MIRA
INFORM REPORT
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Report Date : |
21.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
RELIABLE PIPES AND TUBES LIMITED |
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Registered Office : |
29-B, Nakoda Bhavan, Sidhi Lane, Grant Road, Mumbai-400004, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
27.12.2004 |
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Com. Reg. No.: |
150241 |
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CIN No.: [Company
Identification No.] |
U27100MH2004PLC150241 |
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IEC No.: |
0306027526 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMR19906F |
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PAN No.: [Permanent
Account No.] |
AACCB5549E |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business : |
Trader, Exporter and Importer of Stainless Steel Pipes, Tues, Plates,
Sheets and fittings. |
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 6300 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory track. Trade
relations are fair. Payments are reported as slow. However, the company can be considered normal for business dealings at
usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Abhilash Nair |
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Designation : |
Sales International Manager |
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Contact No.: |
91-9324233293 |
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Date : |
12.07.2008 |
LOCATIONS
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Registered Office : |
29-B, Nakoda Bhavan, Sidhi Lane, Grant Road, Mumbai-400004,
Maharashtra, India |
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Tel. No.: |
91-22-23871516/ 66363442/ 66595341/ 66595342 |
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Fax No.: |
91-22-23859458 |
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E-Mail : |
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Website : |
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Area : |
1000 Sq. ft. (Owned) |
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Corporate Office : |
C-16, Anand Bhuvan, 163/ 165, V. R. Road, Mumbai-400004, Maharashtra,
India |
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Tel. No.: |
91-22-23894513/ 14/ 15 |
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Fax No.: |
91-22-23894511 |
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E-Mail : |
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Area : |
1500 Sq. ft (Owned) |
DIRECTORS
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Name : |
Mr. Bharat Mehta |
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Designation : |
Director |
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Tel No. : |
91-22-23894512 |
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Name : |
Mr. Mahendra Mehata |
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Designation : |
Director |
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Name : |
Mr. Narendra Mehata |
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Designation : |
Director |
KEY EXECUTIVES
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Name : |
Mr. Abhilash Nair |
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Designation : |
Sales International Manager |
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Mobile No. : |
91-9324233293 |
SHAREHOLDING
PATTERN
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2007
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Category |
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Percentage |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader, Exporter and Importer of Stainless Steel Pipes, Tues, Plates,
Sheets and fittings. |
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Products : |
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Exports : |
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Countries : |
U.A.E. and Saudi Arebia |
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Imports : |
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Products : |
Pipes and Tubes |
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Countries : |
China |
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Terms : |
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Selling : |
L/C |
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Purchasing : |
L/C |
GENERAL
INFORMATION
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Customers : |
End Users |
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No. of Employees : |
55 |
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Bankers : |
Bank of Baroda, Gulawadi Branch, Mumabi-400004, Maharashtra, India |
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Banking Relations
: |
Satisfactory |
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Auditors : |
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Name : |
N. N. Agarwal and Associates Chartered Accountant |
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Address : |
2nd Panjarapole Lane, Balkrishna Niwas, Room No. 66, Second
Floor, Mumbai-400004, Maharashtra, India |
CAPITAL STRUCTURE
As on 29.09.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.500 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs. 10/-
each |
Rs. 0.500
Million |
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 |
0.500 |
0.500 |
0.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.763 |
0.232 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
[0.002] |
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NETWORTH |
1.263 |
0.732 |
0.498 |
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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 |
3.225 |
0.107 |
0.000 |
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TOTAL BORROWING |
3.255 |
0.107 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.015 |
0.000 |
0.000 |
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TOTAL |
4.533 |
0.839 |
0.498 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.161 |
0.127 |
0.000 |
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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 |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
5.527
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0.000 |
0.000 |
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Sundry Debtors |
2.371
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11.082 |
0.012 |
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Cash & Bank Balances |
0.183
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0.374 |
0.000 |
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Other Current Assets |
0.000
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0.000 |
0.460 |
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Loans & Advances |
0.054
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0.000 |
0.000 |
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Total
Current Assets |
8.135
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11.456 |
0.472 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
3.714
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10.570 |
0.002 |
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Provisions |
0.070
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0.159 |
0.000 |
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Total
Current Liabilities |
3.784
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10.729 |
0.002 |
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Net Current Assets |
4.351
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0.727 |
0.470 |
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MISCELLANEOUS EXPENSES |
0.021 |
0.023 |
0.028 |
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TOTAL |
4.533 |
0.839 |
0.498 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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88.345 |
37.996 |
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Other Income |
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0.048 |
0.000 |
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Total Income |
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88.393 |
37.996 |
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Profit/(Loss) Before Tax |
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0.835 |
0.350 |
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Provision for Taxation |
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0.294 |
0.118 |
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Profit/(Loss) After Tax |
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0.541 |
0.232 |
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Expenditures : |
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Raw Material Consumed |
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84.920 |
36.668 |
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Salaries, Wages, Bonus, etc. |
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0.541 |
0.186 |
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Managerial Remuneration |
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0.360 |
0.180 |
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Payment to Auditors |
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0.020 |
0.015 |
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Interest |
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0.181 |
0.009 |
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Depreciation & Amortization |
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0.065 |
0.038 |
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Other Expenditure |
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1.471 |
0.550 |
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Total Expenditure |
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87.558 |
37.646 |
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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 |
(%) |
0.61
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0.61 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
0.95
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0.92 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
10.06
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3.02 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.66
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0.66 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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5.57
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5.57 |
0.00 |
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Current Ratio (Current Asset/Current Liability) |
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2.15
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2.15 |
236.00 |
LOCAL AGENCY FURTHER
INFORMATION
TRUSTSEAL ACCEPTANCE CHART
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Parameters |
Details |
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Statutory Approvals |
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Legal Status of Firm |
AACCB5549E |
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Income Tax Registration |
27840384770C |
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VAT/ TIN Registration |
27840384770V |
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Import Export Code |
0306027526 |
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Name of Bank |
Bank of Baroda |
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Current Account Number |
14390200001035 |
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Account Since |
25 Years |
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Credibility Factors |
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IndiaMART Client Since |
2 Years |
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Trade Affiliations |
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SSI Registration |
NO |
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Export Promotion Council |
NO |
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Chambers of Commerce Membership |
YES PUB 4088 |
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Standards & Certifications |
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Quality Management Systems |
YES |
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Environment Management Systems |
NO |
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Safety Certificates |
NO |
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Product Certificates |
NO |
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Other Cerficates |
ISO 9001: 2000 |
Trade References:
- Essai Heavy
Engineering Limited, Mumbai
- Garden Silk,
Surat
- Lupin
Limited, Mumbai (Bandra)
- Reliance Rosa
Power Limited, Uttar Pradesh
ABOUT US
Profile:
Subject, a Reliable Group Of Companies is one of the professional
suppliers in India and abroad. Its fully supplying channels offer you the goods
varying from the Stainless Steel, Carbon Steel, Alloy steel and Special Steel
in form of ERW and Seamless Pipes, Sheets, Plates and Coils, Pipe Fittings,
Round Bar, Flats, Angles, Channel and Wire, all under one roof to meet the
clients requirement.
Around 30 years back Reliable
started trading business supplying Steel Pipes and plates to the domestic
market. Later it Started Importing International grades materials to meet the
critical requirement of domestic consumers. Presently Reliable is a proactive
organization centralizing its Manufacturing , Importing , Trading and Exporting
activities under one roof. Their aim is to provide complete business solution
along with Reliability, Efficiency and Creativeness to worldwide clients at
best competitive price and minimum delivery schedule. Reliable has it existence
since 1975 loaded with vast experience of more than three decades towards
engineering raw material and other related field.
Covering from the areas of trading, importing, manufacturing and
exporting Reliable can comprehensively respond to customer's requirements stage
by stage and always tries to give full responsibility to their customer in
every field.
Reliable is continuously developing innovative technology in each business
field and trying to maximize customer satisfaction by materializing
"The best value creating company" and opening a new Engineering
culture of the 21C.
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.42.78 |
|
UK Pound |
1 |
Rs.85.51 |
|
Euro |
1 |
Rs.67.90 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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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 |
5 |
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--PROFITABILIRY |
1~10 |
2 |
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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 |
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 |
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TOTAL |
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43 |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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