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MIRA
INFORM REPORT
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Report Date : |
23.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
R. P. ALLOYS AND STEEL FORGING (PRIVATE) LIMITED |
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Registered Office : |
lll – E/13, Jhandewalan Extension, New Delhi – 110055, India |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
05.12.1990 |
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Com. Reg. No.: |
55-42244 |
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CIN No.: [Company
Identification No.] |
U74899DL1990PTC042244 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELR08413G |
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PAN No.: [Permanent
Account No.] |
AAACR1444G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Sugar Manufacturing Machinery, Cement
Manufacturing Machinery. |
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 23870 |
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Status : |
Good |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed company having fine track.
Trade relations are fair. Payments are usually correct and as per
commitments. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
lll – E/13, Jhandewalan Extension, New Delhi – 110055, India |
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E-Mail : |
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Head Office : |
7, South Side of G.T. Road, B.S. Road Industrial Area, Ghaziabad –
201009, Uttar Pradesh, India |
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Tel. No.: |
91-120-2866811 / 2866812 |
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Fax No.: |
91-120-2866810 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Virender Kumar |
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Designation : |
Director |
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Date of Birth/Age : |
05.11.1954 |
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Date of Appointment : |
05.12.1990 |
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Name : |
Mr. Ram Prakash |
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Designation : |
Director |
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Address : |
6, Gandhi Nagar, Gaziabad – 201001, Uttar Pradesh, India |
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Date of Birth/Age : |
15.12.1948 |
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Qualification : |
5, Gandhi Nagar, Gaziabad – 201001, Uttar Pradesh, India |
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Date of Appointment : |
05.12.1990 |
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Name : |
Mr. Parduman Kumar |
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Designation : |
Director |
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Address : |
6, Gandhi Nagar, Gaziabad – 201001, Uttar Pradesh, India |
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Date of Birth/Age : |
15.12.1948 |
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Date of Appointment : |
05.12.1990 |
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KEY EXECUTIVES
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Name : |
M/s. M L Narang and Company |
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Designation : |
Company Secretary |
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Address : |
B – 826, MIG Flats, East of Loni Road, Delhi – 110093 |
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Phone No.: |
91-11-22813269 |
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MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
AS ON 30.09.2006
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Names of Shareholders |
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No. of Shares |
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Mr. Ram Prakash |
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13435 |
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Mr. Parduman Kumar |
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13650 |
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Mr. Virender Kumar |
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13500 |
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Smt. Lila Wati |
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1400 |
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Smt. Anita Babbar |
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2390 |
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Smt. Rajni Babbar |
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670 |
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Mr. Jatin Banner |
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1650 |
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Miss. Gaytri Babar |
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350 |
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Mr. Jai Babbar |
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60 |
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Ms. Tapasya Babbar |
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450 |
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Smt. Veena Gandhi |
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10 |
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Smt. Brij Bala |
|
10 |
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Smt. Anita Agarwal |
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10 |
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Mr. Haresh Kumar |
|
10 |
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Smt. Pravin Mittal |
|
10 |
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Smt. Alka Agarwal |
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10 |
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Smt. Beena Goyal |
|
10 |
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Mr. Virender Kumar |
|
10 |
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Smt. Vimala Agarwal |
|
10 |
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Mr. Yogesh Chopra |
|
10 |
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Ms. Preeti Gupta |
|
10 |
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Mr. Yogesh Chopra |
|
10 |
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Ms. Preeti Gupta |
|
10 |
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Mr. Yogesh Gupta (HUF) |
|
10 |
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Shanil Kumar Shahani |
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10 |
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Mr. K.K. Agarwal |
|
10 |
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Mr. Ajay Kumar Agarwal |
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10 |
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Mr. Rahul Gupta |
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10 |
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Mr. A.K. Kataria |
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10 |
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Smt. Ritu Gupta |
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10 |
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Total |
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47735 |
AS ON 30.09.2006
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Equity Share
Breakup |
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Percentage of Holding |
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Category |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Sugar Manufacturing Machinery, Cement
Manufacturing Machinery. |
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Products : |
For Cement Industries
For Fertilizer Industries
For Sponge Iron Industries
For Power Plant
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Exports : |
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Countries : |
Worldwide |
GENERAL
INFORMATION
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Bankers : |
Unitel Credit (Private) Limited, 701, Majucha Building, 57 Nehru
Place, New Delhi – 110019, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
B K Kapur and Company Chartered Accountant |
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Address : |
17, Navyug Market, Ghaziabad - 201001, Uttar Pradesh, India |
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CAPITAL STRUCTURE
AS ON 30.09.2006
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs. 100/- Each |
Rs.5.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
47735 |
Equity Shares |
Rs. 10/- Each |
Rs.4.774 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
4.774 |
4.774 |
4.773 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
25.549 |
19.03 |
13.131 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
30.323 |
23.804 |
17.904 |
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LOAN FUNDS |
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1] Secured Loans |
16.409 |
15.988 |
8.508 |
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2] Unsecured Loans |
4.956 |
8.718 |
8.890 |
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TOTAL BORROWING |
21.365 |
24.706 |
17.398 |
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DEFERRED TAX LIABILITIES |
2.353 |
2.726 |
2.833 |
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TOTAL |
54.041 |
51.236 |
38.135 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
40.444 |
44.685 |
25.860 |
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Capital work-in-progress |
0.824 |
0.742 |
5.056 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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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 |
17.496 |
30.017 |
29.801 |
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Sundry Debtors |
13.851 |
9.332 |
4.502 |
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Cash & Bank Balances |
0.927 |
1.512 |
0.170 |
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Other Current Assets |
0.000 |
0.000 |
0.000 |
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Loans & Advances |
17.251 |
3.036 |
3.330 |
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Total Current
Assets |
49.525 |
43.897 |
37.803 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
36.752 |
38.088 |
30.584 |
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Provisions |
0.000 |
0.000 |
0.000 |
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Total Current Liabilities |
36.752 |
38.088 |
30.584 |
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Net Current
Assets |
12.773 |
5.809 |
7.219 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
54.041 |
51.236 |
38.135 |
PROFIT & LOSS ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
181.889 |
139.168 |
121.456 |
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Other Income |
0.108 |
0.087 |
0.000 |
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Total Income |
181.997 |
139.255 |
121.456 |
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Profit/(Loss) Before Tax |
10.032 |
9.180 |
7.940 |
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Provision for Taxation |
3.513 |
3.28 |
2.886 |
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Profit/(Loss) After Tax |
6.519 |
5.900 |
5.074 |
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Expenditures : |
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Depreciation &
Amortization |
6.696 |
5.079 |
3.402 |
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Other Expenditure |
158.573 |
119.917 |
106.712 |
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Total
Expenditure |
165.269 |
124.996 |
110.114 |
KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
0.03 |
0.04 |
0.04 |
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Net Profit Margin (PBT/Sales) |
(%) |
0.05 |
0.06 |
0.06 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.11 |
0.10 |
0.11 |
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Return on Investment (ROI) (PBT/Networth) |
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0.33 |
0.38 |
0.44 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.91 |
2.63 |
2.67 |
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Current Ratio (Current Asset/Current Liability) |
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1.34 |
1.15 |
1.23 |
LOCAL AGENCY
FURTHER INFORMATION
Form No. 8
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Corporate identity
number of the company |
U74899DL1990PTC042244 |
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Name of the
company |
R. P. ALLOYS AND STEEL FORGING (PRIVATE) LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
New delhi, Delhi –
110005, India |
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This form is for |
Modification of
Charge |
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Type of charge |
Hypothecation |
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Particular of
charge holder |
ING Vysya Bank
Limited
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Amount secured by
the charge |
Rs.10.000
Millions |
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Brief of the principal
terms an conditions and extent and operation of the charge |
The interest on
OD ageist book debt interest of Rs.0.300 million shall be charges @9% p.a.
over rbi rate subject to a minimum of 20% p.a. or at such other rates as may
be specified by the bank from time to time with quarterely rests Margin 15% Repayable on
demand Book debt not to
outstand beyond period of two months. |
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Description of
the property charged indicating whether it is a charged on |
Plant and
Machinery Book debt Stock in
trade |
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Particulars of
the property charged |
Hypothecation of
charge to the bank by way of first charge on all the book debts,
outstandings, money receivable, claim and bills hypothecation of stock of raw
material, work in process, semi finish goods, consumable and other item and
past and present plant and machinery listed in schedule and all future
machinery belonging to or in prossession or under the control of
borrower |
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Charge
identification number of the charge to be modified |
90034102 |
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Brief description
of the instrument modifying the charge under section 135 |
General
hypothecation agreement |
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Date of
instrument modifying the charge |
31.07.2006 |
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Particulars of
the present modification |
The CC limit
stands enhanced from Rs.7.500 millions to Rs.10.000 millions with interest at
1.50% below ivrr – 1.50% i.e. 11% p.a. |
Product
- Components for cement industry
- Components for fertilizer industry
- Components for sponge iron industry
- Components for power plants
- Components for sugar industry
- Components
for steel plants
Mechanical
Component
- Girth Gare
- Pinions
- Shafts
- Support
Rollers
- Bearing
Housing
- Mill Head /
Discharge Head / Feed Hear
- Head Stock
- Tyres
Web Details
Attached
Their impeccable quality G.Gear, Mill Head, Support Rollers,
Tyres, Pinions and Rudder Stock are designed specifically to meet high quality
demands of the market.
About them
The Team at R P Alloys has been serving the Industrial Community
with gear manufacturing and other machining services for over a decade. They
have the privilege to provide machining services to some of the most
Prestigious companies in India. The working culture at R P Alloys is founded on
fine craftsmanship coupled with good know-how. They never rest on their
laurels and are always looking for ways of improving quality and tightening
tolerances. New equipment is constantly being added and training is given to
all staff to ensure the best performance from this equipment.
Most of the heavy duty equipments, such as Gear-Hobbing Machines,
Vertical Turning Lathes, and the Horizontal Boring Machines have been procured
from the leading companies in Europe. It would be very easy to get lost among
the storey-high machines that turn out the massive gears of all types. Despite
the heavy duty nature of its manufacturing processes, quality is measured in
microns.
It is needless to say that they work under third party inspection
to the likes of M/s Lloyds, M/s Bureau Veritas, M/s TATA Projects Limited to
name a few.
R P Alloys is located 35 kms from Delhi in the industrial town of
Ghaziabad, which helps it to be very well connected by road and rail. R P
Alloys is built in 20,000 square meters with the covered area being approx
100,000 sq feet, surrounded by landscaped gardens.
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.43.38 |
|
UK Pound |
1 |
Rs.81.34 |
|
Euro |
1 |
Rs.64.55 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
|
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--BANK CHARGES |
YES/NO |
YES |
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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 |
YES |
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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 |
|
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 |
|