MIRA
INFORM REPORT
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Report Date : |
13.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
RAJDEEP BUILDCON PRIVATE LIMITED |
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Registered Office : |
Rajdeep House, Savedi, Ahmednagar – 414 001, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
14.08.1997 |
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Com. Reg. No.: |
11 - 110101 |
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CIN No.: [Company
Identification No.] |
U45202PN1997PTC110101 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNER09367B PNER05483C |
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PAN No.: [Permanent
Account No.] |
AAACR8605D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject is engaged in Construction Activities. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
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Maximum Credit Limit : |
USD 1314815 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is well established and reputed company having satisfactory
track. Trade relations are fair. Business is active. General financial
position is good. Payments are reported as usually correct and as per commitments. The company can be considered good for normal business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. B M Kulkarni |
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Designation : |
Assistant Manager |
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Contact No.: |
91-9325115065 |
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Date : |
10.09.2008 |
LOCATIONS
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Registered Office : |
Rajdeep House, Savedi, Ahmednagar – 414 001, Maharashtra, India |
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Tel. No.: |
91-241-2424072/ 2424101/ 2423631 |
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Mobile No.: |
91-9325115065 |
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Fax No.: |
91-241-2425812 |
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E-Mail : |
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Website : |
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Area : |
5000 Sq. ft. |
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Location : |
Owned |
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Divisional Office : |
Bunglow No. 4, Liberty Society II, North Main Road, Koregaon Park,
Pune – 411 001, Maharashtra, India |
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Tel. No.: |
91-20-26052700/ 26053840 |
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Fax No.: |
91-20-26053844 |
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Area : |
10000 Sq. ft. |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Dilip Popatlal Dhadiwal |
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Designation : |
Director |
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Address : |
Abhijeet Apartments, Ganesh Colony, Savedi, Ahmednagar – 414 001,
Maharashtra, India |
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Date of Birth/Age : |
11.07.1967 |
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Qualification : |
Civil Engineer |
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Date of Appointment : |
14.08.1997 |
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Name : |
Mr. Kishore Popatlal Dhadiwal |
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Designation : |
Director |
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Address : |
Abhijeet Apartments, Ganesh Colony, Savedi, Ahmednagar – 414 001,
Maharashtra, India |
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Date of Birth/Age : |
05.05.1962 |
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Qualification : |
B. Com |
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Date of Appointment : |
22.08.1998 |
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Name : |
Mr. Rajesh Mannalal Katariya |
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Designation : |
Director |
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Address : |
Plot No. 3, S. No. 25 – 2, Bhist Baug, Savedi, Ahmed Nagar – 414 001,
Maharashtra, India |
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Date of Birth/Age : |
25.08.1970 |
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Qualification : |
Civil Engineer |
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Date of Appointment : |
14.08.1997 |
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Name : |
Mrs. Seema Dilip Dhadiwal |
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Designation : |
Director |
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Address : |
Abhijeet Apartments, Ganesh Colony, Savedi, Ahmednagar – 414 001,
Maharashtra, India |
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Date of Birth/Age : |
17.02.1971 |
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Qualification : |
B. Com |
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Date of Appointment : |
01.01.2003 |
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Name : |
Mr. Javahar Hastimal Katariya |
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Designation : |
Nominee Director |
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Address : |
Shri Ganesh Gulmahor Road, Near Kalasagar Chowk, Savedi, Ahmed Nagar –
414 001, Maharashtra, India |
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Date of Appointment : |
25.08.2005 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 30.09.2005
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Names of Shareholders |
No. of Shares |
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Mr. Dilip Popatlal Dhadiwal |
16406 |
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Mr. Rajesh Mannalal Katariya |
20900 |
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Mr. Kishore Popatlal Dhadiwal |
15350 |
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Mr. Popatlal Gulabchand Dhandiwal |
3900 |
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Mrs. Gulabbai Popatlal Dhadiwal |
7200 |
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Mrs. Sangita Kishore Dhadiwal |
4200 |
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Mrs. Seema Dilip Dhadiwal |
3150 |
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Mrs. Savita Rajesh Katariya |
1200 |
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Rajdeep Road Developers Private Limited |
58790 |
Equity share breakup (Percentage of total equity)
As on 31.03.2007
|
Sr. No. |
Category |
Percentage |
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1. |
Bodies Corporate (not mentioned above) |
81.79 |
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2. |
Directors or relatives of directors |
18.21 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged in Construction Activities. |
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Imports : |
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Countries : |
v China v Gulf Countries |
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Terms : |
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Purchasing : |
Cash and Credit ( 30 days) |
GENERAL
INFORMATION
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Customers : |
v Wholesalers v Retailers v End Users |
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No. of Employees : |
Total : 400 (Office : 200, Branch Office : 200) |
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Bankers : Financial
Institution : |
v ICICI Bank Savedi Branch v L and T Finance
Limited L and T House, Ballard Estate, Mumbai – 400 001, Maharashtra, India |
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Facilities : |
CC – Rs. 100.000 millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Girish Ghaisas and Associates Chartered Accountants |
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Address : |
303, Prerana Arcade, Opp. Tarakpur Bus Stand, Ahmed Nagar – 414 001,
Maharashtra, India |
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Sister Concerns : |
v Rajdeep
Publicity Private Limited Address: Rajdeep House,
Savedi, Ahmednagar – 414 001, Maharashtra, India v Rajdeep Infotech
Private Limited |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000 |
Equity shares |
Rs. 100/- each |
Rs. 20.000 millions |
|
300000 |
Preference shares |
Rs. 100/- each |
Rs. 30.000 millions |
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Total |
|
Rs. 50.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
132446 |
Equity shares |
Rs. 100/-
each |
Rs. 13.245 millions |
|
272135 |
Preference shares |
Rs. 100/- each |
Rs. 27.213 millions |
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Total |
|
Rs. 40.458 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
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 |
40.458 |
40.458 |
13.109 |
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2] Share Application Money |
0.000 |
0.000 |
109.525 |
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3] Reserves & Surplus |
222.505 |
190.037 |
60.503 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
262.963 |
230.495 |
183.137 |
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LOAN FUNDS |
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1] Secured Loans |
115.270 |
50.321 |
36.790 |
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2] Unsecured Loans |
67.793 |
91.148 |
0.000 |
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TOTAL BORROWING |
183.063 |
141.469 |
36.790 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
446.026 |
371.964 |
219.927 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
85.529 |
70.843 |
32.771 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
138.769 |
200.903 |
84.568 |
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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 |
84.329
|
58.142 |
40.780 |
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Sundry Debtors |
139.960
|
131.878 |
78.213 |
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Cash & Bank Balances |
40.413
|
22.868 |
10.496 |
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Other Current Assets |
41.677
|
23.769 |
3.099 |
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Loans & Advances |
64.395
|
23.942 |
23.704 |
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Total
Current Assets |
370.774
|
260.599 |
156.292 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
120.803
|
136.512 |
43.960 |
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Provisions |
28.364
|
24.006 |
9.747 |
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Total
Current Liabilities |
149.167
|
160.518 |
53.707 |
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Net Current Assets |
221.607
|
100.081 |
102.585 |
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MISCELLANEOUS EXPENSES |
0.120 |
0.137 |
0.003 |
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TOTAL |
446.026 |
371.964 |
219.927 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
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Sales Turnover |
|
178.005 |
133.024 |
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Total Income |
|
178.005 |
133.024 |
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Profit/(Loss) Before Tax |
|
65.672 |
57.928 |
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Provision for Taxation |
|
0.000 |
0.000 |
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Profit/(Loss) After Tax |
|
65.672 |
57.928 |
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Expenditures : |
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Depreciation & Amortization |
|
14.796 |
11.185 |
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Other Expenditure |
|
97.537 |
63.911 |
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Total Expenditure |
|
112.333 |
75.096 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
36.84
|
43.55 |
-- |
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Net Profit Margin (PBT/Sales) |
(%) |
36.84
|
43.55 |
-- |
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Return on Total Assets (PBT/Total Assets} |
(%) |
36.84
|
43.55 |
-- |
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Return on Investment (ROI) (PBT/Networth) |
|
0.25
|
0.25 |
-- |
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Debt Equity Ratio (Total Liability/Networth) |
|
0.57
|
0.70 |
0.29 |
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Current Ratio (Current Asset/Current Liability) |
|
2.49
|
1.62 |
2.91 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References
v
Syzlon Energy Limited – Pune
v
Zameel Steels Limited – Pune
v
Eton Private Limited - Pune
Form 8
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Name of the company |
Rajdeep Buildcon Private Limited |
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Presented By |
Mr. D P Dhadiwal |
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1) Date and description of instrument creating the change |
No. 0003/ T44103486 dated 04.01.2006 as
annexed hereto |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 0.467 million |
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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 |
No Mixer 10/7, One Weigh Batcher and one tough rider. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Hypothecation of Equipments as per above and all documents of the title in respect of equipments owned by the borrower. Term Loan for 36 months and Rs. 0.467 million margin 14641/- each for 36 months payable to the lender as per term loan sanction letter dated 22.11.2005 and loan cum hypothecation agreement dated 22.01.2005 |
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5) Name and Address and description of the person entitled to the charge. |
v L and T Finance
Limited L and T House, 802, Swastik Chambers, CST Road, Chembur, Mumbai – 400 071, Maharashtra, India |
Form 8
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This form is for |
Creation of charge |
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Corporation identity number (CIN) or foreign company registrations number of the company |
U45202MH1997PTC110101 |
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Name of the company |
RAJDEEP BUILDCON PRIVATE LIMITED |
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Address |
Rajdeep House, Savedi, Ahmednagar – 414 001, Maharashtra, India |
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Type of Charges |
v Movable property (not being pledge) |
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Particular of the charge holder |
CIN : L63040DL1985PLC021324 Name : GE Capital Transportation Financial Services Limited Address: AIFACS Building, 1, Rafi Marg City: New Delhi ISO country code: IN Pin code: 110 001 e-mail ID: devinder.jain@ge.com |
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Nature or description of the instrument creating or modifying the charge |
As per master security and loan agreement dated 15.02.2008 |
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Date of the instrument creating charge |
15.02.2008 |
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Whether charge created or modified outside India |
No |
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Amount Secure by the charge |
Rs. 1.275 millions |
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Brief particulars of the principal terms and conditions and extent and operation of the charge |
Rate of Interest Flat rate 5.17% p.a. Terms of repayment Recoverable in 35 installments of Rs. 0.042 million Margin As per master security and loan agreement dated 15.02.2008 Extent and operation of the charge 100% on asset |
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Short particulars of the Property charged |
Funding on One No. Universal Batching Plant 15 Cum. |
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Whether any of the property or interest therein under reference is not registered in the name of the company |
No |
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 :
The 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.
The 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. 45.77 |
|
UK Pound |
1 |
Rs. 80.67 |
|
Euro |
1 |
Rs. 64.20 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
7 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
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--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
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 |
|
MERIT POINTS |
|
|
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
58 |
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, they have no basis upon which to
recommend credit dealings |
No Rating |
|