MIRA INFORM REPORT
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Report Date : |
04.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
ROLLEPAAL ENGINEERING INDIA PRIVATE LIMITED |
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Registered Office : |
Block No. 394, Plot No.2, Ashwamegh Industrial Estate, Opp. IBP Petrol
Pump, Post Changodar, Taluka Sanand, Ahmedabad – 382 213, Gujarat |
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Country : |
India |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
18.03.2004 |
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Com. Reg. No.: |
04-43817 |
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CIN No.: [Company
Identification No.] |
U29299GJ2004PTC043817 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHMR02511F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Plastic Pipe Processing Machines like
Extruders, Die Heads, Control, Pullers 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 30000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed company and a part of medium
sized Rollepaal Group. Trade relations are fair. Business is active. Payments
are reported as usually correct and as per commitments. The company can be considered good for normal business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. Sunil Khatri |
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Designation : |
Manager |
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Contact No.: |
91-9824742464 |
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Date : |
30.06.2008 |
LOCATIONS
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Registered Office : |
Block No. 394, Plot No.2, Ashwamegh Industrial Estate, Opp. IBP Petrol
Pump, Post Changodar, Taluka Sanand, Ahmedabad – 382 213, Gujarat, India |
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Tel. No.: |
91-98-985 987 12/13/14 |
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Mobile No.: |
91-9824742464 |
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Fax No.: |
91-98 985 987 15 |
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E-Mail : |
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Website : |
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Location : |
Rented |
DIRECTORS
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Name : |
Mr. Rob G Spekreijse |
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Designation : |
Director |
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Address : |
Zevenblad 12, 7623 CG Borne, The Netherlands, The Netherlands |
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Date of Birth/Age : |
26.05.1960 |
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Date of Appointment : |
18.03.2004 |
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Name : |
Mr. Ruben J Sander |
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Designation : |
Director |
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Address : |
10, Jinmangal Society, Chief Justice Bung Lane, Vastrapur, Ahmedabad –
380 015, Gujarat, India |
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Date of Birth/Age : |
01.02.1970 |
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Date of Appointment : |
18.03.2004 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 11.02.2006)
|
Names of Shareholders |
No. of Shares |
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Rob G Spekreijse |
10 |
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Rollepaal Export BV The Netherlands |
416429 |
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Total |
416439 |
Equity shares Breakup (percentage of total equity)
(As on 30.06.2007)
|
Category |
Percentage |
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Foreign holdings (Foreign institutional
investor(s), Foreign companie(s), Foreign financial institution(s), Non-resident
Indian(s) or Oversea corporate bodies or Others |
99.99 |
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Bodies corporate |
0.01 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Plastic Pipe Processing Machines like Extruders,
Die Heads, Control, Pullers etc. |
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Products : |
Plastic Pipe Processing Machines like ·
Extruders ·
Die Heads ·
Controls ·
Pullers |
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Exports : |
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Products : |
Machines |
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Countries : |
·
South Africa ·
US ·
Netherland ·
Trunisia ·
North America |
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Imports : |
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Products : |
Parts |
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Countries : |
·
Germany ·
Singapore ·
China ·
Netherland |
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Terms : |
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Selling : |
L/C – Against Advance |
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Purchasing : |
L/C – Against Advance |
GENERAL
INFORMATION
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Suppliers : |
·
J. U. Mistry and Sons ·
Parth Industries ·
Global Engineers |
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Customers : |
Manufacturer |
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No. of Employees : |
11 |
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Bankers : |
·
HSBC Bank ·
ING Vyasa Bank Ahmedabad |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
·
Manubhai and Company Chartered Accountants ·
C. K. Damani and Associates Chartered Accountants Address : 6-B, 2nd Floor, Agarwal Chambers, Opp. Town Hall,
Ellisbridge, Ahmedabad – 380 016, Gujarat, India |
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Associates/Subsidiaries : |
Romit B. V. Rollepaal 1 7701 BR Dedemsvaat, PO Box 21, 7700 AA Dedemsvaat, The Netherlands Tel No. : 31 (0) 523 624
599 Fax No : 31 (0) 523 624
500 Website : http://www.romit.nl Email : mail@romit.nl |
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Group Companies : |
Ramix Moulds B. V. Rollepaal 1 7701 BR Dedemsvaat, PO Box 21, 7700 AA Dedemsvaat, The Netherlands Tel No. : 31 (0) 523 624
599 Fax No : 31 (0) 523 624
500 Website : http://www.ramix.nl Email : mail@ramix.nl Rollepaal Inc. 707, East Ordnance Road, # 404 Baltimore, MD 21226, United States Tel No. : 1 410 760 2447 Fax No : 1 410 760 2410 |
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CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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600000 |
Equity Shares |
Rs.10/- each |
Rs.6.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
416439 |
Equity Shares |
Rs.10/- each |
Rs.4.164
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2006 |
31.12.2005 |
18.03.2004 to
31.12.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
4.164 |
4.164 |
3.270 |
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2] Share Application Money |
1.605 |
0.000 |
0.894 |
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3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
(2.904) |
(2.868) |
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NETWORTH |
5.769 |
1.260 |
1.296 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
5.277 |
4.637 |
4.910 |
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TOTAL BORROWING |
5.277 |
4.637 |
4.910 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.235 |
0.000 |
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TOTAL |
11.046 |
6.132 |
6.206 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
6.830 |
8.284 |
8.968 |
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Capital work-in-progress |
0.000 |
0.540 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.285 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
7.208
|
5.040 |
0.049 |
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Sundry Debtors |
9.930
|
1.116 |
0.117 |
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Cash & Bank Balances |
0.390
|
0.097 |
0.433 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
7.951
|
1.734 |
1.327 |
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Total
Current Assets |
25.479
|
7.987 |
1.926 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
19.497
|
10.776 |
5.068 |
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Provisions |
2.051
|
0.116 |
0.046 |
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Total
Current Liabilities |
21.548
|
10.892 |
5.114 |
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Net Current Assets |
3.931
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(2.905) |
(3.188) |
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MISCELLANEOUS EXPENSES |
0.000 |
0.213 |
0.426 |
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TOTAL |
11.046 |
6.132 |
6.206 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.12.2006 |
31.12.2005 |
18.03.2004 to
31.12.2004 |
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Sales Turnover |
61.359 |
24.039 |
0.531 |
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Other Income |
0.274 |
0.011 |
0.008 |
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Total Income |
61.633 |
24.050 |
0.539 |
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Profit/(Loss) Before Tax |
5.411 |
0.215 |
(2.868) |
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Provision for Taxation |
0.902 |
0.251 |
0.000 |
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Profit/(Loss) After Tax |
4.509 |
(0.036) |
(2.868) |
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Earnings in Foreign Currency : |
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Export Earnings |
0.000 |
24.039 |
0.531 |
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Expenditures : |
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Cost of Goods Sold |
0.000 |
5.498 |
0.414 |
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Financial Charges |
0.321 |
0.000 |
0.000 |
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Purchases made for re-sale |
0.000 |
4.882 |
0.000 |
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Increase/(Decrease) in Finished Goods |
(1.545) |
0.000 |
0.000 |
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Salaries, Wages, Bonus, etc. |
0.000 |
1.364 |
0.629 |
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Payment to Auditors |
0.000 |
0.100 |
0.044 |
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Insurance Expenses |
0.000 |
0.048 |
0.005 |
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Power & Fuel |
0.000 |
0.214 |
0.182 |
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Depreciation & Amortization |
1.716 |
0.000 |
0.000 |
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Other Expenditure |
55.730 |
11.729 |
2.133 |
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Total Expenditure |
56.222 |
23.835 |
3.407 |
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KEY RATIOS
|
PARTICULARS |
|
31.12.2006 |
31.12.2005 |
18.03.2004 to
31.12.2004 |
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PAT / Total Income |
(%) |
7.32
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(0.15) |
(532.10) |
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Net Profit Margin (PBT/Sales) |
(%) |
8.82
|
0.89 |
(540.11) |
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Return on Total Assets (PBT/Total Assets} |
(%) |
16.75
|
1.32 |
(26.32) |
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Return on Investment (ROI) (PBT/Networth) |
|
0.94
|
0.17 |
(2.21) |
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Debt Equity Ratio (Total Liability/Networth) |
|
4.65
|
12.32 |
7.73 |
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Current Ratio (Current Asset/Current Liability) |
|
1.18
|
0.73 |
0.38 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References :
·
Jain Irrigation Systems Limited – Jalgaon
·
Estral Polytechnic Limited – Ahmedabad
·
DPI Plastics – South Africa
Fixed Assets
·
Computer Software
·
Office Equipment
·
Computer Equipment
·
Furniture and Fixtures
·
Plant and Machinery
·
Tools and Moulds
·
Leasehold Improvement
·
Motor Car
COMPANY
Subject is
specialises
in design manufacture and service of top-performance machines for the
production of plastic pipes.
However subject is also an organization
of people who believe the key focus to the success is an open and clear
communication with their customers
Subject is:
·
an organization who puts her customers first.
·
over hundred people working close together in order to get the best
results for our customers day in day out.
·
state of the art products.
·
a unique customer approach that proofs working together really gives a
win win situation.
·
people putting the needs of plastic pipe industry first.
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 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.43.30 |
|
UK Pound |
1 |
Rs.86.13 |
|
Euro |
1 |
Rs.68.72 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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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 |
YES |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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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 |
|