MIRA
INFORM REPORT
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Report Date : |
27.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
ARIHANT ROTO PRODUCTS PRIVATE LIMITED |
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Registered Office : |
Vill, Meharban Seera Road, Rahon Road, Ludhiana – 141 007, Punjab |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
21.11.1997 |
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Com. Reg. No.: |
16-20738 |
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CIN No.: [Company
Identification No.] |
U25209PB1997PTC020738 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
JLDA00850D |
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PAN No.: [Permanent
Account No.] |
AABCA9498G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Multilayer Water Storage Tanks and Containers |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 7000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a small company having steady business and moderate track. Profit margin is very low. Financial position is moderate. The company can be considered for small to mediocre business dealings
at usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Sudhir Jain |
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Designation : |
Partner |
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Contact No.: |
91-9872551000 |
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Date : |
24.11.2008 |
LOCATIONS
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Registered Office/Factory : |
Vill, Meharban Seera Road, Rahon Road, Ludhiana – 141 007, Punjab,
India |
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Tel. No.: |
91-161-2691719 / 5093900 |
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Mobile No.: |
91-9872551000 |
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Fax No.: |
91-161-2691719 |
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E-Mail : |
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Website : |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Sudhir Jain |
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Designation : |
Director |
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Address : |
1371, Circuit House Road, Gobind Nagar, Ludhiana – 141 001, Punjab,
India |
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Date of Birth/Age : |
31.10.1976 |
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Qualification : |
Graduate |
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Date of Appointment : |
21.11.1997 |
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Name : |
Mr. Shanti Jain Sarup |
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Designation : |
Director |
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Address : |
1371, Circuit House Road, Gobind Nagar, Ludhiana – 141 001, Punjab,
India |
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Date of Birth/Age : |
18.08.1954 |
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Qualification : |
Graduate |
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Date of Appointment : |
03.11.2005 |
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Name : |
Mr. Surinder Mohan |
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Designation : |
Director |
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Address : |
11, Sidh Peeth Marg, Civil Lines, Ludhiana – 141 001, Punjab, India |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 29.09.2007)
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Names of Shareholders |
No. of Shares |
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Sudhir Jain |
16010 |
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Surinder Mohan Jain |
22010 |
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Ashwani Jain |
16400 |
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Kavita Jain |
3900 |
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Satyawati Jain |
10000 |
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Kiran Jain |
3000 |
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Shanti Sarup Jain |
5800 |
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Shubh Karan Jain |
14000 |
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Rama Jain |
6000 |
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Shanti Sarup and Sons (HUF) |
6900 |
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Ashwani Kumar and Sons (HUF) |
6800 |
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Shammi Kumar and Sons (HUF) |
7100 |
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Shubh Karan Jain (HUF) |
7000 |
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Total |
124920 |
Equity shares Breakup (percentage of total equity)
(As on 30.09.2007)
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Category |
Percentage |
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Directors or relatives of directors
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100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Multilayer Water Storage Tanks and Containers |
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Products : |
·
Troughs ·
Chemical Multipurpose Container (Open Top
Round Container) ·
Doffing Basket ·
Heavy Duty Bucket ·
Coiler Cans for Rope Dyeing ·
Multipurpose Trolley with Containers
(Plastic Hampers) ·
Wheel Barrow ·
Processing Containers ·
Auto Coner Trolley ·
Ventilated Pallet ·
Washing Mixing Tub |
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Terms : |
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Selling : |
Cash |
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Purchasing : |
Cash |
GENERAL
INFORMATION
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Customers : |
·
Wholesalers ·
Retailers ·
OEM’s |
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No. of Employees : |
17 (In Office 2 and In Factory 15) |
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Bankers : |
Allahabad Bank Vardhman Branch,
Chandigarh Road, Ludhiana, Punjab, India |
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Facilities : |
CC Rs.1.600 millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Harwinder Singh and Company Chartered Accountants |
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Address : |
244-A, Sarabha Nagar, Pakhowal Road, Ludhiana – 141 001, Punjab, India
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CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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150000 |
Equity Shares |
Rs.10/- each |
Rs.1.500 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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124920 |
Equity Shares |
Rs.10/- each |
Rs.1.249
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 |
1.249 |
1.249 |
1.249 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.167 |
0.148 |
0.084 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1.416 |
1.397 |
1.333 |
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LOAN FUNDS |
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1] Secured Loans |
0.954 |
0.509 |
0.758 |
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2] Unsecured Loans |
3.492 |
3.506 |
3.203 |
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TOTAL BORROWING |
4.446 |
4.015 |
3.961 |
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DEFERRED TAX LIABILITIES |
0.140 |
0.131 |
0.118 |
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TOTAL |
6.002 |
5.543 |
5.412 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.916 |
2.197 |
2.441 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
1.757
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1.071 |
0.919 |
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Sundry Debtors |
2.076
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1.930 |
1.962 |
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Cash & Bank Balances |
0.302
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0.432 |
0.304 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
0.601
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0.585 |
0.819 |
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Total
Current Assets |
4.736
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4.018 |
4.004 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
0.597
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0.624 |
1.011 |
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Provisions |
0.054
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0.050 |
0.026 |
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Total
Current Liabilities |
0.651
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0.674 |
1.037 |
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Net Current Assets |
4.085
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3.344 |
2.967 |
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MISCELLANEOUS EXPENSES |
0.001 |
0.002 |
0.004 |
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TOTAL |
6.002 |
5.543 |
5.412 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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7.463 |
6.378 |
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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3.60
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3.36 |
3.75 |
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Current Ratio (Current Asset/Current Liability) |
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7.27
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5.96 |
3.86 |
LOCAL AGENCY
FURTHER INFORMATION
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Additional Requirement
of Indiamart for Trust-Seal |
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Service Tax No. : -- |
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Excise Registration No.: -- |
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VAT / TIN : 03671033171 |
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IEC Code : -- |
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PAN / TAN : AABCA9498G |
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Bank Name : Allahabad Bank |
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Bank Address : Ludhiana |
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Bank A/c. No.: 20173507423 |
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Account Since : 10 Years |
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In case of any affiliations / memberships / certifications : |
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Name : ISO |
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Type : 9001:2000 |
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Expiry Date : 2010 |
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Trade References
·
Haldia Petro Chemical Limited – Ludhiana
·
Aggarwal Trading Company - Ludhiana
Form No. 8
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Name of the company |
ARIHANT ROTO PRODUCTS PRIVATE LIMITED |
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Presented By |
Sudhir Jain,
Director |
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1) Date and description of instrument creating the change |
General Letter of
hypothecation applicable in the case of limited liability company dated
07.12.2005 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.1.600 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 |
Hypothecation of
stock and book debts EM of land and building of factory situated at Village Meharban,
Tehsil and District Ludhiana bearing Khasra No. 7/25, Khatta No.37/37 as per
Jamabandi Year 1999-2000 in the name of Shanti Sarup S/o Mr. Ved Prakash |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of interest
PLR – 2% i.e. 9% p.a. based on risk crediting. Repayable on demand. Margin
25% on stock and 50% on book debts |
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5) Name and Address and description of the person entitled to the charge. |
Allahabad Bank Vardhman Branch,
Chandigarh Road, Ludhiana, Punjab, India |
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6) Date and brief description of instrument modifying the charge |
Not Available |
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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. |
Not Available |
Fixed Assets
·
Building
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Furniture and Fixture
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Plant and Machinery
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Vehicles
Web Details
Profile
Manufacturer of multilayer water and material storage tanks/containers is
serving the market for more than a decade is poineer in the field. Subject was
founded by Mr.Shanti Sarup Jain and Mr.Sudhir Jain to serve the market with
economical and quality storage products. Subject is one of the companies in
Storage tanks/container segment in India. Today Kuber and Arihant has become a
household name in the multilayer water and material storage tanks/containers.
The company is touching new heights under the dynamic leadership of Mr. Sudhir
Jain and is now diversifying its business in plastic Moulded doors and Plastic
Crates.
Subject
has well equipped plant with all facilities to supports our production jobs
with qualified workforce and professionals.
Kuber: - Multiplayer water and material storage tanks/containers are the
result of many years of practical experience in this line. These polyethylene
Storage tanks/containers are Moulded from high quality LLDPE (Raw Material FDA
Approved).
They very proudly boast of the policy of never ever
getting satisfied while striving for the achievement of quality norms.
With all this the results are in front of them. In a very short span of time
Kuber have notched up a respectable position in the market. This they have been
able to achieve due to the result of state of the art technology, in house R
and D efforts and a passion to deliver the best possible.
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.49.85 |
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UK Pound |
1 |
Rs.76.60 |
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Euro |
1 |
Rs.64.68 |
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 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
4 |
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--CREDIT LINES |
1~10 |
4 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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38 |
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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