MIRA INFORM REPORT
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Report Date : |
22.04.2011 |
IDENTIFICATION DETAILS
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Name : |
RIDDHI TELECOM PRIVATE LIMITED |
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Registered Office : |
B-62/12, Naraina Industrial Area, Phase –II, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
23.06.1999 |
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Com. Reg. No.: |
55 – 100350 |
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CIN No.: [Company
Identification No.] |
U64201DL1999PTC100350 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELR10153D |
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PAN No.: [Permanent
Account No.] |
AABCR6365R |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of high quality optical fiber cable product
and accessories. |
RATING & COMMENTS
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MIRA’s Rating : |
B (27) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 12680 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company with moderate track. The latest
financials have not been filed with the government which indicates a poor
corporate governance. Trade relations are fair. Business is active. Payments
are slow. Company can be considered for business dealings with caution. Profit and Loss of the company is not available |
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
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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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 (GENERAL DETAILS)
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Name : |
Mr. Aakash jain |
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Designation : |
Director |
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Contact No.: |
91-9810316054 |
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Date : |
18.04.2010 |
LOCATIONS
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Registered Office : |
B-62/12, Naraina Industrial Area, Phase –II, |
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Tel. No.: |
91-11-25891134 / 25894050 / 25892166 |
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Fax No.: |
91-11-25891236 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Factory : |
Todapur, Near Naraina, |
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Tel. No. : |
91-11-25891134 |
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Area : |
5000 sq.ft. |
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Location : |
Rented |
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Branch : |
B-62/13-12, Naraina Industrial Area, Phase – II, |
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Tel. No.: |
91-11-41419696/25894050/25892166/77 |
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Fax No. : |
91-11-25891236 |
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Area : |
2000 sq.ft. |
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Location : |
Rented |
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DIRECTORS
As on : 10.07.2007
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Name : |
Mr. Aakash Jain |
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Designation : |
Director |
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Date of Birth/Age : |
35 Years |
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Qualification : |
Graduate |
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Experience : |
12 years |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on : 10.07.2007
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Names of Allottes |
No. of Shares
Allotted |
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Rakesh Garg |
12450 |
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Akash Deep Jain |
12350 |
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Vishan Chand Goel |
7750 |
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N V Ramakrishnan |
8500 |
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Rohtas Gupta |
7500 |
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Promilla Kapoor |
7350 |
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Menu Jain |
6100 |
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Seema Jain |
6100 |
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V |
8000 |
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As on : 10.07.2007
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Equity Share
breakup (percentage of total equity) |
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Category |
Percentage |
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Directors or relatives of directors |
7.94 |
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Other top fifty (50) shareholders |
92.06 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of high quality optical fiber cable product
and accessories. |
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Terms : |
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Selling : |
Credit, Cash |
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Purchasing : |
Credit, Cash |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
50 (Approximately) |
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Bankers : |
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Facilities : |
Particular |
31.03.2007 (Rs. In millions) |
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SECURED LOAN ICICI Bank – Car Loan Overdraft Account Punjab National Bank (Cash Credit against hypothecation of stock) |
0.358 2.795 |
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Total |
3.153 |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Gajender Kumar Singh Chartered Accountant |
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Address : |
B-12, G.F Kalindi Kunj, |
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Pan No.: |
AOJPF1294P |
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Auditors : |
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Name : |
M. Avdhesh Kumar Goel Chartered Accountant |
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Address : |
EG – 102, Inder Puri, |
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Pan No.: |
ADZPG2181Q |
CAPITAL STRUCTURE
AS ON (31.03.2007)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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250000 |
Equity Shares |
Rs.10/- Each |
Rs.2.500 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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249750 |
Equity Shares |
Rs.10/- Each |
Rs.2.497
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
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|
31.03.2010 |
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Sales Turnover (Approximately) |
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|
40.000 |
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 |
2.497 |
1.992 |
1.992 |
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2] Share Application Money |
0.000 |
0.505 |
0.505 |
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3] Reserves & Surplus |
0.673 |
0.547 |
0.639 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
3.170 |
3.044 |
3.136 |
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LOAN FUNDS |
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1] Secured Loans |
3.153 |
2.988 |
0.037 |
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2] Unsecured Loans |
2.394 |
1.699 |
0.949 |
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TOTAL BORROWING |
5.547 |
4.687 |
0.986 |
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DEFERRED TAX LIABILITIES |
0.174 |
0.225 |
0.069 |
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TOTAL |
8.891 |
7.956 |
4.191 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.798 |
2.132 |
1.564 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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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 |
0.000 |
0.000 |
0.000 |
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Sundry Debtors |
15.340 |
6.809 |
4.624 |
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Cash & Bank Balances |
1.535 |
0.120 |
0.456 |
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Other Current Assets |
3.359 |
3.548 |
3.551 |
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Loans & Advances |
4.524 |
2.369 |
0.280 |
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Total
Current Assets |
24.758 |
12.846 |
8.911 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities and Provisions |
17.667 |
7.034 |
6.304 |
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Total
Current Liabilities |
17.667 |
7.034 |
6.304 |
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Net Current Assets |
7.091 |
5.812 |
2.607 |
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MISCELLANEOUS EXPENSES |
0.002 |
0.012 |
0.020 |
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TOTAL |
8.891 |
7.956 |
4.191 |
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KEY RATIOS
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Debt Equity Ratio (Total Liability/Networth) |
|
5.57 |
2.31 |
2.01 |
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Current Ratio (Current Asset/Current Liability) |
|
1.40 |
1.83 |
1.41 |
LOCAL AGENCY FURTHER INFORMATION
FIXED ASSETS:
v
Computers
v
Machinery and Tools
v
Plant and Machinery
v
Office Equipments
v
Furniture and Fixture
v
Vehicle
Form: 8
|
This form is for |
Modification of
charge |
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Charge
identification number of the modified |
90036715 |
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Corporate
identity number of the company |
U64201DL1999PTC100350 |
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Name of the
company |
RIDHHI TELECOM
PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
A-132, Shakur Pur, |
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Type of charge |
Immovable
Property Movable property
(not being pledge) |
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Particular of
charge holder |
Punjab National
Bank, Branch Office Inderpuri, E-Mail: bo3063@pnb.co.in |
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Nature of
description of the instrument creating or modifying the charge |
Hypothecation of goods
and book debts, counter indemnity for bank guarantee |
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Date of
instrument Creating the charge |
12.03.2009 |
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Amount secured by
the charge |
Rs.7.500 Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest BPLR+1% presently
12.5% p.a. subject to change from time to time as per banking guidelines Terms of Repayment Cash Credit limit
enhanced from Rs.3.200 Millions to Rs.8.000 Millions and Inland Bank
Guarantee enhanced from Rs.1.500 Millions to Rs.2.500 Millions Margin 25% on stocks and
40% on book debts / receivables arising out of genuine trade transactions Extent and Operation of the charge One hundered percent
of all outstanding loan amount and other bank charges including interest.
Second charge on residential Flat at B-20 Inderpuri, Others Lender at liberty
to stop making further advance or cancel without previous notice, commitment
charges 1 percent on undrawn portion, stock statement mandatory, unsecured
long term not to be withdrawn banks prior permission, penal interest as per
agreement |
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Short particulars
of the property charged |
Freehold Residential
cum Commercial Plot admeasuring 227.25 Sq.mts at Haldwani Road, Agriculture
Land of 13 Biswa at Ghaziabad, Residential Flat No. B-20 having super Area
150 Sq.yds at Inderpuri, |
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. 44.30 |
|
|
1 |
Rs. 72.92 |
|
Euro |
1 |
Rs. 64.69 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
27 |
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.