MIRA
INFORM REPORT
|
Report Date : |
26.06.2007 |
IDENTIFICATION DETAILS
|
Name : |
RBA EXPORTS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
Suite No.606, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2006 |
|
|
|
|
Date of Incorporation : |
11.08.1989 |
|
|
|
|
Com. Reg. No.: |
21-47383 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U27109WB1989PTC047383 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Founders of Ferrous and Non- Ferrous Metals. |
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 99000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established and reputed company having satisfactory
track records. Directors are reported as experienced 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 : |
606, |
|
Tel. No.: |
91-33-24858750/ 51/ 52 |
|
Mobile No.: |
91-9840989002 |
|
Fax No.: |
91-33-24858749 |
|
E-Mail : |
arun@rbagarwalla.com, nagarwal@rbagarwalla.com, rba@rbagarwalla.com |
DIRECTORS
|
Name : |
Mr. Navneet Agarwal |
|
Designation : |
Director |
|
Address : |
Flat No.3A, 111, Southern Avenue, Kolkata-700029, West |
|
Date of Birth/Age : |
04.10.1973 |
|
Date of Appointment : |
13.04.2004 |
|
|
|
|
Name : |
Mr. Bishwanath Agarwal |
|
Designation : |
Director |
|
Address : |
Flat No.3A, 3rd Floor, 111, Southern Avenue,
Kolkata-700029, West |
|
Date of Birth/Age : |
13.03.1951 |
|
Date of Appointment : |
28.07.2005 |
|
|
|
|
Name : |
Mr. Shyam Sundar Agarwal |
|
Designation : |
Director |
|
Address : |
29, |
|
Date of Birth/Age : |
29.09.1952 |
|
Date of Appointment : |
26.09.2005 |
|
|
|
|
Name : |
Mr. Harshvardhan Agarwal |
|
Designation : |
Director |
|
Address : |
10, |
|
Date of Birth/Age : |
24.08.1980 |
|
Date of Appointment : |
13.04.2004 |
|
|
|
|
Name : |
Mr. Omprakash Agarwal |
|
Designation : |
Director |
|
Address : |
10, |
|
Date of Birth/Age : |
02.08.1954 |
|
Date of Appointment : |
01.03.1992 |
|
|
|
|
Name : |
Mr. Babulal Agarwal |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
M/s. P K Panda and Company |
|
Designation : |
Company Secretary |
|
Address : |
7 / 1B, |
|
Tel No.: |
91-33-22258969 |
|
Mobile No.: |
91-9830571534 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
|
Names of Shareholders |
No. of Shares |
|
Mr. Abhinav Agarwal |
40400 |
|
Mr. Babulal Agarwal |
15020 |
|
Mr. Manoj Agarwal |
67000 |
|
Mr. Omprakash Agarwal |
1020 |
|
Names of Shareholders |
No. of Shares |
|
Bishwanath Agarwal & Sons HUF |
335000 |
|
Navneet Agarwal HUF |
675000 |
|
Mr. Bishwanath Agarwal |
1100000 |
|
Mr. Navneet Agarwal |
390000 |
|
|
470000 |
|
Mr. |
530000 |
|
Mr. Harshvardhan Agarwal |
1500000 |
|
Total |
5000000 |
|
Category |
|
Percentage of
Holding |
|
Directors or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Founders of Ferrous and Non- Ferrous Metals. |
|
|
|
|
Products : |
Commission Agents |
GENERAL INFORMATION
|
Bankers : |
Citi Bank, Kolkata (Account No.0272564337) Bank of |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
Mr. Jinesh Jain Chartered Accountants |
|
Address : |
5, |
|
Tel No.: |
91-33-22105145, 22300823 |
|
Fax No.: |
91-33-22311524 |
|
E-Mail: |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000000 |
Equity Shares |
Rs.10.00 each |
Rs.100.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
123440 |
Equity Shares |
Rs.10.00
each |
Rs.1.234
millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
1.234 |
1.234 |
|
|
2] Share Application Money |
|
23.650 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.034 |
0.061 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
24.918 |
1.295 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
24.918 |
1.295 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
6.583 |
0.000 |
|
|
Capital work-in-progress |
|
6.695 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
0.000 |
0.000 |
|
|
Sundry Debtors |
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
|
0.138 |
1.281 |
|
|
Other Current Assets |
|
1.092 |
0.000 |
|
|
Loans & Advances |
|
11.115 |
0.032 |
|
Total
Current Assets |
|
12.345 |
1.313 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
0.678 |
0.003 |
|
|
Provisions |
|
0.027 |
0.015 |
|
Total
Current Liabilities |
|
5 |
0.018 |
|
|
Net Current Assets |
|
11.640 |
1.295 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
24.918 |
1.295 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
|
Sales Turnover |
|
0.000 |
0.207 |
|
Other Income |
|
0.002 |
0.000 |
|
Dividend |
|
0.016 |
0.000 |
|
Total Income |
|
0.018 |
0.207 |
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
0.009 |
0.003 |
|
Provision for Taxation |
|
0.025 |
0.001 |
|
Profit/(Loss) After Tax |
|
(0.016) |
0.002 |
|
|
|
|
|
|
Total Expenditure |
|
0.009 |
0.204 |
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
|
88.89 |
0.97 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
NA |
1.45 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
0.05 |
0.23 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
0.03 |
0.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
17.53 |
77.23 |
LOCAL AGENCY FURTHER INFORMATION
Form 8 Particular for
creation or modification of charges
|
Corporation identity number or foreign company registrations number of the company |
U27109WB1989PTC047383 |
|
Name of the company |
RBA EXPORTS PRIVATE LIMITED |
|
Address |
606, |
|
This Form is for |
Creation of charge |
|
Type of Charges |
Book debts Movable property |
|
Particular of the charge holder |
Bank of |
|
Nature or description of the instrument creating charge |
Hypothecation of movables, plant and machinery, stocks and book debts dated
30.03.2007. 56-61 EPIP, SIPCOT Industrial Estate, Gummiddipundi, Thiruvellore,
Tamilnadu-601201, |
|
Date of the instrument creating charge |
30.03.2007 |
|
Amount Secure by the charge |
Rs.80.000 millions |
|
Brief of the principal terms and conditions and extent and operation of the charge |
Rate of interest : Term loan – 0.50% below BPLR; Min 12.00% (Floating monthly rests). Cash Credit : 0.50% below BPLR; Min 12.00% (Floating monthly rest). Export packing credit : 9.00% upto 180 days. 12.75% beyond 180 days
270 days. At commercial rate as applicable to credit rating beyond 270 days FBP –DP/DA 180 days – 9.00% on demand bills fro transit period and
usance bills upto 90 days 12.25% beyond 90 days upto 6 months from the date
of shipment. Terms of repayment : Limit Rs.70.000 millions repayment 20 quarterly installments
commencing from April, 2007. Margin : Term Loan : 30% Cash credit 25% Export packing credit 25% FBP-DP/DA 180 days 25% Extent and operation of the charge : First charge |
|
Particulars of the Property charged |
Hypothecation cum loan agreement (Plant and machinery, stocks and book
debts) –IFD- X. |
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.40.81 |
|
|
1 |
Rs.81.57 |
|
Euro |
1 |
Rs.54.63 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--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 |
|
46 |
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 |
|