MIRA
INFORM REPORT
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Report Date : |
04.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
RATNAGIRI CHEMICALS PRIVATE LIMITED |
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Registered Office : |
611/612, 6th Floor, Raheja Arcade, Sec-11, CBD Belapur, Navi Mumbai-400614, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
11.02.1991 |
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Com. Reg. No.: |
11-60227 |
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CIN No.: [Company
Identification No.] |
U24110MH1991PTC060227 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMR14212C |
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PAN No.: [Permanent
Account No.] |
AAACR7604J |
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Legal Form : |
Private limited liability company |
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Line of Business : |
Manufacturer of Fine chemicals and other chemicals products. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 90000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed company having satisfactory track. Directors are reported as experienced and respectable businessmen. Their trade relations are reported as fair. Business is active. Payments are usually correct and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office /Head office : |
611/612, 6th Floor, Raheja Arcade, Sec-11, CBD Belapur, Navi Mumbai-400614, Maharashtra, India. |
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Tel. No.: |
91-22-2570236/2570191/ 2756 3035 |
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Fax No.: |
91-22-2570060 |
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E-Mail : |
mumbai@ratnagiri-chemicals.com / corporate@ratnagiri-chemicals.com |
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Website : |
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Factory : |
Plot No. C-39, MIDC, Lote Parshuram Industrial Estate, District – Ratnagiri, Lote-415722 |
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Tel No. : |
91-2356 72117 |
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Fax No. : |
91-2356 72650 |
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Email : |
DIRECTORS
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Name : |
Mr. P. V. Ramana Rao |
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Designation : |
Managing Director |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Fine chemicals and other chemicals products. |
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Products : |
Food Grade Antioxidants Butylated hydroxy toluene (2,6 DBPC) Tertiary butyl hydroquinone (TBHQ) Butylated hydroxy anisole (BHA) Antioxidants For Petrochemicals
Industries Butylated hydroxy toluene (2,6 DBPC) Mono tertiary butyl paracresol (MBPC) Gasolene antioxidant Stabilizer for high speed diesel oils Viscosity
index improvers for lubricating oils
Alkylated Phenols 2,4 di - tertiary butyl phenol (2,4 DTBP) 2,6 di - tertiary butyl phenol (2,6 DTBP) Mixed butylated phenols - antioxidants Para
tertiary butyl phenol (PTBP) |
PRODUCTION STATUS
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Particulars |
Unit |
Licensed Capacity |
Installed Capacity |
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2,6 DBPC |
Kg |
600000 |
600000 |
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M.B.P |
Kg |
200000 |
200000 |
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TBHQ |
Kg |
120000 |
120000 |
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Liq. Antioxident |
Kg |
60000 |
60000 |
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Defomer |
Kg |
0 |
0 |
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HDTMA |
Kg |
0 |
0 |
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Diesel Stabileser |
Kg |
0 |
0 |
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BHA |
Kg |
120000 |
120000 |
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2,6/2,4 DTBP |
Kg |
1500000 |
1500000 |
GENERAL
INFORMATION
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No. of Employees : |
About 100 |
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Bankers : |
State Bank of India Balasore |
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Facilities : |
-- |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
A. K. Sabat and company Chartered Accountant |
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Address : |
105 M. K. Bhavan, 300 Shahid Bhagat Singh Road, Fort, Mumbai-400001, Maharashtra, India |
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Tel. No.: |
91-22-22632295/22632298 |
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E-Mail : |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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200000 |
Equity Share |
Rs. 100 each |
Rs. 20.000 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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150500 |
Equity Share |
Rs. 100 each |
Rs. 15.050 millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES
OF FUNDS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
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SHAREHOLDERS
FUNDS |
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1] Share Capital |
15.050 |
12.000 |
10.000 |
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2] Share
Application Money |
0.000 |
0.025 |
0.000 |
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3] Reserves &
Surplus |
7.683 |
8.245 |
5.180 |
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NETWORTH
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22.733 |
20.270 |
15.180 |
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LOAN FUNDS |
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1] Secured Loans |
36.004 |
33.089 |
18.978 |
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2] Unsecured
Loans |
13.255 |
9.170 |
6.721 |
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TOTAL BORROWING
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49.259 |
42.259 |
25.699 |
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DEFERRED TAX
LIABILITIES |
4.991 |
2.811 |
3.671 |
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TOTAL
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76.983 |
65.340 |
44.550 |
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APPLICATION OF FUNDS
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FIXED ASSETS [Net Block]
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42.887 |
40.202 |
21.980 |
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Capital work-in-progress
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0.000 |
0.000 |
0.793 |
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INVESTMENT
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0.010 |
0.010 |
0.010 |
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DEFERREX TAX ASSETS
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CURRENT ASSETS, LOANS &
ADVANCES
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Inventories
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18.017
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19.318
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14.831 |
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Sundry Debtors
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17.607
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31.344
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13.566 |
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Cash & Bank Balances
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0.109
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0.019
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0.254 |
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Loans & Advances
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17.165
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7.448
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7.742 |
Total Current Assets
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52.898
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58.129
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36.393 |
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Less : CURRENT
LIABILITIES & PROVISIONS
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Current Liabilities
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18.819
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32.868
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14.509 |
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Provisions
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0.142
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0.130 |
Total Current Liabilities
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18.819
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33.010
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14.639 |
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Net Current Assets
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34.079
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25.119
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21.754 |
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PRELIMINARY EXPENSES
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0.007 |
0.009 |
0.013 |
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TOTAL
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76.983 |
65.340 |
44.550 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
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Sales Turnover |
106.061 |
103.771 |
79.107 |
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Other Income |
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Total Income |
106.061 |
103.771 |
79.107 |
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Profit/(Loss) Before Tax |
1.858 |
2.348 |
3.196 |
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Provision for Taxation |
0.161 |
0.142 |
0.878 |
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Profit/(Loss) After Tax |
1.697 |
2.206 |
2.318 |
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Earnings in Foreign Currency : |
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Export Earnings |
NA |
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Commission Earnings |
NA |
10.252 |
10.354 |
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Other Earnings |
NA |
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Total Earnings |
NA |
10.252 |
10.354 |
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Imports : |
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Raw Materials |
NA |
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Stores & Spares |
NA |
17.244 |
20.194 |
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Capital Goods |
NA |
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Others |
NA |
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Total Imports |
NA |
17.244 |
20.194 |
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Expenditures : |
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Interest |
5.581 |
2.718 |
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Depreciation & Amortization |
1.762 |
0.977 |
75.910 |
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Other Expenditure |
96.861 |
97.728 |
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Total Expenditure |
104.204 |
101.423 |
75.910 |
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KEY RATIOS
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PARTICULARS |
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31.03.2005 |
31.03.2004 |
31.03.2003 |
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PAT / Total Income |
(%) |
1.60
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2.13 |
2.70 |
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Net Profit Margin (PBT/Sales) |
(%) |
1.75
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2.26 |
4.98 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
1.94
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2.39 |
5.40 |
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Return on Investment (ROI) (PBT/Networth) |
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0.08
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0.16 |
0.21 |
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Debt Equity Ratio (Total Liability/Networth) |
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3.00
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3.71 |
2.66 |
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Current Ratio (Current Asset/Current Liability) |
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2.81
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1.76 |
2.49 |
LOCAL AGENCY
FURTHER INFORMATION
Fixed Assets
Land, Building, Plant and Machinery, Laboratory Equipments, Computers, Office Equipments, Furniture and Fixtures, Telephone Instruments
As Per Website
RATNAGIRI CHEMICALS PRIVATE
LIMITED is a ‘Anti-oxidants manufacturer
and specialty chemical solutions' company since 1996 with focus on specific
customer needs.
RCPL likes to offer a rapidly accessible range of detailed
information on its products to the worldwide customers through this site.
RCPL offers one stop solution to the antioxidants requirement
of world’s food industry with its products like BHT, TBHQ and BHA.
Products confirm to FCC and other standard specifications.
RCPL also offers specific solutions to the petrochemical
industries requirement of anti-oxidants and various alkylated cresols and
phenolic compounds for the petrochemical industry.
With many reputed customers
worldwide, the company gives top priority to the needs and satisfaction of its
customers.
"
Quality Policy "
They at
RATNAGIRI CHEMICALS PRIVATE LIMITED are committed to cost effective production
of high quality Antioxidant Additives and other speciality chemicals for
food,feed and Petrochemical Industries, and to bring in continual improvements
to meet the evolving needs and expectations of the customers.
- P. V.
Ramana Rao
Managing
Director
Other Contact
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Managing Director C.E.O. |
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Marketing |
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Research
& Development |
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Quality
Assurance |
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Purchase |
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Finance |
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Logistics |
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General
Information |
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Webmaster |
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.43.13 |
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UK Pound |
1 |
Rs.85.36 |
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Euro |
1 |
Rs.57.64 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
7 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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54 |
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 and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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