MIRA
INFORM REPORT
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Report Date : |
16.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
RADIANT HEAT EXCHANGER PRIVATE LIMITED |
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Registered Office : |
S Block, Plot No. 116/2, MIDC, Bhosri, Pune – 411 026, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
16.01.2006 |
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Com. Reg. No.: |
021850 |
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CIN No.: [Company
Identification No.] |
U29299PN2006PTC021850 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNER09036G |
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PAN No.: [Permanent
Account No.] |
AADCR2138N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Heat Exchangers. |
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 41000 |
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Status : |
New Project |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
As at 31.03.2007, the company has no business. Subject is a new project and adequately assisted by financial
institutions and banks. Trade relations are fair. Payments are usually
correct and as per commitments. The company can be considered for your proposed small business
dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
S Block, Plot No. 116/2, MIDC, Bhosri, Pune – 411 026, Maharashtra,
India |
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Tel. No.: |
91-20-66142842 |
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Fax No.: |
91-20-27121611 |
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E-Mail : |
DIRECTORS
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Name : |
Mrs. Shibani Kishore Rajapurkar |
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Designation : |
Additional Director |
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Address : |
11, Rajyog, Adwait Nagar, Paud Road, Pune – 411 038, Maharashtra,
India |
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Date of Birth/Age : |
03.11.1959 |
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Date of Appointment : |
23.07.2007 |
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Name : |
Mr. Kishore Kamlakar Rajapurkar |
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Designation : |
Directors |
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Address : |
11, Rajyog, Adwait Nagar, Paud Road, Pune – 411 038, Maharashtra,
India |
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Name : |
Mr. Rohan Kishore Rajapurkar |
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Designation : |
Directors |
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Address : |
11, Rajyog, Adwait Nagar, Paud Road, Pune – 411 038, Maharashtra,
India |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
List of Allotment (As on 18.02.2008)
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Names of Shareholders |
No. of Shares |
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Kishore Kamlakar Rajapurkar |
1691000 |
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Rohan Kishore Rajapurkar |
79000 |
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Shibani Kishore Rajapurkar |
120000 |
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Total |
1890000 |
Equity shares Breakup (percentage of total equity)
(As on 16.07.2007)
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Category |
Percentage |
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Directors or relatives of directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Heat Exchangers. |
GENERAL
INFORMATION
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Bankers : |
Not Divulged |
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Financial Institution : |
Small Industries Development of India Jeevan Shree Building, Ground Floor, S.No. 1109, Plot No. 488, Ganeshkind
Road, Shivaji Nagar, Pune – 411 005, Maharashtra, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
L B Laddha Chartered Accountants |
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Address : |
S-116/2, MIDC, Bhosari, Pune – 411 026, Maharashtra, India |
CAPITAL STRUCTURE
(As on 16.07.2007)
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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10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
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2] Share Application Money |
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8.110 |
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3] Reserves & Surplus |
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0.000 |
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4] (Accumulated Losses) |
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(0.014) |
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NETWORTH |
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8.196 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
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2] Unsecured Loans |
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3.151 |
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TOTAL BORROWING |
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3.151 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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11.347 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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11.325 |
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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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0.000 |
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Sundry Debtors |
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0.000 |
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Cash & Bank Balances |
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2.244 |
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Other Current Assets |
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0.026 |
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Loans & Advances |
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0.008 |
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Total
Current Assets |
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2.278 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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2.447 |
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Provisions |
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0.000 |
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Total
Current Liabilities |
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2.447 |
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Net Current Assets |
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(0.169) |
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MISCELLANEOUS EXPENSES |
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0.191 |
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TOTAL |
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11.347 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
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Sales Turnover |
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0.000 |
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Other Income |
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0.000 |
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Total Income |
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0.000 |
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Profit/(Loss) Before Tax |
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(0.014) |
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Provision for Taxation |
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0.000 |
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Profit/(Loss) After Tax |
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(0.014) |
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Total Expenditure |
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0.014 |
KEY RATIOS
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PARTICULARS |
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31.03.2007 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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(0.10) |
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Return on Investment (ROI) (PBT/Networth) |
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(0.00) |
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Debt Equity Ratio (Total Liability/Networth) |
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0.68 |
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Current Ratio (Current Asset/Current Liability) |
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0.93 |
LOCAL AGENCY
FURTHER INFORMATION
Note
The Registered Address of the company has been shifted from Rajyog, 11,
Adwait Nagar, Paud Nagar, Pune – 38, Maharashtra, India to the present address
w.e.f. 01.12.2007
Form No. 8
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Corporate
identity number of the company |
U29299PN2006PTC021850 |
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Name of the
company |
RADIANT HEAT EXCHANGER PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
S Block, Plot No. 116/2, MIDC, Bhosri, Pune – 411 026, Maharashtra,
India |
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This form is for |
Creation of
charge |
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Type of charge |
·
Immovable
property ·
Book debts ·
Movable
property (not being pledge) |
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Particular of charge
holder |
Small Industries Development of India Jeevan Shree Building, Ground Floor, S.No. 1109, Plot No. 488,
Ganeshkind Road, Shivaji Nagar, Pune – 411 005, Maharashtra, India |
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Nature of
instrument creating charge |
1.
Loan
Agreement 2.
Deed of
Hypothecation 3.
No documents
executed. Mortgage by way of Deposit of title deeds. |
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Date of
instrument Creating the charge |
10.01.2008 |
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Amount secured by
the charge |
Rs.64.000
millions |
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Brief of the principal
terms an conditions and extent and operation of the charge |
·
Rate of
interest 1.
Foreign
Currency Term Loan – Interest @ 3.50% p.a. over 6 monthly LIBOR for USD\ 2.
Working
Capital Limit – SIDBI PLR with monthly rests, on daily product basis, subject
to change from time to time. Effective rate is 12.50% p.a. ·
Terms of
repayment 1.
Foreign
Currency Term Loan – 72 monthly installments after 12 months moratorium as
per schedule indicated in the loan agreement 2.
Working
Capital Limit : On Demand ·
Margin Foreign Currency Term Loan – Rs.23.000 millions Working Capital Limit – 30% on stocks and book debts” ·
Extent and
operation of the charge Exclusive charge, in favour of SIDBI, by way of Hypothecation of all
the movable assets including stocks and booj debts, both present and future
and by way of mortgage of all immovable properties, both present and future,
of the company situated on the plot of land measuring 3004 sq. mt at S-116/2,
MIDC, Bhosari, Pune. |
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Particulars of
the property charged |
Exclusive charge,
in favour of SIDBI, by way of hypothecation on all tangible movable machinery
and plant of the company together with spares, tools, accessories furniture,
fixtures, fittings, office equipment and other movables including stocks and
book debts, both present and future, and the mortgage of all the immovable
properties, both present and future, of the company situated on the plot of
admeasuring 3004 sq. mt. at S-116/2, MIDC, Bhosri, Pune. |
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.94 |
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UK Pound |
1 |
Rs.82.84 |
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Euro |
1 |
Rs.65.95 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
2 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
2 |
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--PROFITABILIRY |
1~10 |
- |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
- |
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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 |
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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29 |
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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