MIRA
INFORM REPORT
|
Report Date : |
02.12.2008 |
IDENTIFICATION
DETAILS
|
Name : |
RAVI FOODS PRIVATE LIMITED |
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Registered Office : |
7-4-112/1, Madhuban Colony Road, Kattedan, Hyderabad – 500 077, Andhra
Pradesh. |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
28.11.1988 |
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Com. Reg. No.: |
01-009309 |
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CIN No.: [Company
Identification No.] |
U15412AP1988PTC009309 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
HYDR00783G |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business : |
Manufacturer of Dukes Biscuits and Wafers. |
RATING &
COMMENTS
|
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 470000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed company having satisfactory
track. Trade relations are fair. Business is active. No complaints have been heared
from the market sources. The company can be considered good for normal business dealings. |
LOCATIONS
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Registered Office : |
7-4-112/1, Madhuban Colony Road, Kattedan, Hyderabad – 500 077, Andhra
Pradesh, India. |
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Tel. No.: |
91-40-24362777 / 24361030 / 1603 / 24017233 / 24017777 |
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Mobile No.: |
91-9849024164 |
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Fax No.: |
91-40-24361529 / 24360255 / 24360227 |
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E-Mail : |
vivek@dukesindia.com |
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Website : |
www.treffbiscuits.com |
DIRECTORS
|
Name : |
Mr. Ravinder Agarwal |
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Designation : |
Managing Directors |
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Address : |
10-5-17, Masabtank, Hyderabad – 500 028, Andhra Pradesh, India. |
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Date of Birth/Age : |
09.04.1965 |
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Date of Appointment : |
28.11.1988 |
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Name : |
Mr. Ramesh Kumar Agarwal |
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Designation : |
Director |
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Address : |
Plot No.59, Sai Nagar Co-Operative Society, Banjara Hills, Hyderabad –
500 034, Andhra Pradesh, India. |
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Date of Birth/Age : |
12.06.1953 |
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Date of Appointment : |
27.07.1999 |
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Name : |
Mr. Kedarnath Agarwal |
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Designation : |
Director |
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Address : |
Plot No. 874, Road 45, Jubilee Hills, Hyderabad – 500 034, Andhra Pradesh,
India. |
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Date of Birth/Age : |
04.03.1950 |
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Date of Appointment : |
28.11.1988 |
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Name : |
Ms. Nirmala Agarwal |
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Designation : |
Director |
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Address : |
10-5-17, Masabtank, Hyderabad – 500 028, Andhra Pradesh, India. |
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Date of Birth/Age : |
31.10.1964 |
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Date of Appointment : |
27.07.1999 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
AS ON 29.09.2007
|
Names of Shareholders |
|
No. of Shares |
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|
|
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Mr. Kedarnath Agarwal |
|
396790 |
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Mr. Omprakash Agarwal |
|
30100 |
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Mr. Ravinder K. Agarwal |
|
430050 |
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Mr. Ramesh K. Agarwal (HUF) |
|
143450 |
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Mr. ANAND AGARWAL |
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20500 |
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Mr. Rajender K. Agarwal |
|
136700 |
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Mr. Vikas Agarwal |
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44000 |
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Mr. Adarsh Agarwal |
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12830 |
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Mr. Kedarnath Agarwal |
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74000 |
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Mrs. Pushpalata Agarwal |
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6500 |
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Mr. Ravinder K. Agarwal (HUF) |
|
129200 |
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Mrs. Urmila Agarwal |
|
4000 |
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Mrs. Nirmala Agarwal |
|
61480 |
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Mr. Ramesh K. Agarwal (S/O Late Badri Lal Agarwal) |
|
226300 |
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Mr. Gopi Krishna Suresh Chandra – HUF |
|
14000 |
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Mrs. Preethi Agarwal |
|
15700 |
|
Naini Automobiles |
|
14400 |
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Mrs.Greeshma Agarwal |
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16000 |
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Mr. Suresh K. Biyani |
|
20000 |
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Sunanda Avadhanula, A Viswanatha Rao, A.S. Laxmi Shrti |
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10000 |
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Veera Reddy Tappeta, K.R.Mohan Reddy (Joint Applicants) |
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10000 |
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Mrs. Neeta Agarwal |
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20000 |
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Venkateswara Enterprises |
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14000 |
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Sunder Bai Biyani, Narayan Das Biyani, Badrivishal Biyani (Joint
Applicants) |
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12000 |
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Sampath Kumar Biyani, Saraladevi Biyani, Jayaram Biyani (Joint
Applicant) |
|
8000 |
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Mrs.Sobha agarwal |
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70000 |
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Total |
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1940000 |
AS ON 31.03.2007
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
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Directors or relatives of directors |
|
100.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Dukes Biscuits and Wafers. |
GENERAL
INFORMATION
|
Bankers : |
Ø State Bank Of
India MID Corporate
Group, Saifabad Branch, Hyderabad – 500004, Andhra Pradesh,
India. |
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Facilities : |
Secured Loans as
on 31.03.2007
Note: - secured by 1st charge on building, plant and
machinery and other assets and hypothecation on inventories and book debts and
personal guarantee by directors. Unsecured loans
as on 31.03.2007
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
U.K.Agarwal and Company Chartered Accountant |
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Address : |
10A, Second Floor, Abids Shopping Centre, ABIDS, Hyderabad – 500001,
Andhra Pradesh, India. |
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Tel. No.: |
91-40-23202129 |
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Associates/Subsidiaries : |
Disha Foods
Private Limited --
Manufacturing of Pickles and Spices Powders |
CAPITAL STRUCTURE
AS ON 31.03.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2500000 |
Equity Shares |
Rs. 10/- Each |
Rs.25.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1940000 |
Equity Shares |
Rs. 10/- Each |
Rs.19.400 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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|
SHAREHOLDERS FUNDS |
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|
|
|
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1] Share Capital |
19.400 |
19.400 |
19.400 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
74.658 |
60.374 |
50.349 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
94.058 |
79.774 |
69.749 |
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LOAN FUNDS |
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|
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1] Secured Loans |
128.231 |
89.319 |
45.325 |
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2] Unsecured Loans |
47.852 |
37.624 |
10.813 |
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TOTAL BORROWING |
176.083 |
126.943 |
56.138 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
270.141 |
206.717 |
125.887 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
85.329 |
56.014 |
41.847 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.659 |
0.659 |
0.744 |
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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 |
122.670
|
98.197 |
51.674 |
|
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Sundry Debtors |
40.549
|
44.549 |
35.249 |
|
|
Cash & Bank Balances |
1.059
|
0.372 |
1.167 |
|
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
40.581
|
38.450 |
22.502 |
|
Total
Current Assets |
204.859
|
181.568 |
110.592 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
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Current Liabilities |
20.706
|
31.526 |
21.123 |
|
|
Provisions |
0.000
|
0.000 |
6.178 |
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Total
Current Liabilities |
20.706
|
31.526 |
27.301 |
|
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Net Current Assets |
184.153
|
150.042 |
83.291 |
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.002 |
0.005 |
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TOTAL |
270.141 |
206.717 |
125.887 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
806.801 |
636.446 |
556.906 |
|
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Other Income |
NA |
NA |
NA |
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Total Income |
806.801 |
636.446 |
556.906 |
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Profit/(Loss) Before Tax |
20.004 |
12.502 |
12.342 |
|
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Provision for Taxation |
5.721 |
2.477 |
1.737 |
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Profit/(Loss) After Tax |
14.283 |
10.025 |
10.605 |
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Expenditures : |
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Depreciation & Amortization |
10.399 |
9.821 |
7.022 |
|
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Other Expenditure |
776.398 |
614.123 |
537.542 |
|
Total Expenditure |
786.797 |
623.944 |
544.564 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
1.77
|
1.57 |
1.90 |
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Net Profit Margin (PBT/Sales) |
(%) |
2.47
|
1.96 |
2.21 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
6.87
|
5.24 |
8.05 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.21
|
0.15 |
0.17 |
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Debt Equity Ratio (Total Liability/Networth) |
|
2.09
|
1.98 |
1.19 |
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Current Ratio (Current Asset/Current Liability) |
|
9.89
|
5.75 |
4.05 |
LOCAL AGENCY
FURTHER INFORMATION
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified
|
90123293 |
|
Corporate
identity number of the company |
U15412AP1988PTC009309 |
|
Name of the
company |
RAVI FOODS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
7-4-112/1, Madhuban Colony Road, Kattedan, Hyderabad – 500 077, Andhra
Pradesh, India. |
|
Type of charge |
Immovable property Any interest in immovable property Book debts Movable property (not being pledge) Floating charge |
|
Particular of
charge holder |
State bank of
India MCLAU,
3/6/281/A/1, 1st Floor, Hyderguda Main Road, SBI Old MLA Quarters
Branch Building, Hyderabad – 500029, Andhra Pradesh, India. |
|
Nature of description
of the instrument creating or modifying the charge |
1.Supplemental
agreement of loan –cum – hypothecation 2. Memorandum for
recording extension of mortgage by deposit of title deeds covering enhanced
limits. |
|
Date of
instrument Creating the charge |
13.05.2008 |
|
Amount secured by
the charge |
Rs.410.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of interest CC(Hypothecation)
0.75% below SBAR with a minimum of 11.50% per annum at monthly rests. EPC (under
exporters gold card scheme) : upto 180 days-3% below SBAR i.e 9.25% per annum
with monthly rests. Beyond 180 days
and upto 270 days: 1.75% below SBAR i.e 10.50% per annum with monthly rests. The bank reserves
the right to change the rate of interest depending on the changes in bank’s
PLR or otherwise. Terms of repayment Repayable on
demand. The facility which has been sanctioned is available for 12 months
from that date, subject to review every 12 months, when it may be cancelled/
reduced depending upon the conduct and utilization of the advance, or as per
the bank’s scheme. Margin Raw materials and
finished goods – 25% EPC stocks – 10% Receivables – 40% Cover period on
receivables – 60days Letter of credit
(usance 90 days) – 20% BG 20% Extent and operation of the charge Total working
capital facilities being availed from state bank of India have been renewed/ enhanced
from Rs.16500.000 millions to Rs.410.000 millions (cash credit Rs.280.000
millions ; LC – Rs. 60.000 millions; BG – 20.000 millions and standby limit
Rs.50.000 millions) sub-limits of cash credit: book debts Rs.60.000 millions;
EPC/PCFC –Rs.115.000 millions and FBD
Rs.25.000 millions. |
|
Short particulars
of the property charged |
1. First charge
on the current assets of the company. 2. First charge on plant and machinery
and other fixed assets of the company, except thos financed by (a) UCO Bank and
(b) Land admeasuring Acres 3.01 guntas in Sy. No.274, 304 and 305 situated at
gaganpahad, Rajendranagar Mandal, R.RDistrict belonging to the company. 3.
second charge on the fixed assets financed by UCO Bank on reciprocal basis. |
|
Date of latest
modification prior to the present modification |
16.01.2007 |
FIXED ASSETS
Ø
Land
Ø
Plant and machinery
Ø
Furniture and fitting
Ø
Vehicles
Ø
Computer
PRESS RELEASE
Ravi Foods embarks on 15-cr growth plans
Wednesday, December 01, 2004
Hyderabad-based Ravi Foods Private Limited, the makers of
Dukes biscuits and wafers, is expanding its operations by investing Rs 150.000
millions. The company is currently in the process of setting up chocolate
manufacturing units in Hyderabad and Rudrapur in Uttaranchal.
Ramesh Agarwal, Director, Ravi Foods Private Limited, said, "The Company
would be investing Rs 50.000 millions in the Hyderabad plant and Rs 100.000
millions for the plant in Uttaranchal. We would be raising the funds through
debt and internal accruals (60:40)."
According to him, the company decided to foray into the chocolate segment as it
has already created a market for its biscuits and confectionery items.
"The Uttaranchal plant will help us serve the markets in the north and
east because of its location which is important as we are planning to set up
our biscuit manufacturing unit in the future," Agarwal said. Ravi Foods,
part of the Rs 1000.000 millions Ravi group, which has a 10 per cent market
share in the south, expects it to grow considerably over the next couple of
years.
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.50.09 |
|
UK Pound |
1 |
Rs.76.68 |
|
Euro |
1 |
Rs.63.48 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
45 |
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 |
|