MIRA
INFORM REPORT
|
Report Date : |
08.10.2008 |
IDENTIFICATION
DETAILS
|
Name : |
B RAMESHKUMAR METALS PRIVATE LIMITED |
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Registered Office : |
127, Gulal Wadi (Kika Street), Mumbai – 400004, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
09.04.2007 |
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Com. Reg. No.: |
11-169774 |
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CIN No.: [Company
Identification No.] |
U27101MH2007PTC169774 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMB17321D |
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PAN No.: [Permanent
Account No.] |
AADCB1103H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Importer and Traders of Non-Ferrous Metals, Sheets, Strips and Wire |
RATING &
COMMENTS
|
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 180000 |
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Status : |
New Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively new company and has registered satisfactory
business in its very first year of operations. Trade relations are fair. Business
is active. Payments are reported as usually made as per commitments. The company can be considered good for normal business dealings. |
LOCATIONS
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Registered Office : |
127, Gulal Wadi (Kika Street), Mumbai – 400004, Maharashtra, India |
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Tel. No.: |
91-22-23460086 / 23478383 / 67437272 / 67437273 |
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Fax No.: |
91-22-23421277 / 23475325 |
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E-Mail : |
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Websites : |
DIRECTORS
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Name : |
Mr. Rameshkumar Bafna |
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Designation : |
Director |
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Address : |
Flat No. C-33, Sarvodaya CHS, 1st Panjarapole Lane, Mumbai
– 400004, Maharashtra, India |
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Date of Birth/Age : |
12.06.1972 |
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Date of Appointment : |
09.04.2007 |
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Name : |
Mr. Ashokumar Bafna |
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Designation : |
Director |
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Address : |
Flat No. G-26 Sarvodaya Nagar CHS, 1st Panjarapole Lane,
Mumbai – 400004, Maharashtra, India |
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Date of Birth/Age : |
01.07.1968 |
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Date of Appointment : |
09.04.2007 |
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Name : |
Mr. Babulal Bafna |
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Designation : |
Chairman cum Director |
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Address : |
Flat No. B-34, Third Floor, Sarvodaya Nagar, CHS, 1st Panjarapole
Lane, Mumbai – 400004, Maharashtra, India |
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Date of Birth/Age : |
18.02.1965 |
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Date of Appointment : |
09.04.2007 |
KEY EXECUTIVE
|
Name : |
Mr. Vikram P Gandhi |
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Designation : |
Company Secretary |
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Address : |
5 Prem Court, Flat No. 63, 6th Floor, Peddar Road, Mumbai –
400026, Maharashtra, India |
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Tel No.: |
91-22-23515786 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Babulal Ganchmal Bafna |
|
140000 |
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Mr. Ashok Kumar Ganeshmal Bafna |
|
140000 |
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Mr. Rameshkumar Ganeshmal Bafna |
|
140000 |
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Mr. Chandraben Babula Bafna |
|
30000 |
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Mr. Jitendra Babulal Bafna |
|
30000 |
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Mr. Jayesh Babulal Bafna |
|
30000 |
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Mrs. Nirmalaben Ashok Bafna |
|
30000 |
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Mr. Jatin Ashok Bafna |
|
30000 |
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Mr. Tejas Ashok Bafna |
|
30000 |
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Mrs. Anita Rameshkumar Bafna |
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30000 |
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Mr. Vivek Rameshkumar Bafna |
|
30000 |
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Mr. Premkumar Rameshkumar Bafna |
|
30000 |
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Mr. Rupaben Ganeshmal Bafna |
|
30000 |
|
Realstone Exports |
|
20860 |
|
Yash V Jewels Limited |
|
20000 |
|
Lexus Infotech Limited |
|
20000 |
|
Alka Diamond Industries Limited |
|
20000 |
|
Vanguard Jewels Limited |
|
20000 |
|
Kush Hindustan Entertainment Limited |
|
20000 |
|
Realgold Trading Company Private Limited |
|
20000 |
|
Parktools Private Limited |
|
27500 |
|
Abhilaska Money Operations Private Limited |
|
27500 |
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Hemakuta Sugar And Allied Industries Limited |
|
28000 |
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Rigveda Properties Private Limited |
|
28000 |
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Priority Traders Private Limited |
|
28000 |
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Others |
|
140 |
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Total
|
1000000 |
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Names of Allottee [s] (As on 29.03.2008) |
No. of Shares |
|
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Realgold Trading Companies Private Limited |
20000 |
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Yash V Jewels Limited |
20000 |
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Lexus Infotech Limited |
20000 |
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Alka Diamond Industries Limited |
20000 |
|
Vanguard Jewels Limited |
20000 |
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Kush Hindustan Entertainment Limited |
20000 |
|
Parktools Private Limited |
27500 |
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Abhilasha Money Operations Private Limited |
27500 |
|
Hemakuta Sugar And Allied Industries Limited |
28000 |
|
Rigveda Properties Private Limited |
28000 |
|
Priority Traders Private Limited |
28000 |
|
Realstone Exports |
20860 |
|
Total
|
279860 |
Equity Share Breakup (percentage of total equity):-
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Category (As on: 30.09.2008) |
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Percentage of
Holding |
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Bodies corporate |
|
25.90 |
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Directors or relatives of directors |
|
72.00 |
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Other top fifty (50) shareholder |
|
2.10 |
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Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Importer and Traders of Non-Ferrous Metals, Sheets, Strips and Wire |
GENERAL
INFORMATION
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Bankers : |
HDFc Bank Limited, HDFC Bank
Housesenapati Bapat Marg, Lower Parel (West), Mumbai – 400 013, Maharashtra,
India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr. R. Tahkkar Chartered Accountants |
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Address : |
77/78 Commercial Chambers, 6th Floor, Yusuf Meherali Road,
Mumbai – 400 003, Maharashtra, India |
CAPITAL STRUCTURE
As on 30.09.2008:-
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs. 10/- each |
Rs.10.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs. 10/- each |
Rs.10.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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|
10.000 |
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2] Share Application Money |
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|
0.000 |
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3] Reserves & Surplus |
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24.466 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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34.466 |
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LOAN FUNDS |
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1] Secured Loans |
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43.095 |
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2] Unsecured Loans |
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|
10.255 |
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TOTAL BORROWING |
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|
53.350 |
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DEFERRED TAX LIABILITIES |
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|
0.025 |
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TOTAL |
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87.841 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.450 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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50.068 |
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Sundry Debtors |
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|
56.829 |
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Cash & Bank Balances |
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|
0.210 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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13.861 |
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Total
Current Assets |
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120.968 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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33.664 |
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Provisions |
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|
0.000 |
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Total
Current Liabilities |
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33.664 |
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Net Current Assets |
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87.304 |
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MISCELLANEOUS EXPENSES |
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0.087 |
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TOTAL |
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87.841 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
|
09.04.2008 to 31.03.2008 |
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Sales Turnover |
|
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279.372 |
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Other Income |
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|
0.003 |
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Total Income |
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279.375 |
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Profit/(Loss) Before Tax |
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3.079 |
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Provision for Taxation |
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|
1.002 |
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Profit/(Loss) After Tax |
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2.077 |
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Import Value |
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207.464 |
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Expenditures : |
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Purchases |
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264.023 |
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Admin and General Expenses |
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7.651 |
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Financial Charges |
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4.599 |
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Depreciation & Amortization |
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|
0.023 |
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Total Expenditure |
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276.296 |
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KEY RATIOS
|
PARTICULARS |
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|
31.03.2008 |
|
PAT / Total Income |
(%) |
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0.74 |
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Net Profit Margin (PBT/Sales) |
(%) |
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1.10 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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2.54 |
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Return on Investment (ROI) (PBT/Networth) |
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0.09 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.52 |
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Current Ratio (Current Asset/Current Liability) |
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3.59 |
LOCAL AGENCY FURTHER
INFORMATION
FORM 8:-
|
Corporate
identity number of the company |
U27101MH2007PTC169774 |
|
Name of the
company |
B. RAMESHKUMAR
METALS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
127, Gulal Wadi (Kika Street), Mumbai – 400004, Maharashtra, India |
|
This form is for |
Modification of
charge |
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Type of charge |
· Book Debts · Movable property · Floating Charge |
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Particular of
charge holder |
HDFC Bank
Limited, HDFC Bank housesenpati Bapat Marg, Lower Parel (West), Mumbai – 400
013, Maharashtra, India E-Mail: RBBform8@hdfcbank.com cIN : L65920MH1994PLC080618 |
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Nature of instrument
creating charge |
Supplemental
memorandum relating to hypothecation of stocks book debts and machinery. |
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Date of
instrument Creating the charge |
19.07.2008 |
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Amount secured by
the charge |
Rs. 50.000
millions |
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Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest : Interest at the
rate as may be communicated by the bank from time to time. Terms of Repayment : On demand Margin : Company shall at
all times during the continuance of this security maintain the said debts of
a sufficient amount to provide the margin of security as may from time to
time advised by the bank. Extent and Operation of the charge : Hypothecation by
way of First Charge on Stock , book debts and machinery to secure as a
continuing security for repayment of monies due and payable by the company to
the bank. Others : NIL |
|
Particulars of
the present modification |
The bank having at
the request of Company has agreed to increased credit facility, therefore
hypothecation charge increased from Rs. 40.000 millions to Rs. 50.000
millions. |
WEBSITE DETAILS:-
They are in this line
last 50 years and have been supplying to various industries
covering Automotive, Computers, Defence, Domestic, Engineering,
Electrical, Garments, General, Lock and Key Manufacturers etc. to their
satisfaction on qualities and prompt deliveries. Their aim has always been
competitive market rates with assured delivery.
Their motto is a reliability, quality awareness and price affordability with an
eye for customer satisfaction. Their Company is one of the leading stockist of
Brass, Copper and P.B.Strips / Sheets in the field of Non-Ferrous Metals.
They are a Selling Agents for Western Region of M/s.HULAS WIRE INDUSTRIES
LIMITED, NEPAL, a leading ISO 9001:2000 certified company. They are
technically very well advanced, Manufacturing Brass Strips in Coil and Sheet
form in composition of 64/34,65/35,70/30 etc. in various sizes as per customers
requirement.
They also import Copper Foils/Strips and keep stock of P.B.Strips/ Sheets in
various sizes as per customer requirements.
They always make conscious efforts to build a close and healthy business
relationship with their valued customers. This has helped them in creating them
in creating mutual trust with repeat orders.
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.48.01 |
|
UK Pound |
1 |
Rs.84.16 |
|
Euro |
1 |
Rs.65.20 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
34 |
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 |
|
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 |
|