MIRA
INFORM REPORT
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Report Date : |
17.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
ANIL RUBBER MILLS PRIVATE LIMITED |
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Registered Office : |
D – 873, New Friends Colony, Delhi – 110065 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
02.05.1983 |
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Com. Reg. No.: |
55 – 15652 |
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CIN No.: [Company
Identification No.] |
U74899DL1983PTC015652 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELA14286G |
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PAN No.: [Permanent
Account No.] |
AAACA0082B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Conveyor Belts, Transmission Belts and Rubber Sheets. |
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 59805 |
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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 having satisfactory
track records. Trade relations are fair. Business is active. The company can be considered good for normal business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. Tarun |
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Designation : |
Assistant Account |
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Date : |
20.06.2008 |
LOCATIONS
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Registered Office / Factory : |
D – 873, New Friends Colony, Delhi – 110065, India |
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Tel. No.: |
91-11-26319479 |
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Fax No.: |
91-11-26837381 |
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E-Mail : |
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Website : |
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Area : |
12000 Sq. yds |
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Factory : |
Plot No. 30, Sector – 6, Faridabad – 121006, Haryana, India |
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Tel. No.: |
91-129-4065637/ 4065638/ 4065639 |
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Fax No.: |
91-129-4061637/ 4065636 |
DIRECTORS
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Name : |
Mr. Anil Khanna |
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Designation : |
Chairman Cum Managing Director |
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Address : |
D – 837, New Friends Colony, New Delhi – 110065, India |
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Date of Birth/Age : |
05.06.1951 |
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Date of Appointment : |
02.05.1983 |
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Name : |
Mr. Mohammed Mazhari |
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Designation : |
Director |
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Address : |
D – 837, New Friends Colony, New Delhi – 110065, India |
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Date of Birth/Age : |
23.01.1945 |
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Date of Appointment : |
02.05.1983 |
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Name : |
Mrs. Geeta Khanna |
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Designation : |
Wholetime Director |
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Address : |
D – 837, New Friends Colony, New Delhi – 110065, India |
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Date of Birth/Age : |
29.06.1961 |
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Date of Appointment : |
01.02.2000 |
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Name : |
Ms. Anita Khanna |
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Designation : |
Wholetime Director |
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Address : |
D – 837, New Friends Colony, New Delhi – 110065, India |
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Date of Birth/Age : |
19.04.1953 |
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Date of Appointment : |
01.02.2000 |
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Name : |
Mr. Rajat Khanna |
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Designation : |
Additional Director |
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Address : |
D – 837, New Friends Colony, New Delhi – 110065, India |
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Date of Birth/Age : |
06.01.1986 |
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Date of Appointment : |
01.04.2007 |
KEY EXECUTIVES
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Name : |
m/S. s k Agarwal & Company |
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Designation : |
Company Secretary |
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Address : |
B – 114B, Kalkaji, New Delhi – 110019 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 28.09.2005
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Names of Shareholders |
No. of Shares |
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Mr. Anil Khanna |
50644 |
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Mr. Mohammed Mazhari |
167 |
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Mrs. Geeta Khanna |
36074 |
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Ms. Anita Khanna |
1520 |
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Ms. Varsha Puri |
1 |
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Mrs. Sarla Laroiya |
1 |
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Mr. Narayan Chand Das |
1 |
As on 10.07.2006
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Names of Shareholders |
No. of Shares |
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Mr. Anil Khanna |
7000 |
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Mrs. Sarla Laroiya |
3000 |
Equity share breakup (Percentage of total equity)
As on 31.03.2007
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Sr. No. |
Category |
Percentage |
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1. |
Directors or relatives of directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Conveyor Belts, Transmission Belts and Rubber Sheets. |
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Terms : |
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Selling : |
Credit ( 30 – 60 days) |
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Purchasing : |
Credit ( 30 – 60 days) |
GENERAL
INFORMATION
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Customers : |
v Manufacturers v Coal Sector/ Mines v Steel Industry v Thermal Power Plants v Cement Plants v Ports v Fertilizer Plants v
OEM |
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No. of Employees : |
Above 50 |
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Bankers : |
ICICI Bank, Faridabad Branch |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Shanti Prasad and Company Chartered Accountants |
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Address : |
M – 96, Connaught Palace, New Delhi – 110001, India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
120,000 |
Equity Shares |
Rs. 100/- each |
Rs. 12.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
98,408 |
Equity Shares |
Rs. 100/-
each |
Rs. 9.840
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 |
9.840 |
8.840 |
8.840 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
2.121 |
0.150 |
0.150 |
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4] (Accumulated Losses) |
0.000 |
(0.314) |
(6.411) |
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NETWORTH |
11.961 |
8.676 |
2.579 |
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LOAN FUNDS |
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1] Secured Loans |
3.692 |
5.813 |
3.927 |
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2] Unsecured Loans |
0.894 |
2.744 |
4.078 |
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TOTAL BORROWING |
4.586 |
8.557 |
8.005 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
16.547 |
17.233 |
10.584 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
7.699 |
6.344 |
4.524 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.484 |
0.311 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
7.576
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16.334 |
13.206 |
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Sundry Debtors |
16.276
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24.483 |
17.298 |
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Cash & Bank Balances |
8.463
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1.916 |
1.046 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
3.684
|
2.435 |
3.278 |
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Total
Current Assets |
35.999
|
45.168 |
34.828 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
24.870
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32.809 |
27.393 |
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Provisions |
2.764
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1.780 |
1.375 |
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Total
Current Liabilities |
27.634
|
34.589 |
28.768 |
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Net Current Assets |
8.365
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10.579 |
6.060 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
16.547 |
17.233 |
10.584 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
139.589 |
144.157 |
105.984 |
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Other Income |
0.590 |
0.957 |
1.554 |
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Total Income |
140.179 |
145.114 |
107.538 |
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Profit/(Loss) Before Tax |
NA |
5.760 |
0.766 |
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Provision for Taxation |
NA |
(0.337) |
0.065 |
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Profit/(Loss) After Tax |
NA |
6.097 |
0.701 |
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Expenditures : |
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Financial Charges |
NA |
14.366 |
12.462 |
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Depreciation & Amortization |
NA |
1.153 |
1.184 |
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Other Expenditure |
NA |
123.835 |
93.126 |
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Total Expenditure |
NA |
139.354 |
106.772 |
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KEY RATIOS
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
NA
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4.20 |
0.65 |
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Net Profit Margin (PBT/Sales) |
(%) |
NA
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3.99 |
0.72 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
NA
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11.18 |
1.94 |
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Return on Investment (ROI) (PBT/Networth) |
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NA
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0.66 |
0.29 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.31
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3.99 |
11.15 |
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Current Ratio (Current Asset/Current Liability) |
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1.30
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1.30 |
1.21 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References
v
Coal Mines - All Over India
v
Bokra Steel Plant
v
Sail Steel Authority India Limited
Profile
Subject is an India, (New Delhi) based manufacturer and exporter of fabric re-enforced rubber conveyor/elevator, transmission belting and rubber sheets to discerning buyers around the world. The company has supplied more than 10,00,000 meters of belting to its valued clients. ARM is certified a BS EN ISO 9001-2000 company by British Standards Institution, London.
Products
Conveyor belts
“ARM” conveyor belting constitutes of nylon/nylon (NN), polyester/nylon (EP), cotton/nylon (CN), cotton/cotton (CC) carcass with straight ply, stepped ply, reverse stepped ply, breaker ply and “edge-lock” where required.
Anil Rubber Mills are manufacturers and suppliers of rubber conveyor belts in India. “ARM” industrial conveyor belts constitute nylon/nylon (NN), polyester/nylon (EP), cotton/nylon (CN), cotton/cotton (CC). It has carcass with straight ply, stepped ply, reverse stepped ply, breaker ply and “edge-lock” where required.
The above constructions, with a wide range of protective rubber covers, are
manufactured in widths up to 1800 mm in a most modern automated plant, using
the finest raw material inputs.
v Lower longitudinal elongation
v Higher tensile strength
v Good flexibility and troughability
v Good resistance to mildew, moisture and rotting
v Good resistance to edge wear
v Excellent impact resistance
v Unaffected by alkalies and weak acids
v Suitable for conveying material over long distances
B. Polyestor/Nylon (EP) Carcass
v Besides having the advantages as listed for NN carcass belts, EP belts have the additional advantage of lower longitudinal elongation.
C. Cotton/ Cotton (CC) Carcass
v Suitable for most applications
v Good bonding for rubber
v Good fastener holding properties
v Good troughability
v Resistance to longitudinal tearing and damage due to edge turn up
v Improved resistance to impact damage
v Lighter in weight
v Better mechanical fastener holding properties
Transmission
Belts
Rubber frictioned, “hard” cotton duck, compact closely woven for tensile strength, with adequate weft strength for fastener holding. It is impregnated with special, toughened and resilient rubber compound with maximum adhesive properties and anti-oxidants to retard ageing.
Industrial
transmission belts are rubber frictioned, “hard/soft” cotton duck, compact,
closely woven for tensile strength, with adequate weft strength for fastener
holding. These rubber transmission belts are impregnated with special toughened
and resilient rubber compound with maximum adhesive properties and
anti-oxidants to retard ageing.
Plies laminated together under tension to remove stretch and by high pressure
vulcanization formed into belting of solid strength and flexibility.
1. “Transarm” in 'Black Seal' quality, laminated with black square treated
edges, is made from 34 oz, 31 oz Hard Duck.
2. “Transarm” in 32 oz, 28 oz Soft Duck, 'Blue Seal' quality, is made to order
in laminated square edge construction. Folded, round edge belting is also made
against specific orders.
Characterisitcs
1. Tough, durable belting, with flexibility but little stretch
2. The 'hard' rubber frictioned duck withstands abrasive wear under prolonged
severe conditions : --
Has a high
coefficient of friction thus belts can be run at minimum tension. Good holding
for belt fasteners, elevator bucket bolts, slats etc.
3.
“Transarm” belt can withstand intermittent shock loads: --
Perform
heavy duty under all conditions except excessive oil. Operate out of doors,
even in extreme climatic conditions.
“Transarm” belts can be supplied both open end and endless.
Application
1. Power transmission
v
Industrial
drives of all types
v
Laundry,
milling, agricultural machinery
v
Quarry
plant
2. Conveying (Flat or Troughed)
v
Parcels,
packets, cartons etc.
v
Grain,
animal foods etc.
3. Elevating
v
Bucket
elevators for grain etc.
Rubber Sheeting
Anil Rubber offers wide range of rubber sheeting with supplies going to all markets
for varied applications in different geographical areas. These rubber sheets
are suitable for tear and wear resistance, abrasion resistance, low & high
temperatures, acids and bases, ripping and tear, flame and gases; grease and
oils and is suitable for even food applications. These are offered in thickness
ranging from 1.5 mm to almost 100 mm and width up to 1500 mm. These can be
given in strips, sheets and rolls.
The
products have been found acceptable by various consultants like:
v
McKinsey
and Company
v
Fuller
Limited
v
Krupp
India Limited
v
MECON
India Limited
Infrastructure and Quality
The constructions with a wide range of protective rubber covers are
manufactured in widths up to 1800 mm, in a most modern automated plant using
the finest raw material inputs. It is done under the strict vigil of qualified
personnel in conformity to International Standards. The strict quality control
systems ensure high consistent quality and longer lasting belts resulting in
the lowest cost per tonne of material transported to the end user.
Constant process of Research & Development keeps the company abreast with
the latest international trends.
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. 43.17 |
|
UK Pound |
1 |
Rs. 86.46 |
|
Euro |
1 |
Rs. 68.68 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
|
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 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
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--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
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--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, they have no basis upon which to
recommend credit dealings |
No Rating |
|