MIRA
INFORM REPORT
|
Report Date : |
06.07.2007 |
IDENTIFICATION DETAILS
|
Name : |
RAMPRA STEEL INDUSTRIAL PRIVATE LIMITED |
|
|
|
|
Registered Office : |
A -11, Shriram Industrial Estate, Near Wadala Telephone Exchange,
Mumbai 400 031, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2006 |
|
|
|
|
Date of Incorporation : |
08.09.1972 |
|
|
|
|
Com. Reg. No.: |
11-15992 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U31300MH1972PTC015992 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMB14596B |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACR5043H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer of Bright Steel Bars |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 170616 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a
well-established and reputed company having satisfactory track records.
Directors are reported as experience and respectable businessmen. 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
|
Registered Office : |
A -11, Shriram Industrial Estate, Near Wadala Telephone Exchange,
Mumbai 400 031, |
|
Tel. No.: |
91-22-24110124 / 25 / 26 |
|
Fax No.: |
91- 22 -24180804 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
B / 5, MIDC Badlapur, Kulgaoan 421 503, District Thane, |
|
Tel. No.: |
91-22-28813066 |
|
Fax No.: |
91-22-28813086 |
|
E-Mail : |
rampra@vsnl.net |
|
|
|
|
Corporate Office : |
No. 85, |
|
Tel. No.: |
91-22-3443933 |
|
Fax No.: |
91-22-3404672 |
DIRECTORS
|
Name : |
Mr. Kishanchand Gupta |
|
Designation : |
Director |
|
Address : |
Dewan Villa, Plot No. 34, Behind |
|
Date of Birth/Age : |
22.05.1919 |
|
Date of Appointment : |
25.06.1973 |
|
|
|
|
Name : |
Mr. Pramod Kumar Gupta |
|
Designation : |
Director |
|
Address : |
Dewan Villa, Plot No. 34, Behind |
|
Date of Birth/Age : |
22.07.1949 |
|
Date of Appointment : |
25.06.1973 |
|
|
|
|
Name : |
Mr. Pravin Kumar Gupta |
|
Designation : |
Director |
|
Address : |
Dewan Villa, Plot No. 34, Behind |
|
Date of Birth/Age : |
06.06.1951 |
|
Date of Appointment : |
01.09.1972 |
|
|
|
|
Name : |
Mr. Ramesh Gupta |
|
Designation : |
Director |
|
|
|
|
Name : |
Mrs. Veena Pramod Gupta |
|
Designation : |
Director |
|
|
|
|
Name : |
Mrs. Sunita Vinod Gupta |
|
Designation : |
Director |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
|
Names of Shareholders |
No. of Shares |
|
Mr. Pravin Kumar Gupta |
20,600 |
|
Mrs. Veena Pramod Gupta |
20,200 |
|
Mrs. Sunita Pravin Gupta |
10,000 |
|
Legal Heir Of Late Mrs. Savitri Devi Gupta |
400 |
|
Mr. Pramod Kumar Gupta |
10,400 |
|
Legal Heir Of Late Mr. Kishan Chand Gupta |
2,400 |
|
Mr. Pramod Kumar Gupta (As Karta Of Pramod Kumar And Son HUF) |
16,000 |
|
Mr. Pravin Kumar Gupta (As Karta Of Pravin Kumar –HUF) |
16,000 |
|
Total |
96,000 |
Equity share breakup (percentage of total equity)
|
Category |
Percentage |
|
Directors or relatives of director |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Bright Steel Bars |
|
|
|
|
Products : |
Pump Shafts, Profile Bars, Hardened, Tempered, Hardened and Tempered,
Hardened Stainless Steels |
|
Exports : |
|
|
Products : |
Pump Shafts, Profile Bars, Hardened, Tempered, Hardened and Tempered,
Hardened Stainless Steels |
|
Countries : |
USA , U. K.., Canada, Germany, Italy, Turkey, Israel, S. Korea,
Morocco, Cyprus, Greece, Brazil, Colombia, Chile, Saudi Arabia, Iran, Dubai,
Lebonon, Jordan, Singapore, Hongkong, China, Vietnam, Syria, Malaysia,
Kuwait, Russia, Australia, Muscat, Dubai. |
GENERAL INFORMATION
|
Bankers : |
|
|
|
|
|
Facilities : |
Overdraft with Canara Bank, against hypothecation of stocks and book debts loan from HDFC ltd, against hypothecation of motor car loan from ICICI ltd, against hypothecation of motor car |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
R. K. Khanna and Associates Chartered Accountant |
|
Address : |
402, Regent chambers, Naniman point, Mumbai – 400 021, |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1,00,000 |
Equity |
Rs 10/- each |
Rs. 1.000 million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
96,000 |
Equity |
Rs. 10/-
each |
Rs. 0.960
million |
FINANCIAL DATA
[all
figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.960 |
0.960 |
0.960 |
|
|
2] Reserves & Surplus |
41.694 |
38.950 |
31.363 |
|
|
NETWORTH |
42.654 |
39.910 |
32.323 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
21.279 |
19.898 |
12.835 |
|
|
2] Unsecured Loans |
6.100 |
14.350 |
9.350 |
|
|
TOTAL BORROWING |
27.379 |
34.248 |
22.185 |
|
|
DEFERRED TAX LIABILITIES |
0.238 |
0.508 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
70.271 |
74.666 |
54.508 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
7.240 |
7.888 |
7.129 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.042 |
0.042 |
0.042 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
26.437
|
24.937 |
11.507 |
|
|
Sundry Debtors |
31.452
|
31.103 |
32.247 |
|
|
Cash & Bank Balances |
6.219
|
5.523 |
4.970 |
|
|
Loans & Advances |
19.455
|
17.196 |
15.969 |
|
Total
Current Assets |
83.563
|
78.759 |
64.693 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
12.293
|
11.634 |
11.424 |
|
|
Provisions |
8.281
|
0.389 |
5.462 |
|
Total
Current Liabilities |
20.574
|
12.023 |
16.886 |
|
|
Net Current Assets |
62.989
|
66.736 |
47.807 |
|
|
|
|
|
|
|
|
TOTAL |
70.271 |
74.666 |
54.508 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
|
Sales Turnover |
163.412 |
186.832 |
128.096 |
|
|
Other Income |
0.000 |
0.000 |
4.264 |
|
|
Total Income |
163.412 |
186.832 |
132.360 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
11.129 |
5.624 |
1.024 |
|
|
Provision for Taxation |
0.000 |
0.000 |
0.351 |
|
|
Profit/(Loss) After Tax |
11.129 |
5.624 |
0.673 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Manufacturing Expenses |
NA |
NA |
27.621 |
|
|
Administrative Expenses |
NA |
NA |
6.073 |
|
|
Raw Material Consumed |
NA |
NA |
92.730 |
|
|
Employees Remuneration |
NA |
NA |
1.473 |
|
|
Finance Expenses |
NA |
NA |
2.239 |
|
|
Interest |
2.376 |
2.794 |
NA |
|
|
Depreciation & Amortization |
1.595 |
1.380 |
1.199 |
|
|
Other Expenditure |
148.311 |
177.033 |
NA |
|
Total Expenditure |
152.282 |
181.207 |
131.336 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
(%) |
6.81
|
3.01 |
0.50 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.81
|
3.01 |
0.80 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.25
|
6.48 |
1.42 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26
|
0.14 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.12
|
1.16 |
1.21 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.06
|
6.55 |
3.83 |
LOCAL AGENCY FURTHER INFORMATION
Fixed assets:
- Land
- Residential building
- Office premises
- Air conditioner
- Factory building
- Plant and machinery
- Electrical fitting
- Motor vehicles
- Cycle
- Furniture and fixtures
- Office equipments
- Facsimile machine
- Cellular phone
- Computer
|
Name of the company |
RAMPRA STEEL INDUSTRIAL PRIVATE LIMITED |
||||||||||||||||||||||||||||||||||||||||||
|
Presented By |
Canara Bank, Fort
( |
||||||||||||||||||||||||||||||||||||||||||
|
1) Date and description of instrument creating the change |
Agreement of cash
credit dated 28.00.1980 |
||||||||||||||||||||||||||||||||||||||||||
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 0.200
millions |
||||||||||||||||||||||||||||||||||||||||||
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Hypothecation of
raw materials, work – in – process, finished goods, of the company as well as
book debt both present and future. |
||||||||||||||||||||||||||||||||||||||||||
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of interest
8.75% p. a. ORBI with minimum of 20.75%p. a. compounded quarterly |
||||||||||||||||||||||||||||||||||||||||||
|
5) Name and Address and description of the person entitled to the charge. |
Canara Bank, Fort ( P M Road, Mumbai – 400 001 |
||||||||||||||||||||||||||||||||||||||||||
|
6) Date and brief description of instrument modifying the charge |
Supplemental
common hypothecation agreement dated 24.05.2005 |
||||||||||||||||||||||||||||||||||||||||||
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Now vide above
referred agreement dated 24.05.2006 various credit facilityies granted by the
bank increased from Rs 24.000 million to Rs 42.5000 millions to secure the
following limits
The security by way
of hypothecation by primary security of stocks, receivables, book debts etc.
and by collateral security of plant and machinery, furniture and fixtures,
etc. more particularly described in annexure II to the supplemental common
hypothecation agreement given earlier shall be extended to secure the
enhanced limits |
|
Corporate
identity number (CIN) Foreign company registration number |
U31300MH1972PTC015992 |
|
Name of the
Company |
RAMPRA STEEL INDUSTRIAL PRIVATE LIMITED |
|
Address |
A -11, Shriram Industrial Estate, Near Wadala Telephone Exchange,
Mumbai 400 031, |
|
This form is for |
Modification of
charge |
|
Type of Charge |
Immovable
property, book debt, movable property (not being pledge), others, stock, goods
purchase, under DALC |
|
Particulars of
the charge holder |
Canara Bank, Fort
( |
|
Amount secured by
the charge |
Rs. 47.500
millions |
|
Brief of the
principal terms and conditions |
Rate of interest: OCC @ BPLR – 1% i. e. 11.50% p. a. Term of repayment: On demand, being working capital limits Margin: OCC 25%, ODBD 40%, PC 10%, FLC /GTEE 25% Extent and operation of the charge: The amount secured by charge increased from Rs. 47.500 millions.
Secured of stock, book debts etc. given earlier shall continue for the
enhance limit. |
|
Description of
the property charged indicating |
|
|
Charge
identification |
|
|
Brif description
of the instrument modifying the charge under section |
Supplemental common hypothecation agreement (SCHA) daed 22.03.2007 |
|
Date of
Instrument |
22.03.2007 |
|
Particular of the
present modification |
Now vide this
modification. Various limit granted bye
the bank increases from Rs. 42.500 millions described in annexure I to SCHA.
Security of stock, book debts including goods purchased under DALC etc. given
earlier shall continue for the enhance limit. |
As Per Website:
Subject is, one of the oldest
Bright Steel Bar manufacturing companies in
manufacture Bright Bars in various grades of Stainless, Carbon, Alloy and Free-Cutting Steel. Their plant is located at Badlapur, 60 kms from Mumbai. They have an installed capacity of 24000 metric tonnes for making BRIGHT BARS, which suit a variety of, industrial & non industrial applications. They have an extremely wide range of products including 'Rounds', 'Square', 'Hex' and 'Flats' in various Grades and Sizes to suit most applications,withtolerances and specifications which measure up to Quality Standards in over 45 countries around the globe.In addition, they specialize in the development & manufacturing of Pump Shafts and specialized Profile Bars in various sections. Their products are exported to a large number of countries. Hardened and Tempered Alloy Steel Bars and Strain Hardened Bars are some of their other specialty products. They supply Bright Steel Bars as per the most stringent tolerances of 'Original Equipment Manufacturers' (OEM) as well as ASTM, DIN, JIS, BS & IS standards. 'Job perfection' and 'Punctuality' is an ingrained attribute in every one of the 150 employees at RAMPRA. It forms an essential part of their Work Ethic program.
Product range:
- Rounds
- Cold Drawn
- Cold Drawn & Ground
- Peeled & Polished
- Peeled & Ground
- Cold Drawn
- Cold Drawn
- Cold
Drawn
Exports:
RAMPRA products
have been exported in most grades and strictest tolerances to 45 plus countries
around the globe. 'PUMP SHAFTS’ in
Carbon & Stainless Steel and ‘Profile bars’ of various customized sections are just some of their
specialty items. ‘Hardened’ and ‘Tempered’ Bars for High Temperature and High Pressure
applications as well as Strain hardened
Stainless Steels can be effectively developed manufactured and supplied
by them.
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.40.46 |
|
|
1 |
Rs.81.55 |
|
Euro |
1 |
Rs.55.09 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
49 |
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 |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|