MIRA
INFORM REPORT
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Report Date : |
19.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
TRIDENT RUBBER PRIVATE LIMITED |
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Registered Office : |
768/2, Somnath Road, Daman, U T of Daman and Diu – 396 210, Gujarat, |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
27.09.1993 |
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Com. Reg. No.: |
56-1437 |
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CIN No.: [Company
Identification No.] |
U25114DD1993PTC001437 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
SRTT00652B |
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PAN No.: [Permanent
Account No.] |
AAACT8930H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers and Exporters of Rubber Compounds
of Natural Rubber, EPDM Rubber and Nitrile Rubber. |
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 31000 |
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Status : |
Good |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Mr. Balchandran, Accountant declined business and financial details. Subject is a well established company having satisfactory track. Trade relations are fair. Payments are usually correct and as per
commitments. The company is doing well. It can be considered good for normal business dealings at usual trade
terms and conditions. |
INFORMATION
DECLINED BY
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Name : |
Mr. Balchandran |
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Designation : |
Accountant |
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Date : |
15.07.2008 |
LOCATIONS
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Registered Office / Factory : |
768/2, Somnath Road, Daman, U T of Daman and Diu – 396 210, Gujarat,
India |
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Tel. No.: |
91-260-2242738 / 2242757 / 2241738 |
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Mobile No.: |
91-9377021024 / 9377021012 |
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E-Mail : |
/DIRECTORS
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Name : |
Mr. Siby Kurian |
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Designation : |
Director |
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Address : |
31/ Daman Ganga Darshan Co-op. Housing Society, Wad Chowky, Daman,
Daman and Diu – 396 210, Gujarat, India |
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Date of Birth/Age : |
14.03.1954 |
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Date of Appointment : |
27.09.1993 |
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Name : |
Mrs. Suja Xavier |
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Designation : |
Director |
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Address : |
Near Amaliya School, Vapi Daman Road, Dabhel, Daman, Daman and Diu –
396 210, Gujarat, India |
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Date of Birth/Age : |
17.12.1959 |
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Date of Appointment : |
26.03.1998 |
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Name : |
Mr. Xaiver Kurian |
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Designation : |
Director |
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Address : |
House No. 10/ A , Near Amalia Government School, Dabhel, Daman, Daman
and Diu – 396 210, Gujarat, India |
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Date of Birth/Age : |
28.11.1955 |
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Date of Appointment : |
11.03.2004 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 30.09.2005)
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Names of Shareholders |
No. of Shares |
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Siby Kurian |
4916 |
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Xaiver Kurian |
4063 |
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Suja Xavier |
818 |
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Puthettu M. Mani |
1 |
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Abraham George |
202 |
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Total |
10000 |
Equity shares Breakup (percentage of total equity)
(As on 29.09.2007)
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Category |
Percentage |
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Directors or relative of directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of Rubber Compounds
of Natural Rubber, EPDM Rubber and Nitrile Rubber. |
GENERAL
INFORMATION
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Customers : |
·
Ford ·
GM ·
Suzuki ·
Mahindra and Mahindra ·
Tata ·
Toyata |
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No. of Employees : |
20 |
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Bankers : |
State Bank of
India Vapi, Industrial Township
Branch, Vapi. |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Gopalkrishnan Aiyer and Company Chartered Accountants |
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Address : |
206/207, 2nd Floor, Panchratna Building, GIDC, Char Rasta, Vapi
– 396 195, Gujarat, India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.100/- each |
Rs.1.000 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.100/- each |
Rs.1.000 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 |
1.000 |
1.000 |
1.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
5.284 |
5.768 |
5.239 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
6.284 |
6.768 |
6.239 |
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LOAN FUNDS |
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1] Secured Loans |
2.951 |
4.146 |
2.304 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
2.951 |
4.146 |
2.304 |
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DEFERRED TAX LIABILITIES |
0.087 |
0.271 |
0.136 |
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TOTAL |
9.322 |
11.185 |
8.679 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
7.899 |
6.920 |
4.056 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.010 |
0.076 |
0.076 |
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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 |
7.229
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6.075 |
5.132 |
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Sundry Debtors |
4.553
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5.483 |
5.178 |
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Cash & Bank Balances |
1.384
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0.119 |
0.262 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
2.964
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2.696 |
2.355 |
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Total
Current Assets |
16.130
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14.373 |
12.927 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
14.299
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10.073 |
8.311 |
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Provisions |
0.418
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0.111 |
0.069 |
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Total
Current Liabilities |
14.717
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10.184 |
8.380 |
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Net Current Assets |
1.413
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4.189 |
4.547 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
9.322 |
11.185 |
8.679 |
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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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Debt Equity Ratio (Total Liability/Networth) |
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2.81
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2.12 |
1.71 |
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Current Ratio (Current Asset/Current Liability) |
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1.10
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1.41 |
1.54 |
LOCAL AGENCY
FURTHER INFORMATION
Form No. 8
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Name of the company |
TRIDENT RUBBER PRIVATE LIMITED |
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Presented By |
Trident Rubber Private Limited |
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1) Date and description of instrument creating the change |
Memorandum of entry for grant of small industrial advances by deposit of
Title Deeds for Rs.7.800 millions dated 27.04.1995. |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.7.800 millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
All that
non-agricultural land or ground or piece or parcel of land know as Chorwalli,
admeasuring 800 Sq. Mtrs., situated at Dabhel Village Panchayat, Dist. Daman. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interest @16.5%
p.a. commitment charges, cost, charges, commission, pre-payment, premier
expenses and other monies payable and expenses whatsoever incurred by State
Bank of India, Vapi. |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of
India Vapi. Industrial
Township Branch, Vapi. |
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6) Date and brief description of instrument modifying the charge |
Memorandum of
extension of an equitable mortgage dated 08.02.199 |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Credit limits to the
company is increased as given hereunder.
All other terms and
conditions to remain the same. The charge created as above will operate as a
security for the credit limits granted to the company by State Bank of India,
Vapi Industrial Township, Vapi Branch to the tune of Rs.5.300 millions and
also a charge by way of collateral security for credit facilities granted to
M/S. Universal Rubber to the tune of Rs.7.300 millions. |
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.78 |
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UK Pound |
1 |
Rs.85.51 |
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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 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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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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54 |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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