MIRA
INFORM REPORT
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Report Date : |
23.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
RT OUTSOURCING SERVICES LIMITED |
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Registered Office : |
D -1/3, Okhla Industrial Area, Phase Il, New Delhi -110 020 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
28.02.2001 |
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Com. Reg. No.: |
55-109841 |
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CIN No.: [Company
Identification No.] |
U72100DL2001PLC109841 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELR08513B / DELR09609F |
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PAN No.: [Permanent
Account No.] |
AABCR7753B |
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Legal Form : |
A closely held Public Limited Liability Company |
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Line of Business : |
Provider of Technical Support
and Reverse Logistics services |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USd 600000 |
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Status : |
Good |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well – established company having satisfactory track. Trade
relations are fair. General financial position is satisfactory. Payments are
usually correct and as per commitments. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
LOCATIONS
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Registered Office/ Corporate Office : |
D -1/3, Okhla Industrial Area, Phase Il, New Delhi -110 020, India |
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Tel No.: |
91-11-41610760-61 |
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Fax No.: |
91-11-41615448 |
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E-Mail : |
anurag.sharma@rteservices.com |
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Website : |
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Head Office: |
D 158,Okhla Phase I. |
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Tel No.: |
91-11-46694100 / 41610760 / 41610761 |
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Regional Offices: |
Bangalore 2nd Floor, Sunbeam, Phone : 91-80-23578807, 23577509 Fax : 91-80-51283020 No-62,3rd Cross, Industrial Suburb, Phone : 91- 80- 40505222 Mumbai Mahajan Compound, Behind Union Bank Phone : 91-22-40497530, 022-40497500 Kolkata 2, Ripon Street, Phone : 91-33-22277894, 24654238 |
DIRECTORS
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Name : |
Mr. Sanjeev Kakar |
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Designation : |
Director |
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Address : |
Flat 4157, Sector – B – 5 and 6, Vasant Kunj, New Delhi – 110 070,
India |
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Date of Birth/Age : |
17.01.1965 |
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Date of Appointment : |
28.02.2001 |
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Name : |
Mr. Natrajan Ramani |
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Designation : |
Director |
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Address : |
Flat No. 3, Candheep 25 Raghavaiah Road, T Nagar, Chennai – 600 017,
Tamil Nadu, India |
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Date of Birth/Age : |
18.12.1950 |
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Date of Cessation : |
20.09.2007 |
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Name : |
Mr. Shammi Moza |
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Designation : |
Director |
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Address : |
F -27, Medha Aprtment, Mayur Viohar, Delhi, India |
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Date of Birth/Age : |
20.04.1963 |
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Date of Appointment : |
28.02.2001 |
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Name : |
Mr. Ashwani dHar |
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Designation : |
Director |
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Address : |
20, Lower Mothi, Lakshmi Nagar, Jammu Tavi Jammu and Kashmir , India |
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Date of Birth/Age : |
28.12.1970 |
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Date of Appointment : |
15.07.2005 |
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Name : |
Mr. Ashish Khare |
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Designation : |
Director |
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Address : |
SIDbI Venture Capital Limited, 105-107, 10th
Floor, Jolly Maker Chambers, Nariman Point , Mumbai – 400 021, Maharashtra,
India |
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Date of Birth/Age : |
21.03.1970 |
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Date of Appointment : |
29.12.2003 |
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Name : |
Mr. B Sudhakar Shetty |
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Designation : |
Director |
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Address : |
Can Bank Venture Capital Fund
Limited , 6th Floor, Naveen Complex, No. 14, M G Road, Bangalore -
560 001, Karnataka, India |
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Date of Birth/Age : |
20.03.1950 |
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Date of Appointment : |
23.05.2005 |
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Name : |
Mr. V V kamath |
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Designation : |
Director |
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Address : |
Can Bank Venture Capital Fund
Limited , 6th Floor, Naveen Complex, No. 14, M G Road, Bangalore -
560 001, Karnataka, India |
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Date of Birth/Age : |
27.07.1946 |
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Date of Appointment : |
29.12.2003 |
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Date of Cessation : |
23.05.2005 |
KEY EXECUTIVES
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Name : |
Mr. P K Garg |
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Designation : |
Company Secretary |
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Address : |
24/8, Ashok Nagar, New Delhi, India |
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Date of Birth/Age : |
01.03.1962 |
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Date of Appointment : |
20.12.2004 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders (As on 27.03.2006) |
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No. of Shares |
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Mr. Ashwani Dhar |
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4000 |
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Mr. Bhagwati Prasad |
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1500 |
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Mr. Suresh Moza |
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200 |
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Mr. Sanjeev Langoo |
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500 |
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Mr. Manish Kukreja |
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1000 |
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Mr. Randhir Putran |
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500 |
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Mr. Sandeep Bakshi |
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500 |
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Mr. Pradeep Kumar Yadav |
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500 |
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Mrs. Kanchan Saxena |
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200 |
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Mr. Deepak Bhardwaj |
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500 |
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Mr. Arvind Raina |
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500 |
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Mr. Sumit Sharma |
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2000 |
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Mr. Kamlesh Kumar |
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200 |
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Mr. Sharad Verma |
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200 |
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Mr. Anshuman Kuda |
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500 |
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Mr. Ashish Koul |
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500 |
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Mr. Rajiv Chauhan |
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200 |
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Mr. Mohd. Aftaf Alam Faruki |
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500 |
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Mr. Ashutosh Saran |
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200 |
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Mr. Anil Rikke |
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1500 |
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Mr. Maneesh Koul |
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2000 |
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Mr. Bakshi Gulam Mohd. |
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500 |
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Mr. Atul Gupta |
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1000 |
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Mr. Rajesh Goel |
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1500 |
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Mr. Anil Kumar S M |
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200 |
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Mrs Geetika Sharma |
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2000 |
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Mr. Sanjay Pandita |
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1000 |
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Mr. Sanjay Pandita |
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2000 |
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Mr. Kawar Lakra |
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300 |
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Mr. Debabrata Mishra |
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500 |
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Mr. Debabrata Mishra |
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1500 |
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Mr. Pumesh Raina |
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2000 |
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Mr. Pumesh Raina |
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1000 |
BUSINESS DETAILS
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Line of Business : |
Provider of Technical
Support and Reverse Logistics services |
GENERAL
INFORMATION
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No. of Employees : |
Around 150 |
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Bankers : |
· Bank of India, Nehru Place, New Delhi – 110 019, India · Citibank NA, Jeevan Vihar, 3 Sansad Marg, New Delhi – 110 001, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Arora and Bansal (Mr. Hari Krishna Gupta) Chartered Accountants |
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Address : |
1401, Vikram Tower, 16 Rajendra Place, New Delhi – 110 008, India |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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7100000 |
Equity Shares |
Rs. 10/- each |
Rs. 71.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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3583936 |
Equity Shares |
Rs. 10/- each |
Rs.35.839
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 |
35.839 |
34.699 |
33.247 |
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2] Share Application Money |
0.279 |
0.000 |
0.000 |
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3] Reserves & Surplus |
82.997 |
65.136 |
57.338 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
119.115 |
99.835 |
90.585 |
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LOAN FUNDS |
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1] Secured Loans |
111.147 |
27.769 |
15.713 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.112 |
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TOTAL BORROWING |
111.147 |
27.769 |
15.825 |
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DEFERRED TAX LIABILITIES |
7.789 |
5.860 |
0.000 |
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TOTAL |
238.051 |
133.464 |
106.410 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
84.512 |
54.423 |
49.204 |
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Capital work-in-progress |
0.000 |
1.268 |
0.981 |
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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 |
10.502
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6.944 |
4.786 |
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Sundry Debtors |
137.031
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71.592 |
45.230 |
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Cash & Bank Balances |
45.961
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22.381 |
20.538 |
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Other Current Assets |
15.684
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7.702 |
8.162 |
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Loans & Advances |
8.122
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6.254 |
4.563 |
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Total
Current Assets |
217.300
|
114.873 |
83.279 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
43.089
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28.734 |
24.171 |
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Provisions |
20.672
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8.366 |
2.883 |
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Total
Current Liabilities |
63.761
|
37.100 |
27.054 |
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Net Current Assets |
153.539
|
77.773 |
56.225 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
238.051 |
133.464 |
106.410 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
449.217 |
270.457 |
180.476 |
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Other Income |
0.372 |
3.414 |
1.969 |
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Total Income |
449.589 |
273.871 |
182.445 |
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Profit/(Loss) Before Tax |
36.210 |
17.002 |
8.989 |
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Provision for Taxation |
12.535 |
5.259 |
[0.284] |
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Profit/(Loss) After Tax |
23.675 |
11.743 |
9.273 |
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Export Value |
58.887 |
39.617 |
NA |
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Expenditures : |
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Raw Material Consumed |
48.012 |
56.273 |
18.705 |
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Purchases made for re-sale |
NA |
NA |
30.087 |
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Consumption of stores and spares parts |
68.533 |
29.459 |
NA |
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Salaries, Wages, Bonus, etc. |
181.572 |
107.734 |
2.871 |
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Managerial Remuneration |
5.525 |
4.614 |
4.447 |
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Payment to Auditors |
0.745 |
0.645 |
0.525 |
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Interest |
6.566 |
2.738 |
2.226 |
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Insurance Expenses |
0.956 |
0.536 |
0.459 |
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Power & Fuel |
1.441 |
0.903 |
0.502 |
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Depreciation & Amortization |
7.646 |
4.930 |
NA |
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Other Expenditure |
92.384 |
49.036 |
113.634 |
|
|
|
413.38 |
256.868 |
NA |
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Total Expenditure |
413.379 |
256.869 |
173.456 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
5.27
|
4.29 |
5.08 |
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Net Profit Margin (PBT/Sales) |
(%) |
8.06
|
6.29 |
4.98 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
11.99
|
9.97 |
6.74 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.30
|
0.17 |
0.09 |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.47
|
0.65 |
0.47 |
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Current Ratio (Current Asset/Current Liability) |
|
3.41
|
3.10 |
3.08 |
LOCAL AGENCY
FURTHER INFORMATION
FORM 8:-
|
Corporate
identity number of the company |
U72100DL2001PLC109841 |
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Name of the
company |
RT OUTSOURCING SERVICES
LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
D -1/3, Okhla Industrial Area, Phase Il, New Delhi -110 020, 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 · Others |
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Particular of
charge holder |
Citi Bank Na Address : Jeevan
Vihar, 3 Sansad Marg, New Delhi – 110 001, India E-mail: vlaxman@vsnl.com |
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Nature of instrument
creating charge |
Term Loan
Agreement |
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Date of
instrument Creating the charge |
24.05.2007 |
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Amount secured by
the charge |
Rs. 15.000
millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest : As defined in
agreement referred to in clause No. 8 above. Terms of Repayment : Repayable on
demand other terms governed by the agreement referred to ni clause no. 8
above. Margin : Governed by the
agreement referred to in clause No. 8 above Extent and Operation of the charge : · First exclusive charge on stock and book debts of the company · Exclusive Charge on all fixed assets of the company along with EM of properties
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Short Particulars
of the property charged |
· First exclusive charge on stock and book debts of the company · Exclusive Charge on all fixed assets of the company along with EM of properties
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notes:-
The Registered Address of the company was 22 Community Centre, East of Kailash, New Delhi – 110 065, India change to present Registered Address w.e.f 22.06.2006
WEBSITE DETAILS:-
business
Subject is India’s leading provider of Technical Support
and Reverse Logistics services for Original Equipment Manufacturers,
EMS Companies, Outsourcers, Distributors,
Large Corporation and Retail Chains.
Subject engages as a partner to Fortune 500 companies in IT, Telecom and
CE space and manages end-to-end technical support, customer care, warranty
services, Helpdesk and managed services, repair and refurbishment, project roll
- outs etc. which meet strenuous service levels committed by the clients to
their customers. Subject single window solutions to all the needs for warranty
support ensures that clients can focus on their core competence and increase
customer satisfaction.
company profile
Subject is India’s leading provider of Technical
Support and Reverse Logistics Services for Original Equipment Manufacturers,
EMS Companies, Distributors
and Retail
Chains.
Subject offers Integrated Aftermarket Service Solutions for warranty
support to leading Multinationals and Fortune 500 Companies. The company
provides client specific customized helpdesk services integrated with over 125
service centers and backend refurbishment centers for seamless product support
with quick turnaround, top-quality workmanship, and competitive prices.
The company, with state-of-the-art
Call Center and Technical Excellence Center in New Delhi, provides 24X7 customer service solutions through highly
skilled Service Engineers, dedicated to the clients business model, products
and their customer's needs.
The benefits include dramatic reduction in costs, enhanced customer
loyalty, direct competitive advantage, scalability and convenience to the
customer.
Their premium partnerships make them a single source, multi-vendor
service provider with integrated onsite, RTB, and logistics services
capabilities
OEM Customers
Subject has a unique single window service
offering for all OEM customer care and support activities across India. It
integrates the helpdesk, IMAC services, Service Centers, Field teams, parts
warehouses, distribution and logistics. It not only provides reliable
country-wide coverage but is extremely cost-effective for any start-up
operation.
The
Partner of Choice
Subject is a national partner of many Fortune 500 OEM companies for many
years. Subject provides local, reliable, and cost-effective solutions
that directly address the needs at every point along the technology lifecycle
and takes away the burden of penetrating new markets.
For a new OEM entering India, Subject takes away the pain on understanding
customer expectations and rolling out most important part of sales build-up
strategy – customer support, so that the OEM can focus on brand building and
achieving sales targets. Just partnering with Subject sends a message to the
customers about seriousness of customer support in the company.
Since Subject is not a sales partner of any OEM, its focus on support is never
diluted. As the national support provider, Subject can help the company:
· enhance the brand image
· Improve customer satisfaction and loyalty
· Maintain competitive advantage
· Reduce support cost
· Deliver country wide business at a short notice.
· Scale up and add services when needed
· Provide valuable guidance regarding Indian market
Benefits of Subject Integrated Services;
For Established Indian market players
· Dedicated teams conveying company’s culture.
· Pan India coverage
· Consistent service quality – ISO approved processes
· All services under one umbrella reducing cost of management tremendously.
· Experience on hardware, software, products, applications, projects, roll-outs etc.
· Excellent Remote service capability offering great reduction in warranty costs
· More cost-effective service model
· Excellence Center capability – Highest skill center status in the country
· Deployment of ‘Product Specialists’ in Helpdesk – Level 3 coverage.
· Web based service reporting - Trust through transparency.
· Highly cross skilled field service workforce
· Special attention for key customers.
· Complete reverse logistics activities to manage fulfillment and returns
For New companies entering India
· Immediate national coverage - scalable when required.
· Single window solution – Call Center, Service Centers and Field Services
· Installations, PMs, Helpdesk, Service Centers.
· Project management to rollouts.
· Import and export management of parts and refurbished units
· Warehousing and Distribution.
· Highly cost efficient – No upfront investment in customer care.
· Web based reporting – Trust through transparency.
Outsourcer Customers
Subject provides best-in-class services for technology support of the
clients infrastructure, whether through Remote Helpdesk Services or Deskside
support. Subject association as an Authorised Service provider of major OEMs
and warranty partner for major overseas suppliers gives it a unique edge and
speed in vendor management aspects of the services. Overall, gain by reducing
costs, improving efficiency, and gain a competitive edge.
Subject can provide a single platform to bring together its skills and
experience in Remote Infrastructure Management, Helpdesk, Deskside Support
whether for IT products or networks or for security solutions. Subject provides
great value additions and introducing world class processes at competitive
prices. Subject own web based tool, CiRIMS provides it an unparalleled edge and
seamless client reporting.
They partner with
in making proposals and pitching for key accounts.
Subject has tie-ups in India with top IT Outsourcer companies to provide
back-to-back services to their customers. Subject is currently handling
services for customers having as many as 1000 locations across India.
As support provider for the customers,
Subject can provide:
· IMAC services
· Remote Helpdesk
· Remote or On-site Infrastructure Maintenance
· Deskside Support – hardware
· Application Support
· Network Support
· Lifecycle support to all hardware products
· Vendor management
· Repairs
· Same quality of service at various locations of the customer
EMS and 3P Customers
Subject has tie-ups with world’s leading EMS companies and 3P Service
providers for offering Repair and Refurbishment services on their behalf for
their products sold to OEMs or to dealers in India. The range covers a vast
array of IT, telecom and electronic goods. Subject enters into direct
agreements with overseas and local EMS companies to provide customized services
to their OEM clients.
Subject provides a single window integrated solution covering Repairs,
RMA, warehousing, inventory management and import / export
services. Subject pan India coverage helps to offer RMA services to customers in all parts of the
country through local service. The overall gain is more than just reducing
costs by instilling a confidence in the customers of a world class reliable
service to increase sales. Of course, Subject own web based tool, CiRIMS
provides it an unparalleled edge and seamless client reporting.
They partner with in making service
strategies and proposals while pitch for key accounts to garner more sales.
As support provider for the products, Subject can provide:
· Countrywide RMA services
· Repair and Refurbishment
· Inventory Management
· Warehousing and Distribution
· Import and Export management
Distributor Customers
Subject is a leading company in India for providing client neutral
multi-vendor product and technology support services. If are a Distributor for
a leading edge technology or product being launched or sold in India, Subject
is the best bet for seamless cost effective customer support services.
For a new product offering in India, Subject takes away the pain on
understanding customer expectations and rolling out most important part of
sales build-up strategy – customer support, so that can focus on increasing
market share, increase sales, penetrate the countrywide market and build the
brand.
Since Subject is not a sales partner of any brand, its focus on support is
never diluted.
As the national support provider,
Subject can help to:
· enhance brand image
· Improve customer satisfaction and loyalty
· Maintain competitive advantage
· Reduce support cost
· Deliver country wide business at a short notice.
· Scale up and add services when needed
· Provide valuable guidance regarding Indian market
Large Corporations
Subject provides integrated Infrastructure Management services and
technology support to some of the India’s largest Manufacturing companies, ITES
companies and Banks.
Subject solutions aim to bring down the cost of managing internal assets
and investment in IT by ensuring maximum uptime and optimization of for all
resources. Subject remote services and deskside
support work seamlessly to provide a great end user experience for
resolving any issues concerning hardware, software, applications, utilities,
network problems, security etc.
Subject Remote Monitoring services monitor each asset for its optimum usage and
send required alerts thereby preventing critical downtime.
Subject brings following benefits to its
clients:
· Comprehensive and seamless services – Deskside, Remote and Monitoring
· Cost-Effective and Flexible Pricing Options
· Catering to facilities spread across the country and monitored centrally.
· Experience across wide array of devices, networks and technologies
· Carrying out IMAC services and upgrades
· Authorised partner of all major OEMs
· Remote helpdesk managed by experienced engineers managing more than 350,000 calls per month.
Retail Chains
India is undergoing a revolutionary phase in retailing. With the emergence
of large format and hyper market chains, retailing is set to undergo a dramatic
change in terms of customer experience and product availability. Many of these
retail chains are launching ‘private label’ products as well.
Subject is well positioned to address this market with its innovative
solutions for large retails chains. Subject provides a vital link between the
Retail client and their suppliers, namely OEM manufacturers.
Subject single window solution offers unmatched service benefit to retail
chains for claiming warranty support and accounting for and closing each
customer case quickly and effectively. Subject association with major OEM
manufacturers and its pan India coverage provides an unmatched benefit to the
client.
Just in case, are launching a private label – whether with warranty
benefits from the OEM or simply imported into India without any such benefit,
Subject brings in its experience of handling a vast array of products and
technologies to enable to not only reduce the warranty and repair cost to the
minimum but to ensure that the pain of handling defective products and reverse
logistics is taken away.
They bring the
following benefits for Retail chains:
· Established process for warranty management and back-end repairs
· Single window coordination with all OEMs for warranty claims
· Recording all service transactions electronically from the end user customer, or the OEM
· Service desk in all stores
· Collection and delivery of customer products by dedicated vans
· Local repairs across the country, as needed.
· Management of parts and logistics
· ‘Your’ branded Pre-packaged and pre-priced service solutions (SKUs)
· Web based Reporting
· Call Center for the customers
Additional benefits in case of ‘private
label’ products:
· Services to be represented as your services (private labeled)
· Countrywide Local repairs.
· Scheduling the installation/service calls.
· Customer helpdesk
· Remote and onsite service
· Managing imports and distribution of parts
· Pricing pre-package productized services for customers
· Option for per incident support as well as monthly maintenance charge programs
· Customized solutions for complex opportunities
press releases:-
Funds managed and
advised by Motilal Oswal Venture Capital Advisors Private Limited invests in RT
Outsourcing Services Limited
MUMBAI, October, 2007: Funds managed and advised by Motilal Oswal
Venture Capital Advisors Private Limited (MOVCAPL) and its affiliates, have
invested Rs. 310 million in RT Outsourcing Services Limited. RT Outsourcing
Services Limited (“RT”) provides integrated service support (defined as
‘Reverse Logistics’) for all kinds of electronics including computers, mobile
phones and other consumer electronics like set top boxes, display devices, etc.
It has a leadership position in the reverse logistics space, having presence
across the country with more than 140 centres.
Investment in the company offers an opportunity to participate in the
overall growth story of IT, Telecom and electronic devices market. As the share
of organised retail spending increases in India, there would be an increased
requirement of reverse logistics service providers. Globally, the worldwide
hitech reverse logistics market size is US$109 bn and is expected to be US$ 150
bn by 2010. Going forward, it is expected that the reverse logistics market in
India will increasingly become an organized play, and given the low cost of
skilled labour in India, it can emerge as a global hub for reverse logistics
off-shoring. RT has an early mover advantage and is well positioned to capture
the opportunities, not just for Indian companies but also for global electronic
product companies.
RT is also present in setting up and maintenance of banking and telecom
infrastructure. The company is also focusing on growing its remote services
business.
The Company has grown at a CAGR of 42% between FY04-FY07, and has been a
profitable company since its inception in 1995. As per Mr. Raamdeo Agrawal,
Chairman of MOVCAPL, “There is tremendous growth expected in the consumer
electronics market, especially for items like personal computer (PC), mobile
phones, etc. Unlike other electronic devices, PCs/mobile phones need constant
service and support as they can crash, slow down and stop functioning. Thus,
offering quality after sales service plays an influential part in PC/mobile
phones sales growth. With the increasing share of organized retailing in India,
there would be a huge demand for reverse logistics services.”
According to Mr. Shammi Moza, Managing Director of RT, “Growing world
economies have opened unending opportunities for companies to reach customers
from across the globe. The post sales support market has also grown widely and
thrown open many challenges to provide excellent services while stressing to
reduce the overall cost of support. Asian market in specific has seen enormous
growth over the years owing to increase in purchasing power, opening up of
economies, liberalization and many impacts that have gone for increasing the
consumption of products and services. This investment from Motilal Oswal will
further propel the growth for RT and an investment made by such a blue chip
firm adds to our confidence in achieving super normal growth
in years to come.”
FiNoble Advisors Private Ltd. acted as the exclusive financial advisors
to RT on the transaction. About Motilal Oswal Venture Capital Advisors Pvt.
Ltd. Motilal Oswal Venture Capital Advisors Pvt. Ltd. (MOVCAPL) is a wholly
owned subsidiary of Motilal Oswal Financial Services Ltd. (MOFSL), a global,
diversified financial services group with businesses in securities,
commodities, investment banking and venture capital.
MOFSL has launched the India Business Excellence Fund (IBEF), a US$ 100
mn India focused Private Equity Fund which will be managed by MOVCAPL. The
latter believes that with the right strategy, management and operational
assistance, IBEF's portfolio companies will be able to leverage their existing
market position and create significant value over a period of 3-5 years.
Over the last 20 years, MOFSL has been successful in building a
comprehensive equity research team, vast distribution network and deep
corporate and institutional relationships. These coupled with the experience of
successfully managing a business will be leveraged by IBEF to become a
financial investor of choice for companies looking for private equity
investments.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction registered
against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or investigation
registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.40 |
|
UK Pound |
1 |
Rs.83.15 |
|
Euro |
1 |
Rs.65.74 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
49 |
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 |
|