MIRA
INFORM REPORT
|
Report Date : |
20.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
R. R. INFOPARK PRIVATE LIMITED |
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Formerly Known As : |
R. R. FINANCIERS AND INDUSTRIES PRIVATE LIMITED |
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Registered Office : |
R. R. Tower III, Thiru Vi Ka Industrial Estate, Guindy, Chennai
600032, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
24.01.1986 |
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Com. Reg. No.: |
012598 |
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CIN No.: [Company
Identification No.] |
U65991TN1986PTC012598 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Construction Activities |
RATING &
COMMENTS
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MIRA’s Rating : |
Aa |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 4710000 |
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Status : |
Very Good |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed company in Indian
construction Industry. General Financial
position is good. Fundamental are
strong and healthy. Payments are
reported as slow but correct. The company can be considered good for normal business dealings at
usual trade terms and conditions. Mr. Bhaskar of the Company declined to part with any information. |
INFORMATION
DECLINED BY
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Name : |
Mr. Bhaskar |
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Date : |
17.05.2008 |
LOCATIONS
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Registered Office : |
R. R. Tower III, Thiru Vi Ka Industrial Estate, Guindy, Chennai
600032, Tamilnadu, India |
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Tel. No.: |
91-44-22347051 / 22500693 / 22501726 |
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Mobile No.: |
91-9841031916 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Ravi Shobana R. |
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Designation : |
Director |
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Address : |
54, Beach Road, Kalakshetra Colony, Chennai 600090, Tamilnadu, India |
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Date of Birth/Age : |
11.12.1975 |
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Date of Appointment : |
30.09.2006 |
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Name : |
Mr. R. Ravi |
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Designation : |
Director |
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Address : |
54, Beach Road, Kalakshetra Colony, Chennai 600090, Tamilnadu, India |
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Date of Birth/Age : |
04.03.1965 |
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Date of Appointment : |
20.08.1987 |
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Name : |
Mr. V. Raman |
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Designation : |
Director |
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Address : |
54, Beach Road, Kalakshetra Colony, Chennai 600090, Tamilnadu, India |
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Date of Birth/Age : |
01.01.1931 |
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Date of Appointment : |
25.02.1992 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
[As on 30.09.2005]
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Names of Shareholders |
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No. of Shares |
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R. Ravi |
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1500 |
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V. Rajagopalan |
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200 |
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Rajashekar |
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1000 |
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Lalitha Raman |
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1500 |
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Anupama Raman |
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1000 |
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V. P. Srinivasan |
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400 |
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Sarada Srinivasan |
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300 |
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Savithri Rajagopalan |
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500 |
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V. Raman |
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1550 |
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S. Ramnath |
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100 |
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R. Swaminathan |
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100 |
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Shantha Jayaram |
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100 |
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R. R. Industries Limited |
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40000 |
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Equity Share
Break-up [As on 31.03.2007] |
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Percentage of
Holding |
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Foreign Holdings |
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50.00 |
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Directors or relatives of the Directors |
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50.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Construction Activities |
GENERAL
INFORMATION
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Bankers : |
Mount Road Branch, 807, Mount Road, Madras 2
12, Ormes Road, Kilpauk, Kellys Corner, Chennai 600010, Tamilnadu,
India
Ashok Nagar Branch, 1st Avenue, Ashok Nagar, Chennai
600083, Tamilnadu, India |
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Banking
Relations : |
Good |
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Auditors : |
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Name : |
N. R. Rajagopalan and Company Chartered Accountants |
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Address : |
Precision Plaza 1st Floor, 397, [Old No. 281], Mount Road,
Chennai 600018, Tamilnadu, India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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925000 |
Equity Shares |
Rs. 100/- each |
Rs. 92.500 Millions |
|
175000 |
Preference Shares |
Rs. 100/- each |
Rs. 17.500 Millions |
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Total |
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Rs. 110.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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923000 |
Equity Shares |
Rs. 100/- each |
Rs. 92.300
Millions |
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88165 |
Preference Shares |
Rs. 100/- each |
Rs. 8.816
Millions |
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Total |
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Rs. 101.116 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 |
101.116 |
25.450 |
0.825 |
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2] Share Application Money |
5.012 |
269.330 |
36.825 |
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3] Reserves & Surplus |
1072.541 |
0.908 |
0.862 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1178.669 |
295.688 |
38.512 |
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LOAN FUNDS |
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1] Secured Loans |
1272.544 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
10.750 |
0.224 |
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TOTAL BORROWING |
1272.544 |
10.750 |
0.224 |
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DEFERRED TAX LIABILITIES |
0.149 |
0.042 |
0.039 |
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TOTAL |
2451.362 |
306.480 |
38.775 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
449.055 |
216.214 |
21.873 |
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Capital work-in-progress |
1164.626 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.300 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.187 |
0.187 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.000 |
0.000 |
0.000 |
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Sundry Debtors |
0.000 |
0.000 |
0.000 |
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Cash & Bank Balances |
73.593 |
0.400 |
4.834 |
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Other Current Assets |
770.754 |
0.623 |
0.518 |
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Loans & Advances |
0.324 |
88.559 |
11.374 |
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Total
Current Assets |
844.671
|
89.582 |
16.726 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
53.330 |
0.244 |
0.011 |
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Provisions |
0.000 |
0.059 |
0.000 |
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Total
Current Liabilities |
53.330
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0.303 |
0.011 |
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Net Current Assets |
791.341 |
89.279 |
16.715 |
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MISCELLANEOUS EXPENSES |
46.340 |
0.500 |
0.000 |
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TOTAL |
2451.362 |
306.480 |
38.775 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
NA
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NA |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
NA
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NA |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
NA
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NA |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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NA
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NA |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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1.12
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0.03 |
0.006 |
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Current Ratio (Current Asset/Current Liability) |
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15.83
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295.65 |
1520.54 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8
Bankers Charges
Report as per Registry
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Name of the company |
R. R. FINANCIERS
AND INDUSTRIES PRIVATE LIMITED |
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Presented By |
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1) Date and description of instrument creating the change |
Confirmation letter
of deposit of title deeds F. 379 dated 26.04.1994 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 22.000
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 |
Agricultural land
to an extent of 50, at Plot No. 5A, S. No. 1/1C/4 new R. S. No. 1/1F of
Sholinga Village worth Rs. 1.850 Millions |
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4) Gist of the terms and conditions and extent and operation of the charge. |
To secure the
repayment to the bank mentioned below
of money that are due or shall from
time to time or at any time be due from Procyon Fashions No. 19, III Main
Road, Madras 35 |
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5) Name and Address and description of the person entitled to the charge. |
Indian Overseas Bank Mount Road Branch, 807, Mount Road, Madras 2 |
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6) Date and brief description of instrument modifying the charge |
NA |
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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. |
NA |
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This form is for |
Modification of
charge |
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Charge
identification number of the charge to be modified |
10038557 |
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Corporate identity
number of the company |
U65991TN1986PTC012598 |
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Name of the
company |
R. R. INFOPARK
PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
R. R. Tower III, Thiru Vi Ka Industrial Estate, Guindy, Chennai
600032, Tamilnadu, India |
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Type of charge |
Immovable Property |
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Particular of
charge holder |
Corporation Bank 12, Ormes Road, Kilpauk, Kellys Corner, Chennai 600010, Tamilnadu,
India |
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Nature of
description of the instrument creating or modifying the charge |
No instrument was executed. A letter ceding pari passu charge on the immovable properties of the
company was exchanged between the banks. |
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Date of instrument
Creating the charge |
07.03.2007 |
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Amount secured by
the charge |
Rs. 500.000
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
[a] Rate of
interest Rate of interest
12.00% [b] Terms of
repayment Loan to be repaid
in trenches by conversion to Rental Loan from banks against future
receivables commencing from November 2007 but not later than June 2008 [c] Margin 47% [d] Extent and
operation of the charge Charge on the
assets of the company shall be held as security till the complete closure of
the term loan sanctioned by the bank. |
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Date of the
instrument creating the charge |
07.03.2007 |
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Description of
the instrument creating the charge |
No instrument was
executed. A letter ceding
pari passu charge on the immovable properties of the company was exchanged
between the banks. |
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Date of
acquisition of the property |
07.03.2007 |
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Amount of the
charge |
Rs. 500.000
Millions |
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Particulars of
the property charged |
All that piece
and parcel of being factory and shed and land to an extent of 165 grounds
comprised in survey nos. 425 to 428 and 429 Ambattur Village and Survey nos.
24, 26, 27, 29, 140 to 151, 154, 167 and 169 Mannurpet Village being part of
plot nos. 18, 19 and 20, Industrial Estate, Ambattur, Chennai 58 |
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Short particulars
of the property charged |
Land comprised in
industrial estate, Ambattur, Chennai 58 |
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Particulars of
the present modification |
The present modification
is towards creating pari passu charge on the
immovable properties of the company in favour of the bank. |
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 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. 42.64 |
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UK Pound |
1 |
Rs. 83.00 |
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Euro |
1 |
Rs. 66.00 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
8 |
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PAID-UP CAPITAL |
1~10 |
8 |
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OPERATING SCALE |
1~10 |
8 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
9 |
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--PROFITABILIRY |
1~10 |
7 |
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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 |
8 |
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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 |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
72 |
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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