MIRA
INFORM REPORT
|
Report Date : |
01.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
ROYAL CARBON BLACK PRIVATE LIMITED |
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Registered
Office : |
New Era Mills Compound, |
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Country : |
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Financials (as
on) : |
17.03.2011 |
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Date of
Incorporation : |
26.10.2009 |
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Com. Reg. No.: |
196669 |
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CIN No.: [Company Identification
No.] |
U74999MH2009PTC196669 |
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IEC No.: |
0309071861 |
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PAN No.: [Permanent Account No.] |
AAECR5402J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Pyrolysis Oil and Carbon Black. |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a new company and yet to commence commercial operations. The
directors of the company seems to be resourceful businessmen. The valuation
report and networth statement provided is of a lesser value than the proposal
amount. No further details or payment could be made available. It would be advisable to take adequate securities while dealing with
the subject. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Vishesh Agarwal |
|
Designation : |
Managing Director |
|
Contact No.: |
91-9867222202 |
|
Date : |
26.03.2011 |
LOCATIONS
|
Registered Office : |
New Era Mills Compound, |
|
Tel. No.: |
91-22-40829564/ 40829500/ 40829530/ 40829551/ 40829517/ 40829529 |
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Mobile No.: |
91-9867222202 (Mr. Vishesh Agarwal) |
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Fax No.: |
91-22-24378279 |
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E-Mail : |
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Area : |
600 sq. ft. |
|
Location : |
Rented |
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Factory : |
Village- Vanivali, Taluka – Khalapur District – Raigad – 421220, |
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Tel. No.: |
91-2192-250379/ 254525/ 202076 |
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Email : |
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Location : |
Owned |
DIRECTORS
|
Name : |
Mr. Vishesh Rajendra Agarwal |
|
Designation : |
Managing Director |
|
Address : |
21/A, Meher Apartment, |
|
Date of Birth/Age : |
08.05.1982 |
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Qualification : |
B. Com, MBA from |
|
Experience : |
7 years |
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|
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|
Name : |
Mr. Ghanshyamdas Chaturbhuj Mundra |
|
Designation : |
Additional Director |
|
Address : |
802, Anant, Plot No.88/2, Sector 29, Vashi, Navi Mumbai – 400703, |
|
Date of Birth/Age : |
20.07.1961 |
|
Qualification : |
Chartered Accountant |
|
Experience : |
25 years |
|
Date of Appointment : |
10.06.2010 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 17.03.2011)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
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Chhatisgarh Investments Limited |
|
3500000 |
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New Era Fabrics Limited |
|
1640000 |
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Royal Energy Limited |
|
1950000 |
|
Johnson Dye Works Private Limited |
|
6900000 |
|
Vishesh Agarwal |
|
5000 |
|
Kushal Agarwal |
|
5000 |
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|
|
|
|
Total |
|
14000000 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Pyrolysis Oil and Carbon Black. |
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Terms : |
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Selling : |
Credit (30 days) |
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Purchasing : |
Cash |
PRODUCTION STATUS (AS ON 17.03.2011)
|
Particulars |
|
Installed Capacity |
Actual Production |
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|
Pyrolysis Oil and Carbon Black. |
|
100 Mts per day
(Raw Materials input capacity) |
New unit
Production yet to start |
GENERAL INFORMATION
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Customers : |
End Users |
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Suppliers : |
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No. of Employees : |
53 (Office – 8 and Factory – 45) (Approximately) |
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Bankers : |
·
Bank of Senapati Bapat Marg, Matunga (West), Mumbai, · Corporation Bank · Indian Bank |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Dixit Dattatray and Associates Chartered Accountant |
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Address : |
264, Maru Sadan, |
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Tel. No.: |
91-22-24307707 |
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Associates/Subsidiaries : |
· Royal Energy Limited Village Vanivali, Line of Business: Manufacturer of Biodiesel Bank: Bank of |
CAPITAL STRUCTURE
(AS ON 17.03.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14000000 |
Equity Share |
Rs.10/- each |
Rs.140.000 Millions |
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|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14000000 |
Equity Share |
Rs.10/- each |
Rs.140.000 Millions |
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|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
17.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
140.000 |
0.100 |
|
|
2] Share Application Money |
|
0.000 |
57.807 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
140.000 |
57.907 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.526 |
0.000 |
|
|
2] Unsecured Loans |
|
28.922 |
0.000 |
|
|
TOTAL BORROWING |
|
29.448 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
169.448 |
57.907 |
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|
|
|
|
|
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APPLICATION OF FUNDS |
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|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
167.951 |
28.047 |
|
|
Capital work-in-progress |
|
0.620 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
3.165 |
0.000 |
|
|
Sundry Debtors |
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
|
0.766 |
0.057 |
|
|
Other Current Assets |
|
3.628 |
0.000 |
|
|
Loans & Advances |
|
0.017 |
29.348 |
|
Total
Current Assets |
|
7.576 |
29.405 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
6.524 |
0.000 |
|
|
Other Current Liabilities |
|
0.000 |
0.000 |
|
|
Provisions |
|
0.175 |
0.020 |
|
Total
Current Liabilities |
|
6.699 |
0.020 |
|
|
Net Current Assets |
|
0.877 |
29.385 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
Preoperative Expenses |
|
0.000 |
0.475 |
|
|
|
|
|
|
|
|
TOTAL |
|
169.448 |
57.907 |
|
KEY RATIOS
|
PARTICULARS |
|
|
17.03.2011 |
31.03.2010 |
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|
|
|
|
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|
Debt Equity Ratio (Total Liability/Networth) |
|
|
0.26 |
0.00 |
|
|
|
|
|
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|
Current Ratio (Current Asset/Current Liability) |
|
|
1.13 |
1470.25 |
LOCAL AGENCY FURTHER INFORMATION
OPERATING STATEMENT
(RS.
IN MILLIONS)
|
Particulars
|
2012 |
2013 |
2014 |
2015 |
2016 |
|
|
|
|
|
|
|
|
Gross Sales |
|
|
|
|
|
|
Domestic Sales |
2.062 |
3.006 |
3.878 |
4.133 |
4.350 |
|
Export Sales |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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Total |
2.062 |
3.006 |
3.878 |
4.133 |
4.350 |
|
|
|
|
|
|
|
|
Less : Excise Duty |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Net Sales |
2.062 |
3.006 |
3.878 |
4.133 |
4.350 |
|
|
|
|
|
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|
|
% rise [+] or fall [-] in net sales as compared to
previous year |
0.00 |
45.78 |
29.01 |
6.58 |
5.25 |
|
|
|
|
|
|
|
|
Other Operating Income |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
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|
|
|
|
|
|
Cost
of Sales |
|
|
|
|
|
|
|
|
|
|
|
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Raw Materials Consumed |
|
|
|
|
|
|
Imported |
-- |
-- |
-- |
-- |
-- |
|
Indigenous |
0.792 |
1.109 |
1.426 |
1.505 |
1.584 |
|
|
|
|
|
|
|
|
Others Stores and Spares |
0.065 |
0.091 |
0.118 |
0.124 |
0.131 |
|
|
|
|
|
|
|
|
Power and Fuel |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Direct Wages (Factory Wages and Salaries) |
0.093 |
0.107 |
0.123 |
0.142 |
0.163 |
|
Repairs and Maintenance |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Manufacturing Expenses |
0.092 |
0.133 |
0.171 |
0.182 |
0.192 |
|
Depreciation |
0.147 |
0.147 |
0.147 |
0.147 |
0.147 |
|
|
|
|
|
|
|
|
Sub
Total |
1.189 |
1.587 |
1.985 |
2.100 |
2.217 |
|
|
|
|
|
|
|
|
Increase/ (Decrease) in WIP |
(0.048) |
(0.019) |
(0.019) |
(0.005) |
(0.005) |
|
|
|
|
|
|
|
|
Increase/ (Decrease) in Finished Goods |
(0.114) |
(0.046) |
(0.046) |
(0.011) |
(0.011) |
|
|
|
|
|
|
|
|
Sub
Total (Total
Cost of Sales) |
1.027 |
1.522 |
1.920 |
2.084 |
2.201 |
|
|
|
|
|
|
|
|
Selling, General and Administrative Expenses |
0.072 |
0.105 |
0.136 |
0.145 |
0.152 |
|
|
|
|
|
|
|
|
Operating Profit before interests |
0.963 |
1.379 |
1.822 |
1.904 |
1.997 |
|
|
|
|
|
|
|
|
Interests on |
|
|
|
|
|
|
- Term Loan |
0.276 |
0.241 |
0.184 |
0.128 |
0.071 |
|
- Working Capital |
0.068 |
0.081 |
0.061 |
0.047 |
0.041 |
|
|
0.344 |
0.322 |
0.245 |
0.175 |
0.112 |
|
|
|
|
|
|
|
|
Operating profit after Interests |
0.619 |
1.057 |
1.577 |
1.729 |
1.885 |
|
|
|
|
|
|
|
|
Other non Operating Income |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Other Non Operating Expenses |
0.025 |
0.025 |
0.025 |
0.025 |
0.025 |
|
|
|
|
|
|
|
|
Net
of Non-operating Income and expenses |
(0.025) |
(0.025) |
(0.025) |
(0.025) |
(0.025) |
|
|
|
|
|
|
|
|
Profit
before Tax/ Loss [PBT] |
0.594 |
1.032 |
1.552 |
1.704 |
1.860 |
|
|
|
|
|
|
|
|
Provision for taxes |
0.023 |
0.291 |
0.489 |
0.554 |
0.617 |
|
|
|
|
|
|
|
|
Net
Profit / Loss [PAT] |
0.571 |
0.741 |
1.063 |
1.150 |
1.243 |
|
|
|
|
|
|
|
|
Dividend |
-- |
0.100 |
0.200 |
0.300 |
0.400 |
|
|
|
|
|
|
|
|
Cash Profit |
0.718 |
0.888 |
1.210 |
1.297 |
1.390 |
|
|
|
|
|
|
|
|
Cash
Profit Plus Interest son Term Loans (A) |
0.994 |
1.129 |
1.394 |
1.425 |
1.461 |
|
|
|
|
|
|
|
|
Installments
due under Term Loans: |
|
|
|
|
|
|
- Existing Term
Loan |
-- |
-- |
-- |
-- |
-- |
|
- Proposed term
Loan |
0.105 |
0.420 |
0.420 |
0.420 |
0.420 |
|
|
|
|
|
|
|
|
Interests
on Term Loan |
0.276 |
0.241 |
0.184 |
0.128 |
0.071 |
|
|
|
|
|
|
|
|
Sub
Total (B) |
0.381 |
0.661 |
0.604 |
0.548 |
0.491 |
|
|
|
|
|
|
|
|
DSCR
A/B |
2.61 |
1.71 |
2.31 |
2.60 |
2.98 |
------------------------------------------------------------------------------------------------------------------------------
BALANCE
SHEET
(RS
IN MILLIONS)
|
Particulars
|
2011 |
2012 |
2013 |
2014 |
2015 |
2016 |
|
|
|
|
|
|
|
|
|
Bank Borrowings |
0.500 |
0.500 |
0.600 |
0.450 |
0.351 |
0.301 |
|
Installments of Term Loans/ Deferred Payment Credits/ Debentures/
Debentures/ Deposits/ redeemable preference Shares (Due within one year) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Credit for Purchases |
0.000 |
0.041 |
0.077 |
0.064 |
0.073 |
0.082 |
|
|
|
|
|
|
|
|
|
Provision for Taxation |
0.000 |
0.023 |
0.291 |
0.489 |
0.554 |
0.617 |
|
|
|
|
|
|
|
|
|
Other Current Liabilities |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Sub
Total (A) |
0.500 |
0.564 |
0.968 |
1.003 |
0.978 |
1.000 |
|
|
|
|
|
|
|
|
|
TERM LIABILITIES |
|
|
|
|
|
|
|
Debentures [not maturing within one year] |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Preference Shares [Redeemable after 1 year] |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Term loans [excluding installments payable within
one year] |
2.100 |
1.995 |
1.575 |
1.155 |
0.735 |
0.315 |
|
Loans (Unsecured from Promoters) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Deferred Sales Tax / Deferred Loan Deferred Payment Credit
[Excluding installments due within one year] |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Term deposit [repayable after one year] |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Term Liabilities |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Sub Total (B) |
2.100 |
1.995 |
1.575 |
1.155 |
0.735 |
0.315 |
|
|
|
|
|
|
|
|
|
NET
WORTH |
|
|
|
|
|
|
|
Equity Share Capital |
1.400 |
1.400 |
1.400 |
1.400 |
1.400 |
1.400 |
|
Partners Capital/ Capital Brought in by proprietor |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Share Application Money |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Reserve and Surplus |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Shares Premium |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other reserve |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Surplus [+] or deficit [-] in Profit and Loss Account |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other (Specify) |
0.000 |
0.571 |
1.212 |
2.075 |
2.925 |
3.769 |
|
|
|
|
|
|
|
|
|
TOTAL
NET WORTH (C) |
1.400 |
1.971 |
2.612 |
3.475 |
4.325 |
5.169 |
|
|
|
|
|
|
|
|
|
TOTAL CAPITAL +
LIABILITIES (A + B + C) |
4.000 |
4.530 |
5.155 |
5.633 |
6.038 |
6.484 |
|
|
|
|
|
|
|
|
|
CURRENT
ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and Bank Balance |
0.075 |
0.614 |
0.996 |
1.318 |
1.797 |
2.317 |
|
Investments |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Receivable |
0.000 |
0.112 |
0.111 |
0.112 |
0.112 |
0.115 |
|
|
|
|
|
|
|
|
|
INVENTORY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Raw Material Consumed, WIP and Consumable Spares |
0.350 |
0.323 |
0.453 |
0.582 |
0.614 |
0.646 |
|
|
|
|
|
|
|
|
|
Advances Suppliers of Stores and Spares |
0.300 |
0.331 |
0.350 |
0.350 |
0.350 |
0.350 |
|
Advances Payment of Taxes
|
0.000 |
0.023 |
0.291 |
0.489 |
0.554 |
0.617 |
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Sub
Total (A) |
0.725 |
1.403 |
2.201 |
2.851 |
3.427 |
4.045 |
|
|
|
|
|
|
|
|
|
FIXED
ASSETS |
|
|
|
|
|
|
|
Gross Block (Land and Building, Machinery,
Work-In-Progress) |
3.175 |
3.175 |
3.175 |
3.175 |
3.175 |
3.3175 |
|
Depreciation to date |
0.000 |
0.147 |
0.295 |
0.442 |
0.590 |
0.736 |
|
|
|
|
|
|
|
|
|
NET BLOCK |
3.175 |
3.025 |
2.880 |
2.733 |
2.585 |
2.439 |
|
|
|
|
|
|
|
|
|
Capital WIP |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Sub
Total (B) |
3.175 |
3.025 |
2.880 |
2.733 |
2.585 |
2.439 |
|
|
|
|
|
|
|
|
|
OTHER
NON – CURRENT ASSETS |
|
|
|
|
|
|
|
Investments/ book/ debts/ advances/ deposits which are not
Current Assts |
|
|
|
|
|
|
|
[a] Investments in Subsidiary companies/ affiliates |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
[b] Others |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
ii] Advances to suppliers of capital goods and contractors
|
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
iii] Deferred receivables [maturity exceeding one year] |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
iv] Others |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Miscellaneous Deposits |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Non consumables Stores and Spares |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Other non – current assets including dues from directors
(Deferred Tax Assets) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
TOTAL
OTHER NON – CURRENT ASSETS (C) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Intangible assets [Patents, goodwill, prelim, expenses,
bad/ doubtful expenses Not provided for etc.] (D) |
0.100 |
0.099 |
0.074 |
0.049 |
0.026 |
0.000 |
|
|
|
|
|
|
|
|
|
TOTAL
ASSETS |
4.000 |
4.530 |
5.155 |
5.633 |
6.038 |
6.484 |
CASH FLOW STATEMENT
(RS.
IN MILLIONS)
|
Particulars |
2012 |
2013 |
2014 |
2015 |
2016 |
|
|
|
|
|
|
|
|
SOURCES
OF CASH |
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit before Interests and Tax less
adjustments for non-cash revenue |
1.085 |
1.501 |
1.944 |
2.026 |
2.119 |
|
Depreciation |
0.147 |
0.147 |
0.147 |
0.147 |
0.147 |
|
Preliminary Expenses Written off |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Loss on |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Issue of Equity Shares |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Issue of Preference Shares |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Issue of Debentures |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Raising of Long Term Loss |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Raising of Other Long Term Unsecured
Loans/ deposits etc. |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
0.000 |
0.001 |
0.000 |
0.001 |
0.000 |
|
Increase in Current Liabilities |
0.041 |
0.036 |
0.000 |
0.009 |
0.009 |
|
Decrease in Current Assets |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Increase in Short Term Borrowings |
0.000 |
0.100 |
0.000 |
0.000 |
0.000 |
|
Decrease in Non Current assets/ Investments |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
SUB
TOTAL (A) |
1.273 |
1.785 |
2.091 |
2.183 |
2.275 |
|
|
|
|
|
|
|
|
Increase in Deferred Tax Liability |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
APPLICATION
OF CASH |
|
|
|
|
|
|
|
|
|
|
|
|
|
Redemption of Redeemable Preference |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Redemption of Debentures |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Repayment of Long term Loans |
0.105 |
0.420 |
0.420 |
0.420 |
0.420 |
|
Repayment of Long term Unsecured Loans/
deposits etc. |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Purchases of Fixed Assets |
0.000 |
0.000 |
0.000 |
0.000 |
0.001 |
|
Decrease in Current Liabilities |
0.000 |
0.000 |
0.013 |
0.000 |
0.000 |
|
Increase in Current Assets |
0.678 |
0.798 |
0.650 |
0.576 |
0.618 |
|
Increase in Non current Assets/
Investments |
0.001 |
0.025 |
0.025 |
0.023 |
0.026 |
|
Interests Paid |
0.344 |
0.322 |
0.245 |
0.175 |
0.112 |
|
Taxes paid |
0.000 |
0.023 |
0.291 |
0.489 |
0.554 |
|
Dividend |
0.000 |
0.100 |
0.200 |
0.300 |
0.400 |
|
|
|
|
|
|
|
|
SUB-TOTAL
(B) |
1.128 |
1.688 |
1.844 |
1.983 |
2.131 |
|
|
|
|
|
|
|
|
Net
Surplus (A-B) |
0.145 |
0.097 |
0.247 |
0.200 |
0.144 |
|
|
|
|
|
|
|
|
Opening Balance |
0.075 |
0.614 |
0.996 |
1.318 |
1.797 |
|
|
|
|
|
|
|
|
Closing Balance |
0.614 |
0.996 |
1.318 |
1.797 |
2.317 |
------------------------------------------------------------------------------------------------------------------------------
DSCR
SCENARIOS FOR A COMPANY
(AS
DISTINGUISHED FROM A PROJECT)
(RS. IN MILLIONS)
|
Particulars |
2011 |
2012 |
2013 |
2014 |
2015 |
2016 |
|
Scenario for a fall in Total Operating Income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
% fall in revenue |
5.00 |
5.00 |
5.00 |
5.00 |
5.00 |
5.00 |
|
Total Operating Income (shocked downwards) |
0.000 |
1.959 |
2.856 |
3.684 |
3.926 |
4.133 |
|
Cost of Sales + SGA |
0.000 |
1.099 |
1.627 |
2.056 |
2.229 |
2.353 |
|
Operating Profit before Interest |
0.000 |
0.860 |
1.229 |
1.628 |
1.697 |
1.780 |
|
Interest |
0.000 |
0.344 |
0.322 |
0.245 |
0.175 |
0.112 |
|
Operating Profit after Interest |
0.000 |
0.516 |
0.907 |
1.383 |
1.522 |
1.668 |
|
Net of non operating income/ expenses |
0.000 |
(0.025) |
(0.025) |
(0.025) |
(0.025) |
(0.025) |
|
Profit before tax |
0.000 |
0.491 |
0.882 |
1.358 |
1.497 |
1.643 |
|
Provision for Tax |
0.000 |
0.019 |
0.249 |
0.428 |
0.487 |
0.545 |
|
PAT |
0.000 |
0.472 |
0.633 |
0.930 |
1.011 |
1.098 |
|
|
|
|
|
|
|
|
|
Installments of Term Loans/ Deferred payment credits/ Debentures/
deposits (due within one year) |
0.000 |
0.105 |
0.420 |
0.420 |
0.420 |
0.420 |
|
Interest |
0.000 |
0.344 |
0.322 |
0.245 |
0.175 |
0.112 |
|
|
|
|
|
|
|
|
|
DSCR (for a fall in Op Rev) |
NA |
2.14 |
1.49 |
1.99 |
2.24 |
2.55 |
|
|
||||||
|
Scenario for a rise in operating expenses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
% rise in Op Expenses |
5.00 |
5.00 |
5.00 |
5.00 |
5.00 |
5.00 |
|
Total Operating Income |
0.000 |
2.062 |
3.006 |
3.878 |
4.133 |
4.350 |
|
Cost of Sales + SGA (shocked upwards) |
0.000 |
1.154 |
1.708 |
2.159 |
2.340 |
2.471 |
|
Operating Profit before Interest |
0.000 |
0.908 |
1.298 |
1.719 |
1.793 |
1.879 |
|
Interest |
0.000 |
0.344 |
0.322 |
0.245 |
0.175 |
0.112 |
|
Operating Profit after Interest |
0.000 |
0.564 |
0.976 |
1.474 |
1.618 |
1.767 |
|
Net of non operating income/ expenses |
0.000 |
(0.025) |
(0.025) |
(0.025) |
(0.025) |
(0.025) |
|
Profit before tax |
0.000 |
0.539 |
0.951 |
1.449 |
1.593 |
1.742 |
|
Provision for tax |
0.000 |
0.021 |
0.268 |
0.457 |
0.518 |
0.578 |
|
PAT |
0.000 |
0.518 |
0.683 |
0.993 |
1.075 |
1.164 |
|
|
|
|
|
|
|
|
|
Installments of Term Loans/ Deferred payment credits/ Debentures/
deposits (due within one year) |
0.000 |
0.105 |
0.420 |
0.420 |
0.420 |
0.420 |
|
Interest |
0.000 |
0.344 |
0.322 |
0.245 |
0.175 |
0.112 |
|
|
|
|
|
|
|
|
|
DSCR (for a rise in Op Expense) |
NA |
2.25 |
1.55 |
2.08 |
2.35 |
2.68 |
------------------------------------------------------------------------------------------------------------------------------
TO WHOMSOEVER IT MAY CONCERN
The
Networth of Mr. Vishedsh Rajendra Agarwal is Rs.14.985 as on 31.03.2010.
------------------------------------------------------------------------------------------------------------------------------
STATEMENT OF TOTAL INCOME
(MR.
VISHEDSH RAJENDRA AGARWAL)
(RS.
IN MILLIONS)
|
PARTICULARS |
2010-2011 |
|
|
|
|
|
|
(A) Income From
Salary |
|
|
|
Salary Received from Johnson Dye Works Private Limited |
0.500 |
|
|
Salary received from Royal Energy Limited |
0.050 |
0.550 |
|
|
|
|
|
(B) Income from
Other Sources |
|
|
|
Dividend |
0.020 |
|
|
Bank Interests |
0.009 |
|
|
|
0.029 |
|
|
Less: Dividend Exempted |
0.020 |
0.009 |
|
|
|
|
|
Gross Total
Income |
|
0.559 |
|
|
|
|
|
Less: Deduction Admissible Under Chapter VI- A |
|
|
|
U/s 80 C Can HSBC Life Insurance |
|
0.100 |
|
|
|
|
|
Total Income |
|
0.459 |
|
Rounded Off |
|
0.459 |
|
Tax Payable |
|
0.046 |
|
|
|
|
|
Add: @ 3% Education Cess |
|
0.001 |
|
|
|
|
|
Net Tax Payable |
|
0.047 |
|
|
|
|
|
Less: TDS on Salary |
|
0.072 |
|
|
|
|
|
Balance Refundable |
|
(0.025) |
------------------------------------------------------------------------------------------------------------------------------
BALANCE SHEET
MR.
VISHEDSH RAJENDRA AGARWAL
(RS.
IN MILLIONS)
|
Liabilities |
Amount |
Assets |
Amount |
|
|
|
|
|
|
Capital Account |
|
Jewellery |
0.755 |
|
Balance As per Last |
14.516 |
Investment in Shares |
0.328 |
|
Add: Salary |
0.550 |
Can HSBC Life Insurance |
0.300 |
|
SB Interests |
0.009 |
|
|
|
Dividend |
0.000 |
Shares application Money with |
|
|
Dividend On Units |
0.020 |
Royal Engery Limited |
10.300 |
|
|
15.095 |
Rajendra Agarwal |
0.015 |
|
Less: Drawings |
0.109 |
Sangeeta Agarwal |
2.100 |
|
|
14.986 |
New Era Fabrics Limited |
0.020 |
|
|
|
Anjali Barelia |
0.100 |
|
Hanil Era Textile Limited |
0.098 |
Advance against Purchases of Property |
0.651 |
|
|
|
TDS A.Y. 2010-11 |
0.071 |
|
Royal Engery Limited |
0.158 |
Cash at Bank |
0.157 |
|
|
|
Cash in Hand |
0.445 |
|
|
|
|
|
|
Total |
15.242 |
Total |
15.242 |
----------------------------------------------------------------------------------------------------------------------------
STATEMENT OF ASSESSABLE WEALTH
(MR.
VISHEDSH RAJENDRA AGARWAL)
(RS.
IN MILLIONS)
|
PARTICULARS |
2010-2011 |
|
|
|
|
|
|
STATEMENT OF
ASSESSABLE WEALTH |
|
|
|
|
|
|
|
Assets Falling
U/s 2 (ea) of wealth Tax Act |
|
|
|
|
|
|
|
Movable Property
|
|
|
|
Jewellery |
|
4.214 |
|
|
|
|
|
Cash in Hand as per balance Sheet |
0.445 |
|
|
Less: exemption Limit U/s (ea) |
0.050 |
0.395 |
|
|
|
|
|
Less:
Liabilities |
|
|
|
Income Tax Liability |
|
|
|
A. Y. 2010-2011 |
|
0.047 |
|
|
|
|
|
Total Wealth |
|
4.562 |
|
|
|
|
|
Wealth tax payable on Rs.3.000 Million |
|
Nil |
|
Wealth Tax Payable on Balance rs.1.562 Millions |
|
0.016 |
|
Add: Interests u/s 234 A |
|
0.000 |
|
|
|
|
|
Tax Payable |
|
0.016 |
|
|
|
|
|
Self – Assessment Tax Paid on 30.08.2010 |
|
0.017 |
|
|
|
|
|
Balance Refundable |
|
(0.001) |
----------------------------------------------------------------------------------------------------------------------------
VALUATION REPORT
|
Regarding |
Valuation Of Fixed Assets (Land and Buildings) |
|||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Belonging to: |
Royal Carbon Black Private Limited S. Nos.1 to 8 and 10, Village Vanivall, Taluka Khalapur, District |
|||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Location |
Taluka Khalapur, District Raigad |
|||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||
|
INTRODUCTION Subjects propose to set up Pyrolisis Plant at the above address. They have offered the plot of land on which the plant is being set up
as primary security to their bankers. Apart from this, Land with buildings on
the adjacent plot on which the unit of their sister concern Royal Energy
Limited is in operation has been offered as collateral security. Cosmos Bank, their Bankers wanted the valuation of the assets to be
done. This assignment was entrusted to Miltec Consultancy Services who are on
the panel of Cosmos Bank. Miltec’s Valuers accompanied by Company’s executives, visited the site
on July 30, 2010, for inspection of these assets for the purpose of carrying
out the valuation. Data was collected from the executives of the Company during the visit
on the building plans. Based on the data made available, this valuation report is being
issued. VALUATION
PROCESS: METHODOLOGY AND ASSUMPTIONS VALUATION OF
LAND AND BUILDING: Land details were obtained from the Company’s executives. The The area of the building is calculated based on the actual
measurements taken at site. While arriving at the prevailing market value of the building the
following factors have been taken into consideration: a) The type of construction of building b) The specifications of the material used for civil work c) Age and physical condition of the building d) Pavements and internal roads and Compound Wall VALUATION OF
LAND - ROYAL CARBON BLACK PRIVATE LIMITED The land on which the plant of Royal Carbon Black Private Limited is
proposed to be set up is located on Survey Nos. 1 to 7, 8/2., 8/3 and 10/1 situated
at Village Vanivali, Taluka. Khalapur, Dist. Raigad. As per the documents shown to us, the area of land is 26,500 sq. mtrs.
It was purchased in December 2009 for agreement Value of Rs.23.850 Millions This Land is proposed to be used for the forthcoming prolepsis and
rubber granulation units. An area admeasuring 13,000 mtrs. is proposed to be
used for pyrolysis unit and balance area of admeasuring 13,500 sq. mtrs.
would be utilized for granulation unit. The location of plot of land is about 1km. away from Patalganga MIDC
Industrial area on road going to Khalapur. There are many industries in the
vicinity. The unit of S H Kelkar and Company is on the opposite side of the
Road. The work for wire mesh fencing with MS channels is in progress. The official rate of Land quoted by MIDC for plots in the Patalganga
Industrial area as per information available on internet is Rs.2,000/ per sq.
mtr. However, since vacant plots are not readily available, the actual rates
are higher than the official rates. The rate of private Land, which is free
hold, is generally higher than nearby MIDC area rate. Based on the oral enquiries about the ongoing market rate of land in
the vicinity of the works, they understand that it varies between Rs.2,500 to
Rs.3,000 per sq.mtr. depending on the precise location of the plot. They have
adopted average rate of Rs.2,500/- per sq. mtr. for this valuation At the above the rate value of the land for prolepsis and rubber
granulation units works out to: Pyrolisis Unit: 13,000 (sq. mtrs.) x 2,500 (Rs. /sq. mtr.) = Rs.32.500
Millions Rubber Granulation Unit :13,500 (sq. mtrs.) x 2,500 (Rs. / sq. mtr.) =
Rs.33.750 Millions VALUATION OF
BUILDING- ROYAL CABON BLACK PRIVATE LIMITED There are two main buildings, viz, production shed and a temple. Apart
from these there are few small structures. The description of these buildings
is given in subsequent paragraphs. These buildings are located in the portion
of the plot earmarked for Rubber Granulation Unit. Production Shed: The Shed is RCC structure with ground floor. It has rolling shutter.
The roof is slopping on both the sides. It has Ac sheet on MS trusses. The
flooring is of The building was constructed a few years ago. The present condition is
fair. The built up area as per the actual measurements is about 760 sq. mtrs.
The height is 8 mtrs, at center and 5 mtrs at both the ends. There is small
shed adjacent to this building having area of about 16 sq. mtrs. and toilet
block having area of 21 sq. mtrs. It is proposed to use this shed for rubber
granule plant. This building is of RCC construction having ground floor. There is
temple surrounded by sitting area around it. Based on factors listed in para 2.1.4 above, they value the structures
as follows:
VALUATION OF
LAND — ROYAL ENERGY LIMITED The land on which the plant of Royal Energy Limited has been set up is
located on Survey No. 94, Hissa No. 1 and 2 situated at Village Vanivali,
Taluka. Khalapur, Dist. Raigad. As per the documents shown to them, the area of land is 10,500 sq.
mtrs. This land was New Era Fabrics Limited. The board of Royal Energy
Limited in their meeting on 29th March 2010, have passed a resolution to
purchase it for consideration of Rs.28.508 Millions. Since this Land is leveled and close to main road as compared to that
of Royal Carbon Limited, they have adopted rate of Rs.2,750/- per sq. mtr.
For this plot of Land. At the above the rate value of the land works out
to 10,500 (sq. mtrs.) x 2,750 (Rs. /sq. mtr.) = Rs.28.875 Millions SUMMARY OF
VALUATION
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||
------------------------------------------------------------------------------------------------------------------------------
SWOT ANALYSIS OF
THE UNIT
STRENGTH
§
Management of the company is well educated having
very professional knowledge. The group is well established in bio diesel
industry.
§
The Promoters and Investors are financially strong.
§
The raw material supply is assured at fixed rate
due to long term purchase agreement already entered.
§
The Finished goods market for oil, carbon black,
steel scrap is already established.
§
The factory location is ideal for import f raw
material due to vicinity to Port and sale of finished goods.
WEAKNESSES
§
As the product and it’s manufacturing process is
very unique, the company has to maintain standard as well as quality as per
technical specifications. Even though many plants are in operation in the world
with technology suppliers who is supplying technology to RCBL.
OPPORTUNITIES
§
There are tremendous opportunities in the field, as
this industry is having very good potential and good scope for growth.
§
The forward integration in bio diesel sector will
further help for value addition.
THREATS
§
Threat in respect of government policies relating
to industry.
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TRADE REFERENCE:
· Sarda Steel and Energy Limited
Mr. Kamal Sarda
Tel No.: 91-771-4263502
·
Washakie Renewable energy
Jacob Kingston
Tel No.: 001-435-866 2292
· BP Textiles
Mr. Arun Todi
Mobile No.: 91-9821136715
· Ginee Engineering
Mr. Niranjan Gogate
Mobile No.: 91-9324914748
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FIXED ASSETS:
· Land
· Plant and Machinery
· Capital WIP
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.44.65 |
|
|
1 |
Rs.71.92 |
|
Euro |
1 |
Rs.63.24 |
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 |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.