|
|
|
MIRA INFORM REPORT
|
Report No. : |
508596 |
|
Report Date : |
21.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
HINDUSTAN FERRO ALLOY INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Survey No. 37/1/1, SAMCO Industrial Estate, Near Pari Company, Narhe,
Taluka – Haveli, Pune – 411041,
Maharashtra |
|
Tel. No.: |
91-20-66475100 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
07.09.2010 |
|
|
|
|
Com. Reg. No.: |
25-137273 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 94.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27310PN2010PTC137273 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
27AACCH5231M1ZH |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCH5231M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The company is engaged in the manufacturing of bright bars and trading of ferrous and non-ferrous metals, industrial metals and allied products. [Registered activity and also confirmed by management] |
|
|
|
|
No. of Employees
: |
60 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was established in the year 2010 and it is engaged as manufacturer of bright bars and distributor of all type of ferrous and non-ferrous metals. For the Financial year 2017, the company has achieved marginal growth of 2% in its revenue as compared to its previous year along with thin profit margin during the year. The company possesses satisfactory financial risks profile marked by acceptable net worth base and strong debt protection metrics. Rating continue to derive strength from its established track record of its business operations. However, these rating strength gets partially offset by susceptibility to fluctuation in the prices of commodities, presence in highly competitive and fragmented nature of industry and working capital intensive nature of operations. Payments seems to be slow but correct. In view of aforesaid, the company can be considered for business dealing 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
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2018.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 21.05.2018
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 PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Mehabub |
|
Designation : |
Manager |
|
Contact No.: |
91-20-66475100 |
|
Date : |
14.05.2018 |
LOCATIONS
|
Registered Office/ Factory : |
Survey No. 37/1/1, SAMCO Industrial Estate, Near Pari Company, Narhe,
Taluka – Haveli, Pune – 411041,
Maharashtra, India |
|
Tel. No.: |
91-91-20-66475100 / 01 / 02 |
|
Mobile No.: |
91-8888816696 (Mr. Mehabub) |
|
Fax No.: |
91-20-66475151 |
|
E-Mail : |
|
|
Location : |
Owned |
DIRECTORS
AS ON 31.03.2018
|
Name : |
Mr. Kantilal Hastimal Oswal |
||||||||
|
Designation : |
Managing Director |
||||||||
|
Address : |
Sujay Garden Building No.1, Flat No. 402, 12 Mukund Nagar, Gultekadi,
Pune – 411037, Maharashtra, India |
||||||||
|
Date of Birth/Age : |
01.06.1967 |
||||||||
|
Date of Appointment : |
01.12.2010 |
||||||||
|
PAN No.: |
AABPO0918J |
||||||||
|
DIN No.: |
02914421 |
||||||||
|
Other Directorship:
|
|||||||||
|
|
|
||||||||
|
Name : |
Mr. Dinesh Hastimal Oswal |
||||||||
|
Designation : |
Whole Time Director |
||||||||
|
Address : |
Sujay Garden, Building, Flat No. 502, 12 Mukund Nagar, Gultekadi, Pune
– 411037, Maharashtra, India |
||||||||
|
Date of Birth/Age : |
29.04.1973 |
||||||||
|
Date of Appointment : |
07.09.2010 |
||||||||
|
PAN No.: |
AAAPO6821H |
||||||||
|
DIN No.: |
02914420 |
||||||||
|
|
|
||||||||
|
Name : |
Mr. Rahul Champalal Jain |
||||||||
|
Designation : |
Whole Time Director |
||||||||
|
Address : |
12 Mukund Nagar, Sujay Garden, Flat No.410, Chintamani Building,
Gultekadi, Pune – 411037, Maharashtra, India |
||||||||
|
Date of Birth/Age : |
03.02.1979 |
||||||||
|
Date of Appointment : |
01.12.2010 |
||||||||
|
PAN No.: |
AEHPJ2151C |
||||||||
|
DIN No.: |
03276387 |
||||||||
|
|
|
||||||||
|
Name : |
Mr. Bhavesh Champalal Jain |
||||||||
|
Designation : |
Whole Time Director |
||||||||
|
Address : |
303/1, Nana Peth, Pune – 411002, Maharashtra, India |
||||||||
|
Date of Birth/Age : |
22.06.1984 |
||||||||
|
Date of Appointment : |
01.12.2010 |
||||||||
|
DIN No.: |
03276395 |
||||||||
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|
|
||||||||
|
Name : |
Mr. Bharat Jethmal Oswal |
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|
Designation : |
Whole Time Director |
||||||||
|
Address : |
135, Nana Peth, Flat No. 14, Pune – 411002, Maharashtra, India |
||||||||
|
Date of Birth/Age : |
22.07.1978 |
||||||||
|
Date of Appointment : |
01.12.2010 |
||||||||
|
PAN No.: |
AAIPO0810G |
||||||||
|
DIN No.: |
03278483 |
||||||||
|
|
|
||||||||
|
Name : |
Mrs. Prabha Dinesh Oswal |
||||||||
|
Designation : |
Whole Time Director |
||||||||
|
Address : |
Flat No. 502, Wing – k, Swayambhu Building, Sujay Garden, Mukund Nagar,
Pune – 411037, Maharashtra, India |
||||||||
|
Date of Birth/Age : |
01.06.1977 |
||||||||
|
Date of Appointment : |
01.12.2010 |
||||||||
|
PAN No.: |
AAGPO3389N |
||||||||
|
DIN No.: |
03280186 |
||||||||
|
|
|
||||||||
|
Name : |
Mrs. Pushpa Kantilal Oswal |
||||||||
|
Designation : |
Whole Time Director |
||||||||
|
Address : |
402, Vighnahara, Sujay Garden Society, Mukund Nagar, Pune – 411037,
Maharashtra, India |
||||||||
|
Date of Birth/Age : |
01.06.1970 |
||||||||
|
Date of Appointment : |
01.12.2010 |
||||||||
|
PAN No.: |
AAGPO6431K |
||||||||
|
DIN No.: |
03306366 |
||||||||
KEY EXECUTIVES
|
Name : |
Mr. Sambit Kumar Sarangi |
|
Designation : |
Company Secretary |
|
Address : |
J Extension Laxmi Nagar, Delhi – 110092, India |
|
Date of Appointment : |
01.03.2016 |
|
PAN No.: |
AJKPS0331H |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders (Equity Shares) |
No. of Shares |
|
Kantilal Hastimal Oswal |
20000 |
|
Dinesh Hastimal Oswal |
20000 |
|
Bharat Jethmal Oswal |
20000 |
|
Rahul Champalal Jain |
10000 |
|
Bhavesh Champalal Jain |
10000 |
|
Pushpa Kantilal Oswal |
10000 |
|
Prabha Dinesh Oswal |
10000 |
|
|
|
|
Total |
100000 |
|
Names of Shareholders (Preference Shares) |
No. of Shares |
|
Kantilal Hastimal Oswal |
343000 |
|
Dinesh Hastimal Oswal |
291000 |
|
Bharat Jethmal Oswal |
65000 |
|
Rahul Champalal Jain |
62000 |
|
Bhavesh Champalal Jain |
79000 |
|
|
|
|
Total |
840000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2017
|
Category |
Percentage |
|
Promoters [Individual/Hindu Undivided Family
(Indian)] |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in the manufacturing of bright bars and trading of ferrous and non-ferrous metals, industrial metals and allied products. [Registered activity and also confirmed by management] |
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Products / Services
: |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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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 |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management |
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|
Bankers : |
·
Standard Chartered Bank, Crescenzo, 3A/F, Plot
no. C-38 and 39G Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400051,
Maharashtra, India |
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|
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Facilities : |
|
|
Auditors : |
|
|
Name : |
SNR and Associates Chartered Accountants |
|
Address : |
14, Mahatma Gandhi, Road, Pune – 411001, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
ABYFS5130J |
|
|
|
|
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 : |
· Hindustan Iron and Steel Co. · Shree Ambika Metal Corporation · Jainam Steels · Shree Ajit Metal Corporation · RMD Jirawla Steel and Allied LLP · Hindustan Iron and Steel Co. ·
Hindustan Steel Syndicate |
CAPITAL STRUCTURE
AS ON 29.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
INR 100/- each |
INR 10.000 Million |
|
900000 |
Preference Shares |
INR 100/- each |
INR 90.000 Million |
|
|
|
|
|
|
|
Total |
|
INR 100.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
INR 100/- each |
INR 10.000 Million |
|
840000 |
Preference Shares |
INR 100/- each |
INR 84.000 Million |
|
|
|
|
|
|
|
Total |
|
INR 94.000
Million |
FINANCIAL DATA
[all figures are
in 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 |
94.000 |
94.000 |
94.000 |
|
(b) Reserves & Surplus |
28.783 |
23.784 |
18.817 |
|
(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) |
122.783 |
117.784 |
112.817 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
46.973 |
39.709 |
30.693 |
|
(b) Deferred tax liabilities (Net) |
0.817 |
0.512 |
0.585 |
|
(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) |
47.790 |
40.221 |
31.278 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
192.008 |
181.376 |
178.044 |
|
(b) Trade
payables |
87.903 |
76.195 |
84.573 |
|
(c) Other current
liabilities |
8.374 |
6.829 |
7.952 |
|
(d) Short-term
provisions |
2.930 |
2.428 |
2.737 |
|
Total Current
Liabilities (4) |
291.215 |
266.828 |
273.306 |
|
|
|
|
|
|
TOTAL |
461.788 |
424.833 |
417.401 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
50.219 |
37.516 |
37.200 |
|
(ii)
Intangible Assets |
0.022 |
0.029 |
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 |
1.800 |
1.800 |
1.100 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term Loan and Advances |
1.597 |
9.865 |
8.051 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
53.638 |
49.210 |
46.351 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
234.873 |
200.374 |
189.075 |
|
(c) Trade receivables |
156.262 |
157.427 |
166.754 |
|
(d) Cash
and cash equivalents |
13.256 |
13.748 |
11.899 |
|
(e)
Short-term loans and advances |
3.759 |
4.074 |
3.322 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
408.150 |
375.623 |
371.050 |
|
|
|
|
|
|
TOTAL |
461.788 |
424.833 |
417.401 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
603.989 |
593.306 |
585.193 |
|
|
Other Income |
1.086 |
0.579 |
1.197 |
|
|
TOTAL |
605.075 |
593.885 |
586.390 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
278.284 |
249.890 |
267.727 |
|
|
Purchases of
Stock-in-Trade |
262.382 |
275.318 |
228.503 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(29.462) |
(19.159) |
1.201 |
|
|
Employee benefit expense |
15.536 |
13.989 |
13.121 |
|
|
Other expenses |
34.078 |
34.741 |
32.538 |
|
|
TOTAL |
560.818 |
554.779 |
543.090 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
44.257 |
39.106 |
43.300 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
33.077 |
29.045 |
33.351 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
11.180 |
10.061 |
9.949 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
4.376 |
3.666 |
3.403 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
6.804 |
6.395 |
6.546 |
|
|
|
|
|
|
|
Less |
TAX |
1.804 |
1.427 |
1.578 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
5.000 |
4.968 |
4.968 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
66.98 |
49.68 |
49.68 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
1.541 |
0.762 |
1.632 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
33.100 |
28.023 |
35.071 |
|
Net cash flows from (used in) operating activities |
33.100 |
28.023 |
35.071 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
94.43 |
96.85 |
104.01 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
3.87 |
3.77 |
3.51 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
59.34 |
52.95 |
62.21 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.19 |
0.20 |
0.23 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.88 |
1.04 |
1.16 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.74 |
0.72 |
0.73 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.96 |
1.88 |
1.86 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
2.37 |
2.27 |
2.42 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.41 |
0.32 |
0.33 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.34 |
1.35 |
1.30 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT
/ Sales) * 100) |
% |
0.83 |
0.84 |
0.85 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
1.08 |
1.17 |
1.19 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
4.07 |
4.22 |
4.40 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.40 |
1.41 |
1.36 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.60 |
0.66 |
0.67 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.27 |
0.28 |
0.27 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
2.56 |
2.36 |
2.24 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.40 |
1.41 |
1.36 |
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 |
94.000 |
94.000 |
94.000 |
|
Reserves & Surplus |
18.817 |
23.784 |
28.783 |
|
Net
worth |
112.817 |
117.784 |
122.783 |
|
|
|
|
|
|
Long-term borrowings |
30.693 |
39.709 |
46.973 |
|
Short term borrowings |
178.044 |
181.376 |
192.008 |
|
Current maturities of
long-term debts |
1.632 |
0.762 |
1.541 |
|
Total
borrowings |
210.369 |
221.847 |
240.522 |
|
Debt/Equity
ratio |
1.865 |
1.884 |
1.959 |
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 |
585.193 |
593.306 |
603.989 |
|
|
|
1.386 |
1.801 |
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 |
585.193 |
593.306 |
603.989 |
|
Profit/ (Loss) |
4.968 |
4.968 |
5.000 |
|
|
0.85
% |
0.84
% |
0.83
% |
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 |
Yes |
|
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 |
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 |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
CORPORATE INFORMATION:
The company has been incorporated by conversion of Hindustan Steel Trading Company, a Partnership Firm, under Part IX of the Companies Act, 1956 on 7th September, 2010. The Company is engaged in the manufacturing of bright bars and trading of ferrous and non-ferrous metals, industrial metals and allied products.
STATE OF COMPANY’S AFFAIRS AND FUTURE
OUTLOOK:
The details of Business operations done during the year:
In the current year it is expected that there will be mix trend in demand of product in which the Company deals and the positive trend is likely to continue as a result of which they expect better working in the current year in terms of sales and profitability.
The future outlook of the Company and its professional management makes an enterprise of high quality and high efficiency as core competition. In addition, the technology has been constantly innovated, and the system of production and sales integrated, so that the enterprise could keep sustainability operation for providing superior product and prefect service.
During the year, the Company has achieved turnover of INR 603.989 million as compared to the previous year of INR 593.306 million.
The Directors feel that this current year is going to be better for the Company as we are striving hard to achieve the full production capacity and also striving towards Research and Development activities.
UNSECURED LOANS:
|
PARTICULARS |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
LONG TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
43.590 |
38.512 |
|
|
|
|
|
Total |
43.590 |
38.512 |
INDEX OF CHARGES:
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G74346107 |
100148712 |
DAIMLER FINANCIAL SERVICES INDIA PRIVATE LIMITED |
25/12/2017 |
- |
- |
2699000.0 |
UNIT 202, 2ND FLOOR, CAMPUS 3B,RMZ MILLENNIABUSINESS PARK, NO.143, DR. M.G.R. ROAD, PERUNGUDICHENNAITA600096IN |
|
2 |
G69674166 |
100141378 |
HDFC BANK LIMITED |
27/09/2017 |
- |
- |
849000.0 |
HDFC BANK HOUSE, SENAPATI BAPAT MARG LOWER PAREL (WEST), MUMBAI MH400013IN |
|
3 |
G38816542 |
100084556 |
STANDARD CHARTERED BANK |
06/03/2017 |
- |
- |
245000000.0 |
CRESCENZO, 3A/F, PLOT NO. C-38 & 39G BLOCK, BANDRA KURLA COMPLEX, BANDRA EAST MUMBAI MH400051IN |
|
4 |
G14563456 |
100053884 |
STANDARD CHARTERED BANK |
26/09/2016 |
- |
- |
11000000.0 |
CRESCENZO, 3A/F, PLOT NO. C-38 & 39G BLOCK, BANDRA KURLA COMPLEX, BANDRA EAST MUMBAI MH400051IN |
|
5 |
G32379943 |
100070558 |
DAIMLER FINANCIAL SERVICES INDIA PRIVATE LIMITED |
23/09/2016 |
- |
- |
2985160.0 |
UNIT 202, 2ND FLOOR, CAMPUS 3B,RMZ MILLENNIABUSINESS PARK, NO.143, DR. M.G.R. ROAD, PERUNGUDICHENNAITA600096IN |
|
6 |
G11954914 |
100050132 |
STANDARD CHARTERED BANK |
23/08/2016 |
- |
- |
245000000.0 |
SME CREDIT, CRESCENZO, 3A/F, PLOT NO. C-38 & 39G BLOCK, BANDRA KURLA COMPLEX, BANDRA EAST MUMBAI MH400051IN |
|
7 |
G32042061 |
100069834 |
HDFC BANK LIMITED |
15/07/2016 |
- |
- |
1158000.0 |
HDFC BANK HOUSE, SENAPATI BAPAT MARG LOWER PAREL (WEST), MUMBAI MH400013IN |
|
8 |
G29510427 |
100088810 |
DAIMLER FINANCIAL SERVICES INDIA PRIVATE LIMITED |
29/06/2015 |
- |
- |
1500215.0 |
UNIT 202, 2ND FLOOR, CAMPUS 3B,RMZ MILLENNIA BUSINESS PARK, NO.143, DR. M.G.R.ROAD, PERUNGUDI CHENNAI TA600096IN |
|
9 |
G70139886 |
10396530 |
DAIMLER FINANCIAL SERVICES INDIA PRIVATE LIMITED |
28/11/2012 |
- |
08/12/2017 |
1768000.0 |
UNIT 202, 2ND FLOOR, CAMPUS 3B,RMZ MILLENNIA BUSINESS PARK, NO.143, DR. M.G.R.ROAD, PERUNGUDI CHENNAI TN600096IN |
|
10 |
G37609815 |
10275570 |
CANARA BANK |
24/02/2011 |
23/03/2013 |
17/02/2017 |
254000000.0 |
PRIME CORPORATE BRANCH .11M.G. ROAD, CAMP PUNE MH411001IN |
FIXED ASSETS:
Tangible assets
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
Intangible assets
· Computer software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l Anti-Money
Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 67.96 |
|
|
1 |
INR 91.88 |
|
Euro |
1 |
INR 80.28 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHL |
|
|
|
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
NKT |
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.