MIRA
INFORM REPORT
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Report Date : |
05.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
RPC POWER INDIA PRIVATE LIMITED |
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Registered Office : |
Plot No. A – 27, Madras Export Processing Zone, Tambaram, Chennai – 600045, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
21.11.2002 |
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Com. Reg. No.: |
18-49905 |
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CIN No.: [Company
Identification No.] |
U34300TN2002PTC049905 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHER06634F |
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PAN No.: [Permanent
Account No.] |
AACCR2577E |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business : |
Manufacturer and Exporter of Cylinder Kit and Parts. |
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 11000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory track records. Directors are experienced, respectable and having satisfactory track records. Their trade relations are fair. Payments are usually correct and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions. We are trying to obtain latest financials and if available a supplementary report will be sent soon. |
LOCATIONS
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Registered Office / Factory : |
Plot No. A – 27, Madras Export Processing Zone, Tambaram, Chennai – 600045, Tamilnadu, India |
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Tel. No.: |
91-44-22622424 |
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Fax No.: |
91-44-22623434 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr. K. Vaidyanathan |
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Designation : |
Chairman cum Managing Director |
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Address : |
1022 B Officers Colony, Anna Nagar West Ext., Chennai – 600101,
Tamilnadu, India |
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Date of Appointment : |
21.11.2002 |
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Name : |
Mr. Wylie Steven |
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Designation : |
Director |
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Address : |
2636 Fawn Fescue Ct Minden Niveda – 89423 |
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Date of Appointment : |
21.11.2002 |
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Name : |
Mr. K. Ramakrishan |
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Designation : |
Director |
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Address : |
1022 B Officers Colony, Anna Nagar West Ext., Chennai – 600101,
Tamilnadu, India |
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Date of Appointment : |
21.11.2002 |
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. K. Vaidyanathan |
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5000 |
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Mr. Wylie Steven |
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2500 |
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Mr. K. Ramakrishan |
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2500 |
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Total |
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10000 |
(As on 31.03.2007)
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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 : |
Manufacturer and Exporter of Cylinder Kit and Parts. |
GENERAL
INFORMATION
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Bankers : |
Tambaram Branch No. 5, GST Road, Tamilnadu, India
Tambaram, Chennai – 600045, Tamilnadu, India
Commercial Branch, Guidy, Chennai – 600032, Tamilnadu, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Annamalai Associates Chartered Accountants |
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Address : |
2 Rangarajapuram, Chennai – 600024. |
CAPITAL STRUCTURE
AS ON 31.03.2006
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs.10/-each |
Rs.1.000 million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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86200 |
Equity Shares |
Rs.10/-each |
Rs. 0.862 Million |
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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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31.03.2007 |
31.03.2006 |
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SHAREHOLDERS
FUNDS |
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1] Share Capital |
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0.100 |
0.100 |
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2] Share
Application Money |
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0.762 |
0.762 |
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3] Reserves &
Surplus |
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15.645 |
13.514 |
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4] (Accumulated
Losses) |
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0.000 |
0.000 |
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NETWORTH
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16.507 |
14.376 |
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LOAN FUNDS |
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1] Secured Loans |
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18.013 |
18.006 |
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2] Unsecured Loans |
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0.000 |
0.000 |
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TOTAL BORROWING
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18.013 |
18.006 |
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DEFERRED TAX
LIABILITIES |
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0.000 |
0.000 |
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TOTAL
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34.520 |
32.382 |
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APPLICATION OF FUNDS
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FIXED ASSETS [Net Block]
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2.812 |
2.670 |
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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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0.000 |
0.000 |
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CURRENT ASSETS, LOANS &
ADVANCES
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Inventories
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13.200 |
21.567 |
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Sundry Debtors
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39.788 |
29.663 |
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Cash & Bank Balances
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1.411 |
2.567 |
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Other Current Assets
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0.134 |
0.128 |
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Loans & Advances
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2.122 |
1.403 |
Total Current Assets
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56.655 |
55.328 |
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Less :
CURRENT LIABILITIES & PROVISIONS
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Current Liabilities
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24.951 |
25.630 |
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Provisions
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0.003 |
0.000 |
Total Current Liabilities
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24.954 |
25.630 |
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Net Current Assets
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31.701 |
29.697 |
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MISCELLANEOUS EXPENSES
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0.007 |
0.015 |
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TOTAL
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34.520 |
32.382 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
Sales Turnover
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97.167 |
139.212 |
Other Income
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0.000 |
0.000 |
Total Income
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97.167 |
139.212 |
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Profit/(Loss) Before Tax
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2.130 |
6.921 |
Provision for Taxation
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0.000 |
0.000 |
Profit/(Loss) After Tax
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2.130 |
6.921 |
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Total Expenditure
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95.037 |
132.291 |
KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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PAT / Total
Income |
(%) |
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2.19 |
4.97 |
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Net Profit Margin (PBT/Sales) |
(%) |
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2.19 |
4.97 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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3.58 |
11.93 |
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Return on Investment (ROI) (PBT/Networth) |
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0.13 |
0.48 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.60 |
3.03 |
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Current Ratio (Current Asset/Current Liability) |
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2.27 |
2.16 |
LOCAL AGENCY FURTHER
INFORMATION
Note:
The Registered Office of the company has been shifted from Unit
No. 10, SDF III Phase, II Mepz Tambaram, Chennai – 600045, Tamilnadu to the
present address w.e.f. 01.09.2005
Form 8:
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Corporate
identity number of the company |
U34300TN2002PTC049905 |
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Name of the
company |
RPC POWER INDIA PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
Unit No. 10, SDF III Phase, II Mepz Tambaram, Chennai –
600045, Tamilnadu, India |
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This form is for |
Creation of Charge |
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Type of charge |
Hypothecation
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Particular of
charge holder |
State Bank of
India Commercial
Branch, Guidy, Chennai – 600032, Tamilnadu, India |
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Nature of
instrument creating charge |
Agreement of loan
cum hypothecation in SME – 2 |
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Date of
instrument Creating the charge |
10.02.2006 |
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Amount secured by
the charge |
Rs. 18.000
Millions Facility : Export Packing Credit Together with
interest, costs, charges and all other expenses which may be debited to the
account from time to time |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest
: interest at 6.75 % Margin : Raw Materials Domestic : 25 % Imported : 25 % Stock – in –
Process : 25 % Finished Goods :
25 % Receivables : 25
% Period : 90 days |
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Description of
the property charged indicating whether it is a charged on |
Others |
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Particulars of
the property charged |
Hypothecation by
way of first charge in favour of “state Bank of India, Commercial Branch,
Guidy, Chennai” on all the Companies Stocks and Receivables, and on the
Company’s present and future goods, book debts, movables and other assets
including the entire current assets viz, raw materials, stock in process,
finished goods, semi finished goods, spares, receivables, outstanding monies,
claims, bills, invoices, documents, contracts, engagements, securities,
investments and rights belonging to or in the possession or under the control
of the company wherever lying stored or kept and whether in possession of the
company or of the bank or any third party whether in India or elsewhere
throughout the world. |
WEBSITE DETAILS ATTACHED :
PROFILE:
Reliance Parts Corporation was founded on the idea of offering the installing customer a product that was O.E. like in quality and presentation, at a price that was more affordable. Their product offering focuses principally on replacement parts for John Deere® diesel engines. Every part in the Reliance line is made to guarantee the same reliability as the original installed during new engine assembly. For older engines they frequently adopt current technology, making their part even better than the part originally installed.
Every part they sell is backed by a one year unlimited hour warranty their
warranty covers not only the failed part, but the installation labor charges
and consequential damage to the engine.
Reliance parts are readily available through a distribution network that spans
North America, Latin America, Europe, the Middle East, Far East, Africa, China,
and most other parts of the world where John Deere® engines are operating.
The Reliance product line is fully supported by extensive, accurate cataloging,
and promotional materials.
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
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Indian Rupees |
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US Dollar |
1 |
Rs.42.63 |
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UK Pound |
1 |
Rs.83.40 |
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Euro |
1 |
Rs.65.80 |
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 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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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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48 |
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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