MIRA
INFORM REPORT
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Report Date : |
20.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
RUD INDIA CHAIN PRIVATE LIMITED |
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Registered Office : |
A/68 to A/71, Asiya Mata Compound, Reti Bunder Road, Village, Kalher,
Taluka, Bhiwandi, Thane – 421302, Maharashtra |
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Country : |
India |
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Financial Year (as on) : |
31.03.2008 |
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Date of Incorporation : |
19.11.2007 |
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Com. Reg. No.: |
175974 |
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CIN No.: [Company
Identification No.] |
U74999MH2007PTC175974 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNER09475E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer, supplier and exporter of material
handling products and integrated material handling solutions. |
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. |
Small |
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Maximum Credit Limit : |
USD 36105 |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Mr. A. K. Satpal, Accountant parted some details. He claims sales of
Rs. 150.000 Millions in 2008-09 (anticipated). Subject is a wholly owned subsidiary of RUD, Germany. It is yet in
infancy stage in India. No trade relation or payment records are yet known. The company claim to have good order from Siemens and Suzlon. However, subject can be considered for business dealings with some
caution since it is in initial stage of operations. |
INFORMATION PARTED
BY
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Name : |
Mr. A. K. Satpal |
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Designation : |
Accountant |
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Contact No.: |
91-9323573144 |
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Date : |
14.08.2008 |
LOCATIONS
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Registered Office/ Factory : |
A/68 to A/71, Asiya Mata Compound, Reti Bunder Road, Village, Kalher,
Taluka, Bhiwandi, Thane – 421302, Maharashtra, India |
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Tel. No.: |
91-2522-645503/ 645626/ 27/ 28 |
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Mobile No.: |
91-9323573144/ 9322165240 |
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E-Mail : |
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Website : |
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Area : |
660 sq. Ft. |
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Location : |
Owned |
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Corporate Office : |
60, Asiatic Arcade, Vartak Nagar, Pokhran Road No. 1 (West)– 400 606,
Thane, Maharashtra, India |
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Tel. No.: |
91-22-25884895, 25882947/ 91-2522-645503 |
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Fax No.: |
91-22-25882947/ 91-2522-645504 |
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E-Mail : |
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Website : |
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Area : |
450 sq. Ft. |
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Location : |
Owned |
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Warehouse : |
Thane, Maharashtra, India |
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Branch Office : |
2, Samrath Apartment, D S Babrekar Road, Dadar (West), Mumbai – 400
028, Maharashtra, India |
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Tel. No. : |
91-22-24468717/ 24451488 |
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Fax No. : |
91-22-24466109 |
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E-mail : |
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Branch Office : |
501, Yashashree, Opp. Income Tax Office, BKC, Bandra (East), Mumbai –
400 051, Maharashtra, India |
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Tel No. : |
91-22-26571108/ 26571956 |
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E-mail : |
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Branch Office : |
154, D Souza, Shivgiri Colony, Off. College Road, Nasik – 422 005,
Maharashtra, India |
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Tel No. : |
91-95253-2580331/ 32/ 35 |
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E-mail : |
DIRECTOR
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Name : |
Mr. Vipinchandra P. Rao |
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Designation : |
Director |
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Address : |
Flat No.1001, H-3, 10 th Floor, Lok Upvan, Lok- Vruksha Phase – II,
Glay’s Alwaris Road Thane – 400610, Maharashtra, India |
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Date of Birth/ Age: |
27.05.1967 |
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Qualification : |
BE |
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Name : |
Mrs. Namita Rao |
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Designation : |
Director |
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Address : |
Flat No.1001, H3, Lok Vruksh, Lok Upvan, Thane – 400610, Maharashtra,
India |
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Date of Birth/ Age: |
10.04.1974 |
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Qualification : |
B. Com |
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Name : |
Mr. Hamjarg Ruger |
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Designation : |
Director |
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Name : |
Mr. Jorg Stephon Ruger |
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Designation : |
Director |
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Name : |
Mr. Benjamin Thomes Ruger |
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Designation : |
Director |
KEY EXECUTIVES
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Name : |
Mr. P. K. Sakpal |
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Designation : |
Accounts Manager |
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Name: |
Mr. Sanjay Bhardwaj |
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Designation: |
Marketing Manager |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 07.06.2008)
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Names of Shareholders |
No. of Shares |
No. of Shares |
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(Equity) |
(Preference) |
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Namita V. Rao |
2500 |
- |
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Rud Kettan Rieger Dietz GMBH Company |
600000 |
1200000 |
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Vipinchandra P. Rao |
197500 |
- |
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Total |
800000 |
1200000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, supplier and exporter of material handling
products and integrated material handling solutions. |
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Products : |
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Exports : |
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Products : |
Link Chains |
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Countries : |
Germany |
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Imports : |
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Products : |
Finished Goods |
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Countries : |
Germany |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Credit (60 days) |
GENERAL
INFORMATION
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Suppliers : |
v Amey Graphics v Flender Limited v Insta Exhibition
Private Limited v Jyoti
Enterprises v Mahatech |
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Customers : |
§
Rud Ketten Germany §
Ultratech Cement Limited (Gujarat Cement Works) §
Andhra Cement Limited |
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No. of Employees : |
30 |
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Bankers : |
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Facilities : |
Total Limit : Rs. 7.700 Millions |
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Banking
Relations : |
Unknown |
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Auditors : |
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Name : |
C. V. K. and
Associates Chartered
Accountant |
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Associates/Subsidiaries : |
Vedant Marketing 60, Asiatic Arcade, Vartak Nagar, Pokhran Road No. 1 (West)– 400606, Thane,Maharashtra, India (Trading of
Lifting points, chain slings, Tyre Protection Chain, Hoist Chains._ |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.500 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.100
million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
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2] Share Application Money |
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7.100 |
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3] Reserves & Surplus |
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0.021 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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7.221 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
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2] Unsecured Loans |
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0.000 |
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TOTAL BORROWING |
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0.000 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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7.221 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.013 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
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Sundry Debtors |
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2.593 |
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Cash & Bank Balances |
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3.871 |
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Other Current Assets |
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2.289 |
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Loans & Advances |
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0.370 |
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Total
Current Assets |
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9.123 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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2.114 |
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Provisions |
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0.026 |
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Total
Current Liabilities |
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2.140 |
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Net Current Assets |
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6.983 |
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MISCELLANEOUS EXPENSES |
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0.223 |
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TOTAL |
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7.221 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2008 |
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Sales Turnover |
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2.528 |
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Total Income |
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2.528 |
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Profit/(Loss) Before Tax |
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0.021 |
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Provision for Taxation |
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0.000 |
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Profit/(Loss) After Tax |
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0.021 |
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Expenditures : |
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Purchases made for re-sale |
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2.100 |
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License Fees |
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0.002 |
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Professional Fees |
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0.077 |
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Brokerages |
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0.050 |
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Bank Charges |
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0.011 |
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Payment to Auditors |
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0.020 |
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Profession Tax |
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0.002 |
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Other Expenditure |
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0.245 |
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Total Expenditure |
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2.507 |
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KEY RATIOS
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PARTICULARS |
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31.03.2008 |
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PAT / Total Income |
(%) |
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0.83 |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.83 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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0.83 |
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Return on Investment (ROI) (PBT/Networth) |
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0.00 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.30 |
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Current Ratio (Current Asset/Current Liability) |
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4.26 |
LOCAL AGENCY
FURTHER INFORMATION
Trade Reference:
- Siemens
Limited
- Suzlon
Limited
Website details
attached:
Profile:
Today despite of the change in the corporate culture and mentality, their name
is still taken with a substantial meaning. This is not only on account of
the products that they manufacture but also, on account of their heritage and
tradition. They take great pride in their history, mining it for inspiration
even as they forge a new and brighter future. RUD India- a wholly owned subsidiary of the RUD Group,
Germany, is a 130 year old company, incepted in the year 1875. They
have a history of strategic innovations that has positioned us
as a broad-line manufacturer,
supplier and exporter of material handling products and
integrated material handling solutions. Their product range comprises of Lifting Means, Conveyor Systems, Snow Chains, Hoist
Chains, Tyre Protection Chains, and related solutions. These
products and services are widely distributed to industrial and consumer markets
worldwide. As an ISO 9001:2000 and ISO
14001:2004 certified, Company is known to have more than 500
patents to its credit. Their specialized outdoor
furniture has got an advantage of 10 years guarantee. Some of
their esteemed clients are Siemens, Godrej and Boyce, BHEL Group, Wheels India,
Tafe, Bharat Forge and the like.
Since its inception in the year 1875, "RUD's" strategy has remained
to leverage their superior material handling design and engineering know-how.
The aim remains to provide differentiated products, systems and services to
efficiently and ergonomically move, lift, position or secure material. The
focus of their company is on industrial and commercial applications with the
highest potential for growing market share in countries that offer the greatest
volume and profit potential. Quality is deeply ingrained in the management
practices of RUD India. Implementation of Total Quality Management (TQM)
concept has been their major thrust area.
Fixed Assets
v Office Equipments
Contingent Liabilities
Estimated amount of contracts remaining to be
executed on capital account Rs. 8.099 millions
O/s Guarantees given by the company’s Bankers
/ Others on behalf of the company Rs. 1.241 millions
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 :
The 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.
The 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. 43.23 |
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UK Pound |
1 |
Rs. 80.89 |
|
Euro |
1 |
Rs. 63.80 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
- |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
- |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
- |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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29 |
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 |
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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 |
|
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, they have no basis upon which to
recommend credit dealings |
No Rating |
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