans and advances |
11.741 |
12.223 |
10.341 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
298.504 |
320.150 |
318.935 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
776.154 |
863.858 |
942.887 |
|
(c) Trade
receivables |
143.866 |
5.373 |
75.811 |
|
(d) Cash and
bank balances |
7.554 |
6.252 |
3.177 |
|
(e)
Short-term loans and advances |
169.304 |
176.957 |
82.453 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
1096.878 |
1052.440 |
1104.328 |
|
|
|
|
|
|
TOTAL |
1395.382 |
1372.590 |
1423.263 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
3456.580 |
3476.538 |
3058.312 |
|
|
Other Income |
0.799 |
0.397 |
1.314 |
|
|
TOTAL |
3457.379 |
3476.935 |
3059.626 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
2858.380 |
3035.656 |
2501.103 |
|
|
Purchases of
Stock-in-Trade |
4.321 |
2.574 |
165.596 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
89.893 |
(7.831) |
(37.835) |
|
|
Employee benefit expense |
47.950 |
42.532 |
42.656 |
|
|
CSR expenditure |
0.000 |
0.000 |
0.000 |
|
|
Other expenses |
335.346 |
305.805 |
316.827 |
|
|
Prior period items before tax |
0.000 |
0.000 |
56.658 |
|
|
Extraordinary items before tax |
0.000 |
0.000 |
(99.045) |
|
|
TOTAL |
3335.890 |
3378.736 |
2945.960 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION |
121.489 |
98.199 |
113.666 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
91.323 |
91.802 |
132.519 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
30.166 |
6.397 |
(18.853) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
23.005 |
0.040 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
7.161 |
6.357 |
(18.853) |
|
|
|
|
|
|
|
Less |
TAX |
2.213 |
1.971 |
(47.626) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
4.948 |
4.386 |
28.773 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
282.031 |
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
282.031 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
1113.591 |
(1239.506) |
0.000 |
|
|
TOTAL IMPORTS |
1113.591 |
(1239.506) |
0.000 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
0.22 |
0.19 |
1.26 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
18.826 |
17.419 |
19.468 |
|
Net cash flows from (used in) operations |
100.814 |
261.887 |
234.200 |
|
Net cash flows from (used in) operating activities |
100.814 |
261.887 |
234.200 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days [Sundry Debtors / Income * 365] |
|
15.19 |
0.56 |
9.05 |
|
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
|
24.03 |
647.04 |
40.34 |
|
|
|
|
|
|
|
Average Payment Days [Sundry Creditors /
Purchases * 365] |
|
69.88 |
58.19 |
52.01 |
|
|
|
|
|
|
|
Inventory Turnover [Operating Income /
Inventories] |
|
0.16 |
0.11 |
0.12 |
|
|
|
|
|
|
|
Asset Turnover [Operating Income / Net Fixed
Assets] |
|
0.77 |
0.56 |
0.65 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio [(Borrowing + Current Liabilities) / Total Assets] |
|
0.92 |
0.92 |
0.93 |
|
|
|
|
|
|
|
Debt Equity Ratio (Borrowings / NetWorth) |
|
5.83 |
6.02 |
8.17 |
|
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / NetWorth) |
|
8.73 |
10.91 |
12.00 |
|
|
|
|
|
|
|
Fixed Assets to NetWorth (Net Fixed Assets /
NetWorth) |
|
1.58 |
1.86 |
1.94 |
|
|
|
|
|
|
|
Interest Coverage Ratio [PBIT / Financial
Charges] |
|
1.33 |
1.07 |
0.86 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales) * 100] |
(%) |
0.14 |
0.13 |
0.94 |
|
|
|
|
|
|
|
Return on Total Assets [(PAT / Total Assets)
* 100] |
(%) |
0.35 |
0.32 |
2.02 |
|
|
|
|
|
|
|
Return on Investment (ROI) [(PAT / NetWorth)
* 100] |
(%) |
4.97 |
4.63 |
31.86 |
SOLVENCY RATIO
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio [Current Assets / Current Liabilities] |
|
1.26 |
1.02 |
1.02 |
|
|
|
|
|
|
|
Quick Ratio [(Current Assets - Inventories) /
Current Liabilities] |
|
0.37 |
0.18 |
0.15 |
|
|
|
|
|
|
|
G-Score Ratio Financial [NetWorth / Total
Assets] |
|
0.07 |
0.07 |
0.06 |
|
|
|
|
|
|
|
G-Score Ratio Debt [Debts / Equity Capital] |
|
2.53 |
2.49 |
3.22 |
|
|
|
|
|
|
|
G-Score Ratio Liquidity [Total Current
Assets / Total Current Liabilities] |
|
1.26 |
1.02 |
1.02 |
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 |
229.209 |
229.209 |
229.209 |
|
Reserves & Surplus |
(138.886) |
(134.500) |
(129.648) |
|
Net
worth |
90.323 |
94.709 |
99.561 |
|
|
|
|
|
|
Long-term borrowings |
214.454 |
209.307 |
389.364 |
|
Short term borrowings |
504.152 |
343.095 |
172.210 |
|
Current maturities of
long-term debts |
19.468 |
17.419 |
18.826 |
|
Total
borrowings |
738.074 |
569.821 |
580.400 |
|
Debt/Equity
ratio |
8.171 |
6.017 |
5.830 |
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 |
3058.312 |
3476.538 |
3456.580 |
|
|
|
13.675 |
(0.574) |
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 |
3058.312 |
3476.538 |
3456.580 |
|
Profit/ (Loss) |
28.773 |
4.386 |
4.948 |
|
|
0.94
% |
0.13
% |
0.14
% |
LEGAL
CASE
HIGH COURT
|
L & T FINANCE LIMITED SINHA & CO. APL METALS LIMITED & ORS. WITH NEW MOTIONS SECTION 34 |
|
high court-West Bengal |
|
Case no:GA 2894/2017 AP 441/2017 |
|
Case status:Pending |
|
Judge:HON'BLE JUSTICE I. P. MUKERJI |
|
Date:2017-08-31 |
HIGH
COURT
|
L & T FINANCE LIMITED SINHA & CO. APL METALS LIMITED & ORS. UNDEFENDED SUITS |
|
high court-West Bengal |
|
Case no:AP 441/2017 |
|
Case status:Pending |
|
Judge:HON'BLE JUSTICE ARIJIT BANERJEE |
|
Date:2017-06-14 |
HIGH COURT
|
L & T FINANCE LIMITED SINHA & CO. APL METALS LIMITED & ORS. |
|
high court-West Bengal |
|
Case no:AP 441/2017 GA 2894/2017 GA 3140/2017 GA 3136/2017 |
|
Case status:Pending |
|
Judge:HON'BLE JUSTICE I. P. MUKERJI |
|
Date:2017-09-18 |
HIGH COURT
|
L & T FINANCE LIMITED SINHA & CO. APL METALS LIMITED & ORS. WITH COMPANY MATTER ADJ. UNOPPOSED |
|
high court-West Bengal |
|
Case no:GA 2894/2017 AP 441/2017 |
|
Case status:Pending |
|
Judge:HON'BLE JUSTICE I. P. MUKERJI |
|
Date:2017-08-30 |
HIGH COURT
|
L & T FINANCE LIMITED SINHA & CO. APL METALS LIMITED & ORS. |
|
high court-West Bengal |
|
Case no:AP 441/2017 GA 2894/2017 GA 3140/2017 GA 3136/2017 GA 3185/2017 |
|
Case status:Pending |
|
Judge:HON'BLE JUSTICE ASHIS KUMAR CHAKRABORTY |
|
Date:2017-12-04 |
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 |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
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 |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: Registered office of the company has been
shifted from 260 B T Road, Sukchar 24, Parganas N, Kolkata – 700115, West
Bengal, India to the present address w.e.f.
05.12.2006
CHANGE OF NAME
The directors are pleased to inform that the Company has received Certificate of Incorporation pursuant to change of Name issued by Government of India , Ministry of Corporate Affairs, Office of Registrar of Companies - Kolkata-700020, West Bengal, India on Twenty Fifth day of October Two Thousand Sixteen and hence the name of the company has been changed from "Associated Pigments Limited" to “APL Metals Limited”.
PERFORMANCE
The Production during the year declined marginally by 2518 MT (10%) to 23281 MT as against 25799 MT last year. The gross turn over during the year was slightly lower at INR 3457.379 Million as against INR 3476.935 Million last year. The company has infused funds to finance working capital in 3rd quarter of FY 2016-17 which has helped the company to recover its production and gross turnover in last four months (Dec, 16-March, 17) increased by 149 % as compared to preceding four months period (Aug, 16 - Nov, 16).
The average selling Price of Refined Lead had increased by about 15% in the fourth quarter as compared to price in the preceding third quarter. In view of this and improvement in production and revenue in the fourth quarter, the earnings before Interest and Depreciation increased by 37% from INR 23.005 Million in 2015-16 to INR 0.040 Million in FY 2016-17. As per Section 123 (1) and (2) of the Companies Act, 2013 it is mandatory to provide depreciation including arrear depreciation to make profit available for dividend. Hence, the company has adjusted the entire arrear depreciation for the Financial Year 2013-14 and 2014-15 amounting to INR 23.000 Million with the profit during the year and arrear depreciation of INR 0.500 Million due to revision of life of assets on 31st March, 2014 has been adjusted with General Reserves. The balance depreciation for FY 2015-16 and for the current FY 2016-17 aggregating to INR 21.800 Million will be accounted against profit in future and has been explained in the Notes on Accounts.
FUTURE OUT-LOOK
The company has significantly increased its volume of operations since December, 16 and realized gain from economy of scale which has already shown improvement in the last four months of FY 2016-17 and the momentum is continued till date of reporting. The company also proposes to commission the 3rd Rotary to maximize its production through rotary smelting against direct refining which is expected to boost performance further. The company will approach bank/financiers for a need based adequate funding of higher operations. Your Board proposes to continue the momentum of growth in current year also.
STATE OF COMPANIES
AFFAIR
The Company is engaged in producing Refined Lead and Lead Alloys at its plant at Panskura, (West Bengal) and Lead Oxides at its plants at B.T. Road (Kolkata), Malwan (UP) and Bharatpur (Rajasthan, which is discontinued from August, 2015)
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from directors |
121.050 |
3.050 |
|
Loans and advances from others |
0.569 |
0.612 |
|
Other loans and advances |
89.000 |
15.000 |
|
|
|
|
|
Total |
210.619 |
18.662 |
INDEX
OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G77521722 |
100156011 |
SREI EQUIPMENT FINANCE LIMITED |
15/02/2018 |
- |
- |
2034320.0 |
'VISHWAKARMA', 86C, TOPSIA ROAD,KOLKATAWe700046IN |
|
2 |
G76500446 |
100154205 |
SREI EQUIPMENT FINANCE LIMITED |
15/08/2017 |
- |
- |
2196075.0 |
'VISHWAKARMA', 86C, TOPSIA ROAD,KOLKATAWe700046IN |
|
3 |
G69273654 |
100138448 |
SREI EQUIPMENT FINANCE LIMITED |
14/08/2017 |
- |
- |
2956723.0 |
'VISHWAKARMA', 86C, TOPSIA ROAD,KOLKATAWe700046IN |
|
4 |
B90266883 |
10462037 |
L & T FINANCE LIMITED |
23/10/2013 |
- |
- |
460000000.0 |
L&T HOUSE,BALLARD ESTATE,MUMBAIMH400001IN |
|
5 |
B08591430 |
10274114 |
ALLAHABAD BANK |
15/03/2011 |
- |
- |
82500000.0 |
INDUSTRIAL FINANCE BRANCH17, R. N. MUKHERJEE ROAD, 4TH FLOOR.KOLKATAWB700001IN |
|
6 |
G79802203 |
80021365 |
ALLAHABAD BANK |
21/08/1991 |
13/02/2018 |
- |
980000000.0 |
INDUSTRIAL FINANCE BRANCHKISHORE BHAVAN, 4th FLOOR, 17 R.N.MUKHERJEE ROADKOLKATAWB700115IN |
|
7 |
C12117446 |
10271639 |
L & T FINANCE LIMITED |
14/02/2011 |
- |
07/07/2014 |
2373656.0 |
L&T HOUSE,BALLARD ESTATE,MUMBAIMH400001IN |
|
8 |
C06758387 |
10280634 |
TATA CAPITAL LIMITED |
31/03/2011 |
- |
13/06/2014 |
1588843.0 |
ONE FORBESDR V B GANDHI MARG,FORTMUMBAIMH400001IN |
|
9 |
C06761555 |
10284096 |
TATA CAPITAL LIMITED |
26/04/2011 |
- |
13/06/2014 |
871301.0 |
ONE FORBESDR V B GANDHI MARG,FORTMUMBAIMH400001IN |
|
10 |
C06763858 |
10291617 |
TATA CAPITAL LIMITED |
31/05/2011 |
- |
13/06/2014 |
871301.0 |
ONE FORBESDR V B GANDHI MARG,FORTMUMBAIMH400001IN |
FIXED ASSETS
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Computer equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No 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 64.80 |
|
|
1 |
INR 92.26 |
|
Euro |
1 |
INR 80.76 |
INFORMATION DETAILS
|
Information Gathered
by : |
AKS |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
KJL |
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.