MIRA
INFORM REPORT
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Report Date : |
07.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
RAJKUMAR IMPEX PRIVATE LIMITED |
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Registered Office : |
B-603, Keshav Dugar Apartments, No 1, East Avenue, Greenways Road,
Keshav Perumal Puram, R. A. Puram, Chennai 600028, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
04.11.1994 |
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Com. Reg. No.: |
18-29136 |
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CIN No.: [Company
Identification No.] |
U52599TN1994PTC029136 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHER02174E |
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PAN No.: [Permanent
Account No.] |
AAACR3577J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Exporter and Importer of Cashew Nut and Kernels |
RATING &
COMMENTS
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MIRAs 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 1300000 |
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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 meeting its normal
commitments timeously. General financial position is good. Business is
active. The company can be considered good for normal business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. Thiyago |
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Designation : |
Senior Executive |
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Date : |
04.06.2008 |
LOCATIONS
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Registered Office : |
B-603, Keshav Dugar Apartments, No 1, East Avenue, Greenways Road,
Keshav Perumal Puram, R. A. Puram, Chennai 600028, Tamilnadu, India |
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Tel. No.: |
91-44-24616536 to 38 |
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Fax No.: |
91-44-24616540 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Venkatesan Rajkumar |
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Designation : |
Managing Director |
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Address : |
No. 43, 5/8, IV South Main Road, Kapaleshwarar Nagar Extension,
Neelang Karai, Chennai 600041, Tamilnadu, India |
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Date of Birth/Age : |
03.10.1967 |
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Qualification : |
Graduate |
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Date of Appointment : |
04.11.1994 |
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Name : |
Mrs. Jai Rajkumar |
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Designation : |
Director |
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Address : |
No. 43, 5/8, IV South Main Road, Kapaleshwarar Nagar Extension, Neelang
Karai, Chennai 600041, Tamilnadu, India
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Date of Birth/Age : |
02.06.1972 |
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Qualification : |
Graduate |
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Date of Appointment : |
04.11.1994 |
KEY EXECUTIVES
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Name : |
Mrs. Valli |
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Designation : |
Company Secretary |
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Address : |
Flat No. 8, IV Floor, Vel Apartments, M 31, II Main Road, Anna Nagar
East, Chennai 600102 |
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Date of Appointment : |
01.12.2005 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
AS ON 06.07.2005
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Names of Shareholders |
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No. of Shares |
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Mr. V Rajkumar |
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3999200 |
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Mrs. Jai Rajkumar |
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800 |
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Total |
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4000000 |
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 : |
Exporter and Importer of Cashew Nut and Kernels |
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Exports : |
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Products : |
Cashew Crenels |
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Countries : |
US, Europe and Asian Countries
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Imports : |
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Products : |
Cashew |
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Countries : |
Western - East Africa and Indonesia |
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Terms : |
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Selling : |
L/C, Cash and Credit [30 days] |
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Purchasing : |
L/C, Cash and Credit [30 days] |
GENERAL
INFORMATION
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Customers : |
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No. of Employees : |
520 [In office : 20 and in Factory : 500] |
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Bankers : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Raja and Raman Chartered Accountants |
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Address : |
1055/11, Gowtham Centre, First Floor, Avanashi Road, Coimbatore
641018, Tamilnadu, India |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
AS ON 30.09.2007
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10500000 |
Equity Shares |
Rs. 10/- each |
Rs. 105.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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7820220 |
Equity Shares |
Rs. 10/- each |
Rs. 78.202 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
78.202 |
40.000 |
40.000 |
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2] Share Application Money |
0.000 |
13.202 |
0.000 |
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3] Reserves & Surplus |
243.871 |
190.701 |
105.018 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
322.073 |
243.903 |
145.018 |
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LOAN FUNDS |
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1] Secured Loans |
637.588 |
715.338 |
333.570 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
637.588 |
715.338 |
333.570 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
959.661 |
959.241 |
478.588 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
205.686 |
166.317 |
74.345 |
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Capital work-in-progress |
1.585 |
0.000 |
0.00 |
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INVESTMENT |
45.286 |
11.195 |
0.000 |
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DEFERREX TAX ASSETS |
0.105 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
327.022
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370.246 |
226.371 |
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Sundry Debtors |
159.445
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222.039 |
204.476 |
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Cash & Bank Balances |
18.767
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26.551 |
5.066 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
632.247
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340.822 |
38.223 |
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Total
Current Assets |
1137.481
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959.658 |
474.136 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
345.627
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122.469 |
51.343 |
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Provisions |
84.855
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55.460 |
18.550 |
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Total
Current Liabilities |
430.482
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177.929 |
69.893 |
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Net Current Assets |
706.999
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781.729 |
404.243 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
959.661 |
959.241 |
478.588 |
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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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3.32
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6.14 |
2.78 |
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Current Ratio (Current Asset/Current Liability) |
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2.64
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5.39 |
6.78 |
LOCAL AGENCY
FURTHER INFORMATION
Bankers Charges Report
as per Registry
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This form is for |
Modification of
charge |
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Charge
identification number of the modified
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80011872 |
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Corporate
identity number of the company |
U52599TN1994PTC029136 |
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Name of the
company |
RAJKUMAR IMPEX PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
B-603, Keshav Dugar Apartments, No 1, East Avenue, Greenways Road,
Keshav Perumal Puram, R. A. Puram, Chennai 600028 |
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Type of charge |
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Particular of
charge holder |
Standard Chartered Bank, 19, Rajaji Salai, Chennai 600001,
Tamilnadu, India |
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Nature of
description of the instrument creating or modifying the charge |
Supplementary
hypothecation agreement of stocks / book debts / machinery dated 21st
June 2007 made between Standard Chartered Bank and Rajkumar Impex Private
Limited |
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Date of
instrument Creating the charge |
21.06.2007 |
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Amount secured by
the charge |
Rs. 230.000
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As negotiated and
agreed with by the bank from time to time subject to RBI guidelines
additional interest at the rate of not less then 2 % per annum in case of
default / excess withdrawal Terms of
Repayment Tenor : Preference Shares
shipment finance, letter of credit and buyers credit [against latter] upto
180 days post shipment credit upto 60 days Repayment : On respective due
dates of the facility availed Preference
Shares-payment / part Preference Shares payment : Only with prior written
permission of and subject and conditions that may be stipulated by the bank Margin As may be
notified by the bank from time to time Extent and
Operation of the charge
B. First charge on immovable
property by way of equitable mortgage deposit of title deeds with Axis
Bank acting as agent of Standard Chartered Bank and 3 other Banks, on pari
passu basis with Axis bank, HSBC, ICICI Bank and Union Bank of India |
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Short particulars
of the property charged |
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Date of latest
modification prior to the present modification |
11.04.2007 |
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Particulars of
the present modification |
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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 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 Intl
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 companys 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.42.79 |
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UK Pound |
1 |
Rs.83.77 |
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Euro |
1 |
Rs.66.71 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
7 |
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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 |
9 |
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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 |
8 |
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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 |
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67 |
This score serves as a reference to assess SCs 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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