MIRA
INFORM REPORT
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Report Date : |
03.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
RAVILLA PRECISION ENGINEERING PRIVATE LIMITED |
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Registered Office : |
48, Aerodrome, Singanallur, Coimbatur-641005, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
28.04.2003 |
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Com. Reg. No.: |
18-10565 |
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CIN No.: [Company
Identification No.] |
U00011TZ2003PTC010565 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Petro Chemical Volves |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 46000 |
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Status : |
Yet to Commence Operations |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a 5 Years old Company but had not commenced commercial operations
till 31.03.2007. No further details or payments will be made available. The Company can be considered for any business dealings on safe and
secured terms, initially. |
LOCATIONS
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Registered Office/ Factory : |
48, Aerodrome, Singanallur, Coimbatur-641005, Tamilnadu, India |
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Tel. No.: |
91-422-2272910/ 3269966 |
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Fax No.: |
91-422-2272910 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Arun Selvaraj |
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Designation : |
Managing Director |
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Address : |
No. 10, Green Fields. Puliyakulam Road, Coimbatore-641045, Tamilnadu,
India |
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Date of Birth/Age : |
30.11.1968 |
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Date of Appointment : |
28.04.2003 |
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Name : |
Mr. Vasunthara Selvaraj |
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Designation : |
Director |
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Address : |
No. 10, Green Fields. Puliyakulam Road, Coimbatore-641045, Tamilnadu,
India |
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Date of Birth/Age : |
24.05.1941 |
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Date of Appointment : |
28.04.2003 |
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Name : |
Mr. K Selvaraj |
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Designation : |
Director |
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Date of Appointment : |
10.03.2004 |
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Name : |
Mr. Arun Mythreyi Priya |
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Designation : |
Additional Director |
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Address : |
68//737 K, Green Fields, Puliakulam Road, Coimbatore-641045,
Tamilnadu, India |
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Date of Birth/Age : |
22.05.1969 |
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Date of Appointment : |
28.04.2007 |
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Name : |
Mr. A Kasthurirangarajan |
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Designation : |
Director |
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Address : |
185, Laxmipuram, Kovilpati, -628501, Tamilnadu, India |
KEY EXECUTIVES
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Name : |
Mr. A Shanm,ugasundaram |
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Designation : |
Company Secretary |
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Mobile No. : |
91-9443042215 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Arun Selvaraj |
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149100 |
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Vasunthara Selvaraj |
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81500 |
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M Krishnaswamy |
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500 |
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K R Appaswamy Naidu |
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50000 |
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K Selvraj |
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100 |
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A Kashtru Rangarajan |
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100 |
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Total |
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281300 |
Equity Share Breakup (Percentage of Total Equity)
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 : |
Manufacturer and Exporter of Petro Chemical Volves |
GENERAL
INFORMATION
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Bankers : |
·
Indian Bank ·
Axis Bank Limited, Vigneshwar Cresta, 1095, Avinashi Road,
Pappanaickemaplayam, Coimbatore-641037, Tamilnadu, India |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Venkatesan and Company Chartered Accountant Mr. C A Venkatesan Chartered Accountant |
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Address : |
19, Edayarstreet, Coimbatore-641001, Tamilnadu, India |
CAPITAL STRUCTURE
As on 29.09.2007
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1000000 |
Equity Shares |
Rs. 10/- each |
Rs. 10.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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281400 |
Equity Shares |
Rs. 10/-
each |
Rs. 2.814
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 |
2.814 |
0.793 |
0.790 |
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2] Share Application Money |
6.468 |
0.160 |
0.002 |
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3] Reserves & Surplus |
0.002 |
0.002 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
9.284 |
0.955 |
0.792 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
2.687 |
0.316 |
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TOTAL BORROWING |
0.000 |
2.687 |
0.316 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
9.284 |
3.642 |
1.108 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
3.555 |
2.711 |
0.322 |
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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 |
0.000
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0.000 |
0.000 |
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Sundry Debtors |
0.000
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0.000 |
0.550 |
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Cash & Bank Balances |
1.763
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0.000 |
0.245 |
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Other Current Assets |
3.927
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0.000 |
0.000 |
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Loans & Advances |
0.051
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0.944 |
0.022 |
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Total
Current Assets |
5.741
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0.944 |
0.817 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
0.012
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0.013 |
0.018 |
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Provisions |
0.000
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0.000 |
0.013 |
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Total
Current Liabilities |
0.012
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0.013 |
0.031 |
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Net Current Assets |
5.729
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0.931 |
0.786 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
9.284 |
3.642 |
1.108 |
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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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0.00
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2.82 |
43.81 |
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Current Ratio (Current Asset/Current Liability) |
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478.42
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72.62 |
26.35 |
LOCAL AGENCY
FURTHER INFORMATION
Bankers Charges
Report as per Registry
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This form is for |
Creation of
charge |
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Corporate
identity number of the company |
U00011TZ2003PTC010565 |
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Name of the
company |
RAVILLA PRECISION ENGINEERING PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
48, Aerodrome, Singanallur, Coimbatur-641005, Tamilnadu, India |
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Type of charge |
Movable Property |
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Particular of
charge holder |
Axis Bank Limited, Vigneshwar Cresta, 1095, Avinashi Road,
Pappanaickemaplayam, Coimbatore-641037, Tamilnadu, India |
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Nature of
description of the instrument creating or modifying the charge |
Composite
Hypothecation Deed |
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Date of
instrument Creating the charge |
22.04.2008 |
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Amount secured by
the charge |
Rs. 60.000
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Cash Credit – PLR
– 2.45% (Presently 12.35%) Term Loan – PLR –
2.45% (Presently 12.30%) Terms of
Repayment Cash Credit
Facility – on Demand Term Loan
Facility – Principal amount repayable in 60 equal monthly installments of Rs.
0.875 Million commencing from April 2009 each after an initial holiday period
of 12 months. Interest debited to the account should be serviced separately
as and when debited. Margin Cash Credit
Facility – Raw Material, Stock In Process, Finished Goods and Packaging
Material, Stores and Spares – 25%, Book Debts ( Over Period 90 days) 50% Term Loan
Facility – 25% Extent and
Operation of the charge A All tangible
movable machinery, plant machinery, fixtures, fittings, other installation,
cranes, furnitures, computers and other accessores, vehicles, etc, lying on
the premises or godown of the borrower B All Movable
goods and assets both present and future including all stocks of raw
materials, work in process, semi finished goods and finished goods C All present and
future book debts, outstanding monies, receivables, claims, bills,
contractrs, engagement and securities now due and owing. |
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Short particulars
of the property charged |
A All tangible
movable machinery, plant machinery, fixtures, fittings, other installation,
cranes, furnitures, computers and other accessores, vehicles, etc, lying on
the premises or godown of the borrower B All Movable
goods and assets both present and future including all stocks of raw
materials, work in process, semi finished goods and finished goods C All present and
future book debts, outstanding monies, receivables, claims, bills,
contractrs, engagement and securities now due and owing. |
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.46.96 |
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UK Pound |
1 |
Rs.83.91 |
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Euro |
1 |
Rs.66.36 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
-- |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
-- |
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--PROFITABILIRY |
1~10 |
-- |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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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21 |
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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