MIRA
INFORM REPORT
|
Report Date : |
07.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
RAVINDRA HERAEUS PRIVATE LIMITED (w.e.f. 21.11.2002) |
|
|
|
|
Formerly Known
As : |
RAVINDRA PLATINUM PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A-196 (A), “F” Road, Mewar Industrial Area, Madri, |
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Country : |
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|
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Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
25.10.1988 |
|
|
|
|
Com. Reg. No.: |
17-004669 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36911RJ1988PTC004669 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
JDHR01905B/ JDHR02117D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACR9695R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
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Line of Business
: |
Manufacturing articles of Platinum Group Metals for Fertilizer, Glass,
Petrochemical, Pharmaceutical Industries and Research Institutes. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1336000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
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|
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|
Litigation : |
Clear |
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|
Comments : |
Subject is a well established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
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 |
LOCATIONS
|
Registered Office : |
A-196 (A), “F” Road, Mewar Industrial Area, Madri, |
|
Tel. No.: |
91-294-2490029, 2492027, 2491028, 2490031, 2492045, 2490058 |
|
Fax No.: |
91-294-2491825, 2492177 |
|
E-Mail : |
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|
Website : |
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Plant : |
Located at: ·
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|
|
|
|
Branch Office : |
Located at: ·
Mumbai ·
Vadodara ·
·
|
DIRECTORS
As on 24.06.2010
|
Name : |
Mr. Ravindra Sajjan Lal Choksi |
|
Designation : |
Chairman |
|
Address : |
Ravi Kamal, |
|
Date of Birth/Age : |
12.09.1935 |
|
Date of Appointment : |
25.10.1988 |
|
DIN No.: |
00359736 |
|
|
|
|
Name : |
Mr. Shailesh Ravindra Choksi |
|
Designation : |
Managing Director |
|
Address : |
“Vainkuntam”, Behind Shilpgram, Hawala Khurd, |
|
Date of Birth/Age : |
24.05.1960 |
|
Date of Appointment : |
25.10.1988 |
|
DIN No.: |
00359921 |
|
|
|
|
Name : |
Mr. Kishore Ravindra Choksi |
|
Designation : |
Director |
|
Address : |
Ravi Kamal, |
|
Date of Birth/Age : |
10.09.1955 |
|
Date of Appointment : |
25.10.1988 |
|
DIN No.: |
00359805 |
|
|
|
|
Name : |
Mr. Alfons Josef Link |
|
Designation : |
Director |
|
Address : |
Biebergemund, Wirtheim, Pfingstborn 63599 |
|
Date of Birth/Age : |
08.01.1949 |
|
Date of Appointment : |
29.09.1994 |
|
Date of Ceasing : |
31.12.2009 |
|
DIN No.: |
01408965 |
|
|
|
|
Name : |
Dr. Wulf Friedrich Kock |
|
Designation : |
Director |
|
Address : |
Rannernber-Gring 24A, D-63755 |
|
Date of Birth/Age : |
16.09.1949 |
|
Date of Appointment : |
29.01.1997 |
|
DIN No.: |
01306098 |
|
|
|
|
Name : |
Dr. Peter Koehler |
|
Designation : |
Director |
|
Address : |
Hoewelberg 6, 32760 |
|
Date of Birth/Age : |
12.10.1958 |
|
Date of Appointment : |
23.01.2006 |
|
DIN No.: |
01407890 |
|
|
|
|
Name : |
Mr. Gerald Josef Ritter |
|
Designation : |
Director |
|
Address : |
Gelnhausen, Am Langen Steg 39 |
|
Date of Birth/Age : |
20.03.1961 |
|
Date of Appointment : |
01.01.2010 |
|
DIN No.: |
02931193 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 24.06.2010
|
Names of Shareholders |
|
No. of Shares |
|
Ravindra Choksi |
|
10000 |
|
Kishore Choksi |
|
6000 |
|
Shailesh Choksi |
|
6000 |
|
Kamla Choksi |
|
10000 |
|
Namrata Choksi |
|
4500 |
|
Samveg Choksi |
|
4500 |
|
Nandita Choksi |
|
4500 |
|
Radhey Choksi |
|
4500 |
|
W.C. Heraeus International GmbH, |
|
50000 |
|
Total |
|
100000 |
As on 24.06.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing articles of Platinum Group Metals for Fertilizer, Glass,
Petrochemical, Pharmaceutical Industries and Research Institutes. |
|
|
|
|
Products : |
·
Platinum / Rhodium Catalyst Gauzes ·
Palladium Alloy Catchment Gauzes ·
FTC Gauzes ·
Platinum Laboratory Apparatus ·
Platinum Electrodes ·
Platinum, Platinum / Rhodium Thermocouple Wires ·
Platinum / Rhodium Bushing and Equipments for
Fibre Glass / Glass Industries ·
Precious Metal Salts such as Chloroplatinic Acid,
Palladium Chloride, Platinum Oxide, Rhodium Chloride etc. ·
Chemical Catalysts ·
Platinum Components and Semis for Jewellery ·
Platinum Chains ·
Electrical Contacts ·
Semis ·
Ceramic Colours |
PRODUCTION STATUS (AS ON 31.03.2010)
|
Particulars |
|
|
|
2009-10 |
|
Actual Production |
|
|
|
18494.38877 Kgs.
|
|
|
|
|
|
|
GENERAL INFORMATION
|
Bankers : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B.L. Ajmera and Company Chartered Accountants |
|
Address : |
|
|
Tel. No.: |
91-141-2373433 |
|
Fax No.: |
91-141-2371152 |
|
E-Mail : |
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|
|
|
Enterprises under significant influence : |
|
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.100/- each |
Rs.10.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.100/- each |
Rs.10.000 millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
10.000 |
10.000 |
10.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
324.073 |
264.620 |
257.893 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
334.073 |
274.620 |
267.893 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.006 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.451 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.457 |
|
|
DEFERRED TAX LIABILITIES |
11.395 |
10.765 |
9.281 |
|
|
|
|
|
|
|
|
TOTAL |
345.468 |
285.385 |
277.631 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
78.653 |
73.204 |
54.679 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
53.759
|
54.079 |
45.706 |
|
|
Sundry Debtors |
73.301
|
36.813 |
49.092 |
|
|
Cash & Bank Balances |
171.592
|
171.598 |
171.442 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
157.194
|
120.647 |
98.046 |
|
Total
Current Assets |
455.846
|
383.137 |
364.286 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
8.470
|
32.878 |
36.648 |
|
|
Other Current Liabilities |
6.459
|
6.191 |
2.524 |
|
|
Provisions |
174.102
|
131.887 |
102.162 |
|
Total
Current Liabilities |
189.031
|
170.956 |
141.334 |
|
|
Net Current Assets |
266.815
|
212.181 |
222.952 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
345.468 |
285.385 |
277.631 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
962.304 |
1497.728 |
1418.328 |
|
|
|
Job Charges |
51.453 |
42.175 |
29.919 |
|
|
|
Other Income |
12.959 |
12.758 |
18.841 |
|
|
|
TOTAL |
1026.716 |
1552.661 |
1467.088 |
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
77.452 |
24.727 |
79.526 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export |
57.076 |
586.263 |
630.304 |
|
|
TOTAL EARNINGS |
57.076 |
586.263 |
630.304 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
541.053 |
1265.070 |
1149.117 |
|
|
|
Capital Goods |
4.192 |
4.473 |
0.604 |
|
|
|
Consumable Stores |
0.742 |
2.123 |
0.514 |
|
|
|
Others |
0.595 |
0.692 |
0.365 |
|
|
TOTAL IMPORTS |
546.582 |
1272.358 |
1150.600 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
774.52 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
7.29
|
1.59 |
5.42 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.57
|
0.62 |
0.53 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.41
|
2.24 |
2.58 |
LOCAL AGENCY FURTHER INFORMATION
FINANCIAL RESULTS:
There is Net Profit after Tax of Rs.77.452 millions (Previous Year
Rs.24.727 millions) which is proposed to be carried forward. This is the
Nineteenth full year of commercial production. The Products of the company
enjoy good confidence and reputation in the market which is evident from
repeated enquiries/order from various prestigious buyers. A Sum of Rs.10.000
millions (Previous Year Rs.10.000 millions) has been transferred to General
Reserves.
OPERATIONS:
This is the Nineteenth Year of commercial Production. During the year
the company has achieved a turnover of Rs.1026.716 millions and Production of
18494.38877 Kgs as compared to the previous year’s turnover of Rs.1552.661
millions and Production of 15171.5958 Kgs. The products of the company continue
to enjoy good confidence and reputation in the market.
FORM 8:
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
90072405 |
|
Corporate identity
number of the company |
U36911RJ1988PTC004669 |
|
Name of the
company |
RAVINDRA HERAEUS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
A-196 (A), “F” Road, Mewar Industrial Area, Madri, |
|
Type of charge |
Immovable
Property Book Debts Movable Property Floating Charge |
|
Particular of
charge holder |
Bank of E-Mail: udaipu@bankofbaroda.co.in |
|
Nature of
description of the instrument creating or modifying the charge |
1. Supplemental composite
agreement of Hypothecation of Goods, Book Debts, Moveable Machinery and
Vehicles. 2. Memorandum of
extension of Equitable Mortgage by Deposit of Title Deeds. 3. Board
Resolution Dated 30-03-2009. |
|
Date of
instrument Creating the charge |
10/04/2009 |
|
Amount secured by
the charge |
Rs.507.800
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: 0.25% Below BPLR i.e.
12.25% p.a. presently with monthly rests, subject to change with change in
BPLR/ Credit rating/ Bank Norms/ RBI Norms. Terms of
Repayment: Period of 12
Months subject to review. Margin: 25% on Stock and
Book Debts. Extent and
Operation of the charge: The charge will
operate as exclusive first charge in favour of Bank of Baroda, Main Branch,
Opposite Town Hall, Udaipur – 313 001.
|
|
Short particulars
of the property charged |
1. Equitable Mortgage
of Factory Land and Building situated at Plot No. A-196(A), M.I.A., Madri, 2. Hypothecation
of entire Plant and Machinery, Furniture and Fixtures and other fixed assets. 3. Hypothecation
of entire stocks of raw materials, stocks in process, finished Goods,
Consumable Spare Parts, Packing Materials, Movable machinery, Vehicles and
entire Book Debts. |
|
Date of latest
modification prior to the present modification |
03/08/2005 |
|
Particulars of
the present modification |
The limit of bank
guarantee (performance/ financial) increased from existing Rs.250.000
millions to Rs.500.000 millions with sub limit of DA LC of Rs.15.000 millions
(usance upto 90 days for inland LC and 180 days for FGN. LC). Thus the
overall limit increased from existing Rs.257.800 millions to Rs.507.800
millions. Bank's first exclusive charge over entire fixed assets and current
assets of the company stands extended upto Rs.507.800 millions. |
FIXED ASSETS:
·
Land
·
·
Other Building
·
R and D Equipments
·
Electrical Installation
·
Dies Tools and Moulds
·
Furniture and Fixture
·
Plant and Machinery
·
Computer
·
Office Equipment
·
Vehicles
WEBSITE DETAILS:
PROFILE:
Production facilities for manufacturing articles of Platinum Group Metals for Fertilizer, Glass, Petrochemical, Pharmaceutical Industries and Research Institutes have been establish at Udaipur in Rajasthan state, India.
The chief promoter and Chairman of the company Ravindra Choksi has rich experience in this field for over four decades. He is ably assisted by his two engineer sons Kishore Choksi (Director) and Shailesh Choksi (Managing Director).
To expand the companies product range and to make use of the
latest technology, the company makes use of latest technology developed by W.C.
Heraeus GmbH,
The Joint venture will have ready access to state-of-the-art technology at all times.
The Plant is situated in the 'City of
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.44.20 |
|
|
1 |
Rs.72.25 |
|
Euro |
1 |
Rs.63.09 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
50 |
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 |
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This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.