MIRA
INFORM REPORT
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Report Date : |
07.05.2007 |
IDENTIFICATION DETAILS
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Name : |
RAJSHRI PACKAGERS LIMITED |
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Registered Office : |
Survey No.5(P) and 7(P), Baikampady Industrial Area, Mangalore-574011,
Karnataka |
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Country : |
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Financials (as on) : |
31.03.2003 |
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Date of Incorporation : |
26.07.1995 |
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Com. Reg. No.: |
18383 |
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CIN No.: [Company
Identification No.] |
U51495KA1995PLC018383 |
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IEC No.: |
New management from 19.04.2005 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRR03150A |
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Legal Form : |
A Closely held Public Limited Liability Company |
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Line of Business : |
Manufacturer and Trader of Edible Oil. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 220000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
The company is no more working at 19-5-15/6/7, It shifted to 1-8-663, Azmabad Industrial Area, Hyderabad-500020. (Tel. No.: 91-40-27663364, 27663397) Due to change in the management, the company has become irregular in
various statutory compliances. Hence, we are trying to seek financials from
company management and if available, shall supplement soon. The company appears to have moderate track. Financial position can be
moderate. Payments are reported as slow. Your proposed business dealings can be considered for small to mediocre
business dealings at usual trade terms and conditions. |
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LOCATIONS
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Registered Office/ Factory : |
Survey No.5(P) and 7(P), Baikampady Industrial Area, Mangalore-574011,
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Area : |
Owned |
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Head Office : |
19-5-15/6/7, |
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Area : |
Owned (Large – On 5 acres of land) |
DIRECTORS
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Name : |
Mr. Kailash Chandra Agarwal |
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Designation : |
Director |
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Name : |
Mr. Subhash Chandra Agarwal |
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Designation : |
Director |
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Name : |
Mr. Vinod Kumar Agarwal |
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Designation : |
Director |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Trader of Edible Oil. |
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Products : |
v
Palm Oil v
S F Oil v
Acid Oil |
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Imports : |
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Products : |
Crude Palm Oil |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit (30 days) |
GENERAL INFORMATION
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No. of Employees : |
150 (In Office 20, In Factory 130) |
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Bankers : |
v
State Bank of v
State Bank of v
State Bank of |
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Facilities : |
The concern enjoys Non fund based limit of Rs.350.000 millions and
Fund Based Rs.150.000 millions from this consortium of three banks. |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
A K Bhandari & Associates Chartered Accountants |
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Associates/Subsidiaries : |
Good Health Agrotech Private Limited, Line of Business : Edible oil refining and Trading Nikhil Refineries Private Limited, Line of Business : Edible oil refining and Trading Amit Cottons Private Limited, Line of Business : Cotton Ginning and Pressing KGF Cottons Private Limited, Line of Business : Cotton Ginning and Pressing |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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8000000 |
Equity Shares |
Rs.10/- each |
Rs.80.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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Not Available |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
Financials :
Mr. Srinivas of the company assured to provide latest financials.
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Particulars |
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31.03.2007 (Estimated) |
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Sales Turnover |
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3250.000 |
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2003 |
31.03.2002 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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58.612 |
37.427 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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0.000 |
0.000 |
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4] (Accumulated Losses) |
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(2.606) |
(4.554) |
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NETWORTH |
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56.006 |
32.873 |
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LOAN FUNDS |
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1] Secured Loans |
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63.500 |
56.000 |
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2] Unsecured Loans |
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6.035 |
12.123 |
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TOTAL BORROWING |
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69.535 |
68.123 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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125.541 |
100.996 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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223.552 |
149.631 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.015 |
0.015 |
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DEFERREX TAX ASSETS |
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1.458 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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Sundry Debtors |
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Cash & Bank Balances |
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191.820 |
11.899 |
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Other Current Assets |
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Loans & Advances |
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Total
Current Assets |
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191.820 |
11.899 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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60.549 |
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Provisions |
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Total
Current Liabilities |
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291.304 |
60.549 |
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Net Current Assets |
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(99.484) |
(48.650) |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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125.541 |
100.996 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2003 |
31.03.2002 |
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Total Income |
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581.563 |
3.160 |
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Profit/(Loss) Before Tax |
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0.490 |
(4.554) |
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Provision for Taxation |
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0.176 |
0.000 |
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Profit/(Loss) After Tax |
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0.314 |
(4.554) |
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Expenditures : |
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Salaries, Wages, Bonus, etc. |
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2.222 |
0.184 |
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Interest |
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11.107 |
1.365 |
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Other Expenditure |
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567.744 |
6.165 |
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Total Expenditure |
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581.073 |
7.714 |
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KEY RATIOS
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PARTICULARS |
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31.03.2003 |
31.03.2002 |
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PAT / Total Income |
(%) |
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0.05 |
(144.12) |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.08 |
(144.12) |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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0.12 |
(2.82) |
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Return on Investment (ROI) (PBT/Networth) |
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0.01 |
(0.14) |
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Debt Equity Ratio (Total Liability/Networth) |
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6.44 |
3.91 |
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Current Ratio (Current Asset/Current Liability) |
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0.66 |
0.20 |
LOCAL AGENCY FURTHER INFORMATION
Trade References :
v Vilmar Trading Pty Limited,
v Kuok Oils and Grains Pte. Limited,
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.40.78 |
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1 |
Rs.81.34 |
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Euro |
1 |
Rs.55.53 |
RATING EXPLANATIONS
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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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