BUSINESS INFORMATION REPORT
1. Summary Information
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|
|
Country |
|
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Company Name |
RONDO METAL SYSTEMS PRIVATE LIMITED |
Principal Name 1 |
Mr. Wintraken Willem John |
|
Status |
New Company |
Principal Name 2 |
Mr. Harvey John Phillip |
|
|
|
Registration # |
|
|
Street Address |
J-21, MIDC Taloja, Navi Mumbai-410 208, |
||
|
Established Date |
20.07.2009 |
SIC Code |
-- |
|
Telephone# |
91-22-27402831 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-22-27402831 |
Business Style 2 |
- |
|
Homepage |
Product Name 1 |
Power
Transformers |
|
|
# of employees |
- |
Product Name 2 |
Sheet Metal Components |
|
Paid up capital |
Rs25,000,000/- |
Product Name 3 |
- |
|
Shareholders |
Foreign holdings- 100.00 % |
Banking |
Commonwealth
Bank of |
|
Public Limited Corp. |
NO |
Business Period |
1 Year |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
B (26) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding Company |
|
|
- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
17,325,000 |
Current Liabilities |
4,092,000 |
|
Inventories |
0,000 |
Long-term Liabilities |
0,000 |
|
Fixed Assets |
181,000 |
Other Liabilities |
270,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
4,362,000 |
|
Invest& other Assets |
140,000 |
Retained Earnings |
0,000 |
|
|
|
Net Worth |
13,284,000 |
|
Total Assets |
17,646,000 |
Total Liab. & Equity |
17,646,000 |
|
Total Assets (Previous Year) |
26,247,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
- |
Net Profit |
- |
|
Sales(Previous yr) |
- |
Net Profit(Prev.yr) |
- |
MIRA
INFORM REPORT
|
Report Date : |
05.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
RONDO METAL SYSTEMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
J-21, MIDC Taloja, Navi Mumbai-410 208, Maharasahtra |
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|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
20.07.2009 |
|
|
|
|
Com. Reg. No.: |
11-194211 |
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|
|
|
CIN No.: [Company Identification No.] |
U74990MH2009FTC194211 |
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|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of
Power Transformers, Castings Manufacturers and Sheet Metal Components. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 53000 |
|
|
|
|
Status : |
New Company |
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|
|
|
Payment Behaviour : |
Slow |
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|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is a subsidiary of Rondo Building Services Pty. Limited, The company can be considered for business dealings with some
cautions. |
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 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Indrajit Dutta |
|
Designation : |
Account Manager |
|
Contact No.: |
91-22-27402831 |
|
Date : |
29.03.2011 |
LOCATIONS
|
Registered Office : |
J-21, MIDC Taloja, Navi Mumbai-410 208, |
|
Tel. No.: |
91-22-27402831 |
|
Mobile No.: |
91-9987017526 (Mr. Greg Smith- Country Manager) 91-9820628518 (Kumar Menon- Sales Marketing Manager) |
|
Fax No.: |
91-22-27402831 |
|
E-Mail : |
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|
Website : |
|
|
Location : |
Owned |
DIRECTORS
As on 13.12.2010
|
Name : |
Mr. Wintraken Willem John |
|
Designation : |
Director |
|
Address : |
50, Brindabella CL, Coomera, Australia-4209 |
|
Date of Birth/Age : |
02.10.1946 |
|
Date of Appointment : |
20.07.2009 |
|
|
|
|
Name : |
Mr. Harvey John Phillip |
|
Designation : |
Director |
|
Address : |
11, Freycinet Close, Dural, NSW Australia-2156 |
|
Date of Birth/Age : |
25.10.1963 |
|
Date of Appointment : |
25.10.2010 |
KEY EXECUTIVES
|
Name : |
Mr. Indrajit Dutta |
|
Designation : |
Account Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 13.12.2010
|
Names of Shareholders |
|
No. of Shares |
|
Rondo Building Services Pty Limited, Australia |
|
2499998 |
|
John |
|
1 |
|
Phillip John Harvey |
|
1 |
|
Total |
|
2500000 |
As on 13.12.2010
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of
Power Transformers, Castings Manufacturers and Sheet Metal Components. |
|
|
|
|
Exports : |
|
|
Products : |
Steel Systems |
|
Countries : |
US, UAE, |
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|
|
|
Imports : |
|
|
Products : |
Steel Rolls |
|
Countries : |
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|
|
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|
Terms : |
|
|
Selling : |
L/C, Cash and Credit (Sales done through contractor and OEM’s to End
Users. It is done Project Base.) |
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|
|
|
Purchasing : |
L/C, Cash and Credit |
GENERAL INFORMATION
|
Customers : |
·
End Users ·
OEM’s |
|
|
|
|
Bankers : |
·
Commonwealth Bank of ·
State Bank of |
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|
|
|
Banking
Relations : |
- |
|
|
|
|
Auditors : |
|
|
Name : |
BSR and Company Chartered Accountants |
|
Address : |
Lodha Excelus, 1st Floor, Appollo Mills compound, N. M.
Joshi Marg, Mahalaxmi, Mumbai-400 011, Maharasahtra, India |
|
Tel. No.: |
91-22-39696000 |
|
Fax No.: |
91-22-39836000 |
|
|
|
|
Holding Company: |
|
|
|
|
|
Ultimate Parent Company: |
·
CSR Limited, ·
Beral Limited, |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs.10/- Each |
Rs.50.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2500000 |
Equity Shares |
Rs.10/- Each |
Rs.25.000
Millions |
Note:
All the above equity shares are held by Rondo
Building Pty. Limited,
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
25.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
(11.716) |
|
|
NETWORTH |
|
|
13.284 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
13.284 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.181 |
|
|
Capital work-in-progress |
|
|
0.140 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
0.000 |
|
|
Cash & Bank Balances |
|
|
10.428 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
6.897 |
|
Total
Current Assets |
|
|
17.325 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
1.642 |
|
|
Other Current Liabilities |
|
|
2.450 |
|
|
Provisions |
|
|
0.270 |
|
Total
Current Liabilities |
|
|
4.362 |
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|
Net Current Assets |
|
|
12.963 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
13.284 |
|
Expected Sales (2010-2011): Rs.40.000 millions
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2010 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
|
0.33 |
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|
|
|
|
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|
Current Ratio (Current Asset/Current Liability) |
|
|
|
3.97 |
LOCAL AGENCY FURTHER INFORMATION
Note:
The registered office of the company has been shifted from Level 1, Imperial Heights, Plot 104, Sher-E-Punjab, Andheri (East), Mumbai- 400 093, Maharasahtra, India to the present address w.e.f.29.12.2009
Background:
Subject is incorporated on 29th July 2009 is a wholly owned
subsidiary of Rondo Holding Services Pty. Limited,
Promoter of the
Company:
The Company was
promoted by M/s. Rondo Building Services Pty. Limited,
Review of Progress
on the implementation of the Project:
Due to delays in
finalizing the capital structure and understanding the restrictions of the use
of funds coming in under the ECB route, the implementation of the Company’s
manufacturing facility was delayed until the financial year commencing April,
2010. However, the Company continued to develop the distribution network and
sales capability of the organization to include developers, contractors and board
manufacturers to ensure that demand and volumes were there once the
manufacturing facility commenced.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U74990MH2009FTC194211 |
|
Name of the
company |
Rondo Metal Systems
Private Limited |
|
Address of the
registered office or of the principal place of business in |
J-21, MIDC Taloja, Navi Mumbai-410 208, |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book Debts Other Stocks of RMs,
FGs etc. |
|
Particular of
charge holder |
Commonwealth Bank of |
|
Nature of description
of the instrument creating or modifying the charge |
Deed of
Hypothecation of Stocks and Book Debts |
|
Date of
instrument Creating the charge |
28.06.2010 |
|
Amount secured by
the charge |
Rs.30.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest @0.5% below BPLR
i.e. 13% p.a. presently, on a monthly compounding basis Terms of
Repayment On demand Margin Margin to be
maintained for cash credit at 25% each on stocks and book debts or at such
other rate as may be fixed by the bank from time to time. Extent and
Operation of the charge Security created
by way of first charge and to cover the principal amount together with interest,
costs, charges, expenses etc. Others Security created
in respect of cash credit facility. |
|
Short particulars
of the property charged |
All stocks of raw
materials such as merchandise and finished goods and semi finished goods,
spare parts, components (including spare parts and stores relating to plant
& machinery both present and future) and stocks in process of the company
whosesoever situate at Mumbai and which may be any time being installed and
lying loose or in cases or being in or upon or about the company premises godowns at Mumbai
or wherever else or in transit now belonging to or that may at any time
belong to the company or that may be held by any party to the order and
disposition of the company. All present and
future book debts, outstanding, money receivables, claims, bills which are
now due and owing or which may at any time hereinafter become due owing to
the company in the course of business by any persons, firm, company or body
corporate or by the Central Government or any State Government or any
Government department or office or any municipal or local or public or
semi-govt. body or authority or any body corporate or undertaking or project
whatsoever. |
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 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 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
26 |
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 |
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.