MIRA
INFORM REPORT
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Report Date : |
27.11.2007 |
IDENTIFICATION
DETAILS
|
Name : |
REKHA COPPER AND
ALLOY PRIVATE LIMITED |
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Formerly Known As : |
REKHA COPPER AND
COPPER ALLOY PRIVATE LIMITED |
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Registered Office : |
11/E, Megha Park,
Near Tribhuivan Park, On Harinagar Water Tank Road, Vadodara – 390 015,
Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
24.02.2005 |
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Com. Reg. No.: |
04-45558 |
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CIN No.: [Company
Identification No.] |
U27201GJ2005PTC045558 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BRDR01420G |
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PAN No.: [Permanent
Account No.] |
AACCR9552M |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Manufacturing and export of electrical
brass, copper, Manganese material products and Parts. |
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 10000 |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an establish company having moderate track. Payments are
slow but correct. Financial position
is moderate. The company can be considered for small to mediocre business dealings at
usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
11/E, Megha Park,
Near Tribhuivan Park, On Harinagar Water Tank Road, Vadodara – 390 015,
Gujarat, India. |
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Tel. No.: |
91-265-5507507/ 6507508 |
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Mobile No.: |
91-9426416461 |
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Fax No.: |
91-265-2250244 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr. Jadavjibhai
Ajudja |
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Designation : |
Director |
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Address : |
11/E, Megha Park,
Near Tribhuivan Park, On Harinagar Water Tank Road, Vadodara – 390 015,
Gujarat, India. |
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Date of Birth : |
27.07.1951 |
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Date of Appointment : |
24.02.2005 |
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Name : |
Mr. Rekha
Ajudia |
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Designation : |
Director |
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Address : |
11/E, Megha Park,
Near Tribhuivan Park, On Harinagar Water Tank Road, Vadodara – 390 015,
Gujarat, India. |
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Date of Birth : |
20.03.1978 |
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Date of Appointment : |
24.02.2005 |
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Name : |
Mrs. Jayeshkumar Ajudia |
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Designation : |
Director |
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Address : |
11/E, Megha Park,
Near Tribhuivan Park, On Harinagar Water Tank Road, Vadodara – 390 015,
Gujarat, India. |
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Date of Birth : |
30.08.1974 |
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Date of Appointment : |
24.02.2005 |
KEY EXECUTIVES
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Name : |
S Samdani & Associates |
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Designation : |
Company Secretary |
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Address : |
103, Tanishq, Opposite SBI Urmi Branch, Productivity Road,
Vadodara-390020, Gujarat |
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Tel. No.: |
91-265-2330583/ 2321494 |
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E-Mail : |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
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No. of Shares |
|
Jayeshkumar Ajudia |
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193500 |
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Jadavaji Bhai Ajudia |
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3500 |
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Rekhaben Ajudia |
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3000 |
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Total |
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200000 |
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Equity Share
Breakup |
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Percentage of
Holding |
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Directors of relatives of directors |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing and export of electrical
brass, copper, Manganese material products and Parts. |
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Products : |
Electrical Brass, Copper, Manganese parts for HT & LT switchgear product, Energy Meter's Terminal & Terminal Screw, Sealing Screw for Energy Meter, Transformer’s parts, Electrical grade brass sheets, Neutral & Earthing Links, Industrial Plug & Socket's Terminal & Terminal Screw, Copper Solid Rod, Copper Flat Rod etc. |
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Exports : |
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Countries : |
South Africa, Europe, China and USA |
GENERAL
INFORMATION
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Bankers : |
Andhra Bank,
Akota Branch Shrenik Park Char Rasta, Akota, Vadodara – 390 020, Gujarat,
India. |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
K. A. Shah and Company Chartered Accountants |
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Address : |
109, “CITADEL”, Windsor Plaza – Citadel Complex, R. C. Dutt Road,
Vadodara – 390007, Gujarat, India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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2.000 |
2.000 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
|
0.660 |
0.199 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
|
2.660 |
2.199 |
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LOAN FUNDS |
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1] Secured Loans |
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2.451 |
0.000 |
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2] Unsecured Loans |
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0.000 |
0.000 |
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TOTAL BORROWING |
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2.451 |
0.000 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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5.111 |
2.199 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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1.071 |
0.118 |
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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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0.084 |
0.084 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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6.502 |
4.404 |
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Sundry Debtors |
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0.635 |
0.000 |
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Cash & Bank Balances |
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0.708 |
0.490 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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0.952 |
0.684 |
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Total
Current Assets |
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8.797 |
5.578 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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4.594 |
3.503 |
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Provisions |
|
0.291 |
0.127 |
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Total
Current Liabilities |
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4.885 |
3.630 |
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Net Current Assets |
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3.912 |
1.948 |
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MISCELLANEOUS EXPENSES |
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0.044 |
0.049 |
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TOTAL |
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5.111 |
2.199 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
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Sales and Other Income |
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7.103 |
3.468 |
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Total Income |
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7.103 |
3.468 |
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Profit/(Loss) Before Tax |
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0.722 |
0.305 |
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Provision for Taxation |
|
0.261 |
0.106 |
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Profit/(Loss) After Tax |
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0.461 |
0.199 |
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Expenditures : |
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Depreciation & Amortization |
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0.238 |
0.002 |
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Other Expenditure |
|
6.143 |
3.159 |
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Total Expenditure |
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6.381 |
3.161 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
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6.49 |
5.74 |
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Net Profit Margin (PBT/Sales) |
(%) |
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10.16 |
8.79 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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38.65 |
5.35 |
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Return on Investment (ROI) (PBT/Networth) |
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0.27 |
0.14 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.75 |
1.65 |
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Current Ratio (Current Asset/Current Liability) |
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0.16 |
1.54 |
LOCAL AGENCY
FURTHER INFORMATION
Business
To carry on the business
of manufacturing, Trading, Import, Export and to deal in all types of Copper,
Copper Alloy and its part, HT/LT swichgear parts and equipment, manganese and
manganese related parts and equipment, Brass parts and equipment and to
establish, own run and carry on the business of manufacturers, processors,
traders, importers, exporters, designers, fabricators, distributors, suppliers,
brokers, stockiests, metallurgists or otherwise deal in all kind of brass
parts, brass and copper electrical wiring and its accessories, sanitary fitting
made of brass, copper or any other metal made of ferrous or non ferrous
materials and/or its combination with plastics, fibre, aluminium or any other
metal made of ferrous or non ferrous materials and/or its combination with
plastics, fibre, aluminium or any other material and deal in metal products of
all kind and uses, whether made of ferrous or non ferrous materials.
Bankers Charges
Report as per Registry
|
Name of the company |
REKHA COPPER
& COPPER ALLOY PRIVATE LIMITED |
|
Presented
By |
REKHA COPPER
& COPPER ALLOY PRIVATE LIMITED |
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1) Date and description of instrument creating the change |
Hypothecation of
Agreement Dated 08.05.2006 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 6.800 Millions |
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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 All Stock in Trade, Movable Plant & Machinery, Book Debts and Vehicles. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interest: At 3% PLR
Minimum: 14.5% Margin Stock (P.C): 10% FBD NIL ILC: 50% |
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5) Name and Address and description of the person entitled to the charge. |
Andhra Bank,
Akota Branch Shrenik Park Char Rasta, Akota, Vadodara – 390 020, Gujarat,
India. |
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6) Date and brief description of instrument modifying the charge |
Not Applicable |
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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. |
Not Applicable |
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Corporate
identity number of the company |
U27201GJ2005PTC045558 |
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Name of the
company |
REKHA COPPER
& ALLOY PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
11/E, Megha Park,
Near Tribhuivan Park, On Harinagar Water Tank Road, Vadodara – 390 015,
Gujarat |
|
This form is for |
Creation of
charge |
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Type of charge |
Hypothecation |
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Particular of
charge holder |
Andhra Bank,
Akota Branch Shrenik Park Char Rasta, Akota, Baroda – 390 020, Gujarat, India |
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Nature of
instrument creating charge |
Composite
Agreement |
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Date of
instrument Creating the charge |
08.05.2006 |
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Amount secured by
the charge |
Rs. 6.800
Millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Interest at 3 %
above bank PLR minimum 14.5 % margin stock [P.C.] 10 % FBD Nil ILC 50 % |
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Description of
the property charged indicating whether it is a charged on |
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Particulars of
the property charged |
All stock in
trade, movable plant and machinery book debt, vehicles |
AS PER WEBSITE:
Profile
ISO 9002 Company
They are most reputed manufacturers and exporters of Electrical brass / Copper / Manganese / Aluminium components and Brass Hardware Accessories, In Electrical Brass Parts LT/HT Switchgear Brass / Copper / Manganese / Aluminium Parts, Domestic Electrical Brass and Copper Parts, Earthing Equipments, Lightning Protection Systems, Copper / Brass / Manganese / Aluminium and other Ferrous & Non Ferrous Metals, Brass / Copper / Manganese / Aluminium Rod, Pipe, Tube and different shape / Profile
Specialist In COPPER CATHODE, ELECTROLYTIC COPPER WIRE
'Electrical Brass/Copper/Manganese Parts is successfully exporting products All
Over World's 36.
BRASS,COPPER,MANGANESE MATERIAL ' products completely with International
Standards. All the products have good potential all over the world. Quality
assurance is of prime importance to us and therefore only high quality products
are manufactured in accordance with International Standards and Specifications
by adopting latest technology.
With their large production capacity, they can fulfill
the requirements of any of the items within short period. Customers
requirements is extremely important to us. Hence, great emphasis is put on the
Standard and quality for total satisfaction. As manufacturing of the products
is done with High skill and technique, hence their products have an air of
unmatched perfection to them.
They are an ISO 9001 certified company engaged in the manufacturing and export of electrical brass, copper, Manganese material products and Parts. Since their inception in 1997 they have gained the expertise to manufacture a wide range of products like Electrical Brass, Copper, Manganese parts for HT & LT switchgear product, Energy Meter's Terminal & Terminal Screw, Sealing Screw for Energy Meter, Transformer’s parts, Electrical grade brass sheets, Neutral & Earthing Links, Industrial Plug & Socket's Terminal & Terminal Screw, Copper Solid Rod, Copper Flat Rod etc. At Rekha Copper & Copper Alloy, they are committed towards providing their customers world class quality products at highly reasonable prices and with excellent after sales services. And it's no wonder that today they are regarded as one of the premier names involved in this segment exporting their products to some of the major countries of the world.
Subject never compromise on quality. Quality is of prime importance to us and therefore only high quality products are manufactured in accordance with International Standards and Specifications by adopting latest technology.
With their large production capacity, they can fulfill the
requirements of any of the items within short period. Customers requirements
are extremely important to us. Hence, great emphasis is put on the standard and
quality for total satisfaction. As the manufacturing of the products are done
with high skill and technique, hence their products have an air of unmatched
perfection to them.
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.39.68 |
|
UK Pound |
1 |
Rs.81.95 |
|
Euro |
1 |
Rs.58.79 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
35 |
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 |
|