MIRA
INFORM REPORT
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Report Date : |
24.10.2007 |
IDENTIFICATION DETAILS
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Name : |
ROLLWELL CONVEYOR COMPONENTS PRIVATE LIMITED |
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Registered Office : |
60, IDA, Tumkunta, Sugour,
Sadalapally, Hindupur - 515211, Anantapur, Andhra Pradesh |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
18.12.1987 |
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Com. Reg. No.: |
01-8092 |
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CIN No.: [Company
Identification No.] |
U29219AP1987PTC008092 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRR00447G |
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PAN No.: [Permanent
Account No.] |
AABCR0514J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of conveyors and conveyor components like idlers, pulleys
etc. |
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 48000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory track. Trade
relations are fair. Financial position is good. Payments are usually correct
and as per commitments. The company can be considered good for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office / Factory : |
60, IDA, Tumkunta, Sugour,
Sadalapally, Hindupur - 515211, Anantapur, |
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Tel. No.: |
91-8556-237424 |
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E-Mail : |
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Website : |
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Head Office : |
21D, 2nd Phase, Peenya Industrial Area, |
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Marketing Office : |
113, |
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Tel. No.: |
91-22-28741124 / 28768457 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Tarachand Goyal |
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Designation : |
Chairman |
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Address : |
2/1, 7th Cross, |
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Date of Birth/Age : |
08.06.1949 |
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Date of Appointment : |
19.09.1996 |
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Name : |
Mr. Parveen Goyal |
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Designation : |
Director |
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Address : |
2/1, 7th Cross, |
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Date of Birth/Age : |
28.09.1973 |
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Date of Appointment : |
19.09.1996 |
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Name : |
Mr. Suresh Jain |
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Designation : |
Director |
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Address : |
A – 11, Krishna Leela, Bangur Nagar, Goregaon [West], Mumbai – 400090,
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Date of Birth/Age : |
26.02.1949 |
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Date of Appointment : |
01.11.2002 |
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Name : |
Mr. Avinash Goyal |
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Designation : |
Director |
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Address : |
2/1, 7th Cross, |
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Date of Birth/Age : |
20.04.1977 |
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Date of Appointment : |
01.11.2004 |
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Name : |
Mr. Nishant Jain |
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Designation : |
Director |
KEY EXECUTIVES
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Name : |
V Murali and Company |
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Designation : |
Company Secretary |
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Address : |
No. 41, Out House, Ground Floor, Bull Temple Road, Basavanagudi,
Bangalore – 560004, Karnataka, India |
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Tel. No.: |
91-80-26670417 |
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E-Mail : |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Vimmi Goyal |
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1000 |
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Parveen Goyal |
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2500 |
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Naneen Goyal |
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6000 |
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T C Goyal |
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10500 |
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Kavita Goyal |
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1500 |
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Avinash Goyal |
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2000 |
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Gunjan Goyal |
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1500 |
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S C Jain |
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15000 |
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Nishant Jain |
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10000 |
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Total |
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50000 |
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Equity Share
Breakup |
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Category |
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Percentage of
Holding |
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Bodies corporate |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of conveyors and conveyor components like idlers, pulleys
etc. |
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Products : |
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Exports : |
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Countries : |
Middle East, Africa, Europe and |
PRODUCTION STATUS
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Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
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Rollers |
Nos |
80000 |
90000 |
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Fabrications |
M.T. |
300 |
400 |
GENERAL INFORMATION
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No. of Employees : |
About 150 |
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Bankers : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
P K Rungta and Company Chartered Accountants |
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Address : |
D – 1, Jyothi Complex, |
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Tel. No.: |
91-80-22863074 / 22864890 |
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Fax No.: |
91-80-22866929 |
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E-Mail : |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50,000 |
Equity Shares |
Rs. 100/- each |
Rs. 5.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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50,000 |
Equity Shares |
Rs. 100/- each |
Rs. 5.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
5.000 |
5.000 |
4.800 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
6.974 |
3.119 |
0.845 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
11.974 |
8.119 |
5.645 |
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LOAN FUNDS |
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1] Secured Loans |
15.245 |
7.571 |
8.384 |
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2] Unsecured Loans |
0.000 |
1.466 |
3.315 |
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TOTAL BORROWING |
15.245 |
9.037 |
11.699 |
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DEFERRED TAX LIABILITIES |
0.600 |
0.696 |
0.037 |
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TOTAL |
27.819 |
17.852 |
17.381 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
6.865 |
5.906 |
3.721 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.001 |
0.001 |
0.001 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
21.077
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13.123 |
10.517 |
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Sundry Debtors |
10.158
|
9.927 |
6.917 |
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Cash & Bank Balances |
4.480
|
0.299 |
0.118 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
8.848
|
1.689 |
0.532 |
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Total
Current Assets |
44.563
|
25.038 |
18.084 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
21.446
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12.040 |
4.010 |
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Provisions |
2.201
|
1.103 |
0.415 |
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Total
Current Liabilities |
23.647
|
13.143 |
4.425 |
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Net Current Assets |
20.916
|
11.895 |
13.659 |
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MISCELLANEOUS EXPENSES |
0.037 |
0.050 |
0.000 |
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TOTAL |
27.819 |
17.852 |
17.381 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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Sales Turnover |
94.338 |
61.557 |
29.291 |
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Other Income |
0.529 |
0.025 |
0.042 |
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Total Income |
94.867 |
61.582 |
29.333 |
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Profit/(Loss) Before Tax |
3.855 |
4.118 |
3.764 |
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Provision for Taxation |
0.000 |
1.844 |
0.276 |
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Profit/(Loss) After Tax |
3.855 |
2.274 |
3.488 |
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Earnings in Foreign Currency : |
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Total Earnings |
4.612 |
0.227 |
Nil |
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Imports : |
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Total Imports |
0.840 |
0.523 |
Nil |
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Expenditures : |
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Increase/(Decrease) in Finished Goods |
[0.862] |
[1.701] |
1.058 |
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Manufacturing Expenses |
0.000 |
52.993 |
18.291 |
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Administrative and Selling Expenses |
0.000 |
4.667 |
2.518 |
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Trading purchases |
0.000 |
0.000 |
1.827 |
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Interest |
1.450 |
1.090 |
1.497 |
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Depreciation & Amortization |
0.000 |
0.404 |
0.377 |
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Other Expenditure |
90.424 |
0.011 |
0.000 |
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Total Expenditure |
91.012 |
57.464 |
25.568 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
31.03.2004 |
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PAT / Total Income |
(%) |
4.06
|
3.69 |
11.89 |
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Net Profit Margin (PBT/Sales) |
(%) |
4.09
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6.69 |
12.85 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
7.50
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13.31 |
17.26 |
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Return on Investment (ROI) (PBT/Networth) |
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0.32
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0.51 |
0.67 |
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Debt Equity Ratio (Total Liability/Networth) |
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3.25
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2.73 |
2.86 |
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Current Ratio (Current Asset/Current Liability) |
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1.88
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1.91 |
4.09 |
LOCAL AGENCY FURTHER INFORMATION
Fixed Assets
- Land
- Building
- Plant and
Machinery
- Furniture and
Fixture
- Office
Equipments
- Vehicles
- Computer
Bankers Charges
Report as per Registry
|
Name of the company |
ROLLWELL
CONVEYOR COMPONENTS PRIVATE LIMITED |
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Presented By |
Mr. Parveen
Goyal, Director |
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1) Date and description of instrument creating the change |
Agreement of
Hypothecation dated 16.03.1994 |
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2) Amount secured by the charge/amount owing on the securities of charge |
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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
Stocks and receivable and 2nd Charge on Plant and Machinery |
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4) Gist of the terms and conditions and extent and operation of the charge. |
As per sanction
letter No. 1457-1-82 dated 27.05.1993 |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of |
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6) Date and brief description of instrument modifying the charge |
Present
Modification Letter of
Hypothecation / Pledge for Machines Charged to Bank Supplemental
general agreement for the grant of Small Industrial Advances and
Hypothecation of Goods, Book debts movable and other assets. Agreement for the
grant of Small Industrial Advances – Letter of Credit, Guarantee and
Indemnities. The enhanced
limit on modification are as follows
Total : Rs. 20.000 Millions |
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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. |
Letter of
Agreement dated 09.06.2005 for the enhancement of working capital limit form
Rs. 11.000 Millions to Rs. 20.000 Millions All other
securities remain unchanged. Terms as per
sanction letter dated 09.06.2005 |
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This form is for |
Modification of
charge |
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Charge
identification number of the charge to be modified |
10034390 |
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Corporate
identity number of the company |
U29219AP1987PTC008092 |
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Name of the
company |
ROLLWELL CONVEYOR COMPONENTS PRIVATE LIMITED |
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Address of the registered
office or of the principal place of
business in |
60, IDA, Tumkunta, Sugour,
Sadalapally, Hindupur - 515211, Anantapur, |
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Type of charge |
Immovable Property |
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Particular of
charge holder |
State Bank of India, Peenya Industrial Estate Branch, B – 96, Ii
Cross, 1 Stage, Peenya Industrial Estate, Bangalore – 560058, Karnataka,
India |
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Nature of
description of the instrument creating or modifying the charge |
Both the
documents relate to the same modification
|
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Date of
instrument Creating the charge |
23.08.2007 |
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Amount secured by
the charge |
Rs. 83.000
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As Applicable Terms of
repayment Repayable on
demand Margin As Applicable Extent operation
of the charge Charge Extends on
all the aforesaid assets throughout the period of sanctioned limits by way of
first charge. |
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Short particulars
of the property charged |
Extn of EM on companies
immovable properties situated at Plot No. 60, Sy No. 107/1 to 9, IDA,
Thumakunta, Hindupur – 515211 Measuring about 14800 sq. mtrs belonging to the
company towards various credit facilities offered by the Bank. |
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Date of latest
modification prior to the present modification |
29.12.2006 |
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Particulars of
the present modification |
Total limits
unchanged. Extn of EM on companies immovable properties situated at Plot No.
60, Sy No. 107/1 to 9, IDA, Thumakunta, Hindupur – 515211 Measuring about
14800 sq. mtrs belonging to the company towards various credit facilities
offered by the Bank. All other terms,
conditions and existing securities to continue. |
As Per Website 
Rollwell Is
Team has rich management and engineering experience in the Bulk Material
Handling industry. Backed by over 3000 man-years of experiential knowledge,
product intelligence, customer interactions, manufacturing excellence and
design competence, team Rollwell is equipped to produce the finest quality
products suited to match the technical and commercial expectations.
Dedicated Design & Engineering Department is equipped with
the latest hardware and software tools for designing, drafting and drawing.
Their highly experienced team of innovative design engineers is supported by
specially designed software for designing, based on international standards
like CEMA etc.
Modern Manufacturing Facility at Hindupur, near
Quality Assurance Program ensures stringent quality control norms right
from sourcing of raw material to packaging of finished products. Their highly
trained QC and inspection team supported by their international testing systems
and processes is committed to making brand Rollwell synonymous to Quality.
Customer Driven Approach, speed of
response, transparent systems and turn around times are the pillars which are
supporting them to scale new heights everyday to manufacturing the finest
material handling systems and components available anywhere in the global
market.
Applications
for
- Cement Industry
- Steel Industry
- Mining Industry
- Port Trusts
- Power Plants
- Fertilizer Industries
- Chemical Industries
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.39.51 |
|
|
1 |
Rs.81.16 |
|
Euro |
1 |
Rs.56.76 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
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 |
|
|
>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. |
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 |
|