MIRA
INFORM REPORT
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Report Date : |
04.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
ROYAL TOUCH FABLON PRIVATE LIMITED |
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Registered Office : |
4 Synagogue Street, 2nd Floor, Kolkata – 700 001, West
Bengal |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
02.12.1999 |
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Com. Reg. No.: |
21-90687 |
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CIN No.: [Company
Identification No.] |
U19202WB1999PTC090687 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CALR03058G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Bags and Liners. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 378864 |
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Status : |
Good |
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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 fine track records.
Available information indicates satisfactory financial responsibility of the
company. General financial position is good. 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 at
usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Ashish Sharma |
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Designation : |
Exports Manager |
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Contact No.: |
91-9831660117 |
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Date : |
23.04.2008 |
LOCATIONS
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Registered Office : |
4 Synagogue Street, 2nd Floor, Kolkata – 700001, West
Bengal, India |
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Tel. No.: |
91-33-22104395/ 22104413/ 22104415 |
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Mobile No.: |
91-9831660117 |
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Fax No.: |
91-33-22425792 |
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E-Mail : |
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Website : |
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Area : |
3500 sq.fts |
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Location : |
Owned |
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Factory 1: |
Begampur Dankuni, Near Coca Cola Factory, India |
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Area : |
100000 Sq.fts |
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Location : |
Owned |
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Factory 2: |
2 T N Mukherjee Road, Makhla , Uttartara, India |
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Area : |
50000 sq.fts |
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Location : |
Owned |
DIRECTORS
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Name : |
Mrs. Kaushalaya Devi Kandoi |
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Designation : |
Director |
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Address : |
1/1 Bakery Road, Hastinus, Kolkata – 700 022, West Bengal, India |
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Date of Birth/Age : |
09.06.1943 |
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Date of Appointment : |
02.12.1999 |
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Name : |
Mr. Prakash Kandoi |
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Designation : |
Director |
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Address : |
1/1 Bakery Road, Hastinus, Kolkata – 700 022, West Bengal, India |
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Qualification: |
Post Graduate |
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Date of Appointment : |
02.12.1999 |
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Name : |
Mr. Vikash Kandoi |
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Designation : |
Director |
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Qualification: |
Graduate |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 31.03.2007)
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Names of Shareholders |
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No. of Shares |
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Mr. Prakash Kandoi |
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427400 |
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Mrs. Kaushalya Devi Kandoi |
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113600 |
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Mr. Vikash Kandoi |
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604600 |
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Mrs. Pushpa Kandoi |
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387400 |
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Mrs. Shikha Mittal |
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10000 |
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Mr. Basudeo Kandoi |
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420000 |
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Mr. Prakash Kandoi |
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65000 |
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Mr. Vikash Kandoi |
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390000 |
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Mrs. Mani Devi Kandoi |
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142000 |
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Mr. Ashok Kandoi |
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50000 |
Equity Shares Breakup (Percentage of Total Equity): (as on 31.03.2007):-
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Category |
Percentage |
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Bodies Corporate |
25.00 |
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Directors or relative of directors |
75.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Bags and Liners. |
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Exports : |
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Products : |
All products |
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Countries : |
Europe |
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Imports : |
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Products : |
Raw materials for LDP |
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Countries : |
· Saudi Arabia · Singapore |
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Terms : |
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Selling : |
L/C , Cash |
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Purchasing : |
L/C , Cash |
GENERAL
INFORMATION
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Customers : |
Wholesalers |
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No. of Employees : |
Around 100 |
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Bankers : |
· State Bank of
Bikaner and Jaipur Address: 4 Synagogue Street, 1st Floor, Kolkata – 700 001,
West Bengal, India · ICICI Bank |
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Facilities: |
Cash Credit and Term Loan |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
S Swarup and Company Chartered Accountants |
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Address : |
21, Hemanta Basu Sarani, 3rd Floor, Room No. 303, Kolkata –
700 001, West Bengal, India |
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Associates/Subsidiaries : |
· T B Polyplast Private Limited, Kolkata Activity:
Manufacturer
and Exporter of Bags and Liners. · Renuka Synthetics Private Limited · Armstrong Packaging private Limited, Kolkata |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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5500000 |
Equity Shares |
Rs. 10/- each |
Rs. 55.000 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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5500000 |
Equity Shares |
Rs. 10/- each |
Rs.55.000
millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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54.500 |
52.500 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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40.216 |
12.900 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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94.716 |
65.400 |
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LOAN FUNDS |
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1] Secured Loans |
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188.069 |
92.720 |
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2] Unsecured Loans |
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52.006 |
8.825 |
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TOTAL BORROWING |
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240.075 |
101.545 |
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DEFERRED TAX LIABILITIES |
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1.357 |
2.063 |
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TOTAL |
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336.148 |
169.008 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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84.790 |
33.112 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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81.228 |
70.286 |
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Sundry Debtors |
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187.407 |
124.997 |
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Cash & Bank Balances |
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4.777 |
3.742 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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96.086 |
94.712 |
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Total
Current Assets |
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369.498 |
293.737 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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118.221 |
157.942 |
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Provisions |
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0.000 |
0.000 |
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Total
Current Liabilities |
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118.221 |
157.942 |
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Net Current Assets |
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251.277 |
135.795 |
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MISCELLANEOUS EXPENSES |
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0.081 |
0.101 |
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TOTAL |
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336.148 |
169.008 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Sales Turnover |
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599.940 |
551.775 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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599.940 |
551.775 |
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Profit/(Loss) Before Tax |
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9.848 |
7.786 |
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Provision for Taxation |
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0.531 |
2.835 |
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Profit/(Loss) After Tax |
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9.317 |
4.951 |
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Expenditures : |
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Depreciation & Amortization |
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3.535 |
1.405 |
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Other Expenditure |
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586.557 |
542.584 |
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Total Expenditure |
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590.092 |
543.989 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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1.55 |
0.90 |
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Net Profit Margin (PBT/Sales) |
(%) |
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1.64 |
1.41 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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2.17 |
2.38 |
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Return on Investment (ROI) (PBT/Networth) |
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0.10 |
0.12 |
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Debt Equity Ratio (Total Liability/Networth) |
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3.78 |
3.96 |
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Current Ratio (Current Asset/Current Liability) |
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3.13 |
1.85 |
LOCAL AGENCY
FURTHER INFORMATION
FORM 8:-
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Corporation identity number or foreign company registrations number of
the company |
U99999WB1999PTC090687 |
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Name of the company |
ROYAL TOUCH
FABLON PRIVATE LIMITED |
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Address |
4 Synagogue Street, w.e.f. 23.05.2000, P S Hare Street, Kolkata – 700
001, West Bengal, India |
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This Form is for |
Modification of charge |
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Type of Charges |
· Immovable property · Any Interest in immovable property · Book Debts · Movable property |
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Particular of the charge holder
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State Bank of Bikaner and Jaipur Address: 4 Synagogue Street, 1st Floor, Kolkata – 700 001,
West Bengal, India Email: opbanka@gmail.com |
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Nature or description of the instrument creating charge |
· Memorandum of deposit for creation of charge for term loan / overall limit dated 05.10.2007 · Letter regarding grant of individual limit within overall limit dated 05.10.2007 · Supplemental agreement fro hypothecation of goods for increase in overall limit dated 05.10.2007 · Supplemental agreement of loan for increase in overall limit dated 05.10.2007 |
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Date of the instrument creating charge |
05.10.2007 |
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Amount Secure by the charge |
Rs. 342.700 millions |
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Brief of the principal terms and conditions and extent and operation
of the charge |
Rate of Interest : Cash credit – BPLR presently 13% EPC – As prescribed for EPC FBP / FBD – As prescribed fro EPC Term Loan – BPLR presently 13% Terms of repayment: Repayment start from September 2008 first quarter 3.000 millions and
3.500 millions per quarter thereafter and last two quarter 4.000 millions Margin: Cash credit – Raw materials – 25% , Stock in process – 30% , finished
goods 25% , book debts – 40% , EPC – 15% Letter of credit – 10% by way of cash / TDR Bank guarantee -10% by way of cash / TDR Term Loan as prescribed Extent and operation of the
charge: · First charge on the entire assets of the company · First charge on in immovable property of Renuka Synthetics Private Limited · First charge on the residential properties of Director and relative detail given in sanction letter |
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Short particulars of the Property charged |
Entire current assets including stock of raw materials, SIP, Finished
goods, stores, spares, lying at the factory and other stock points, book
debts, etc. Residential properties of Director and relatives, factory land
and building of company and factory land and building of M/s Renuka
Synthetics, described in sanction letter.
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Particulars of the present modification |
Vide this modification the overall limit has been increased to 342.700
millions |
WEBSITE DETAILS
Company
Profile:
The company is a manufacturer and exporter of
a wide range of packaging bags and sheets. Backed by a team of experts, they
are devoted to provide the highest quality of packaging materials through their
flawless range of products. Their full range includes: jumbo bags/builder bags/
container bags, small bags/PP sacks/PP bags / fertilizer bags/ cement bags,
tarpaulins, garbage bags, liners, LD/LLDP rolls, T-shirt bags/ carry bags/
shopping bags, jute bags, multi filament yarns, static sheets, multilayer
films, sugar bags.
Catering to different industries, they are also
facilitated with world-class manufacturing unit. Empowered with latest
technology, they conduct various check and tests to ensure that their products
comply to international quality norms.
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.42.53 |
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UK Pound |
1 |
Rs.83.44 |
|
Euro |
1 |
Rs.66.18 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
7 |
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OPERATING SCALE |
1~10 |
7 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
8 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
8 |
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--LEVERAGE |
1~10 |
8 |
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--RESERVES |
1~10 |
7 |
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--CREDIT LINES |
1~10 |
7 |
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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 |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
63 |
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 |
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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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