MIRA
INFORM REPORT
|
Report Date : |
04.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
RT METALS COMPANY PRIVATE LIMITED |
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Registered
Office : |
602, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
18.05.2009 |
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Com. Reg. No.: |
11-192437 |
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Capital
Investment/ Paid-up Capital: |
Rs. 14.290
Millions |
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CIN No.: [Company Identification
No.] |
U51909MH2009PTC192437 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR25252D |
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PAN No.: [Permanent Account No.] |
AAECR3480Q |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Trader of Iron and Steel. |
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No. of
Employees: |
Approximately 10 |
RATING & COMMENTS
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MIRA’s Rating : |
B (26) |
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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 58000 |
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Status : |
New Company |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a new company establishing itself gradually. Trade
relations are reported as fair. Business is active. Payments are reported to
be slow. The company can be considered for business dealings with some caution.
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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) |
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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
|
Name : |
Mr. Bhumit Kishore Gandhi |
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Designation : |
Director |
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Contact No.: |
91-22-26052310 |
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Date : |
04.08.2011 |
LOCATIONS
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Registered Office : |
602, |
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Tel. No.: |
91-22-26052310/ 26052309/ 26463583 ® |
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Fax No.: |
91-22-26059040 |
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E-Mail : |
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Area : |
Owned |
DIRECTORS
As on 29.09.2010
|
Name : |
Mr. Bhumit Kishore Gandhi |
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Designation : |
Director |
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Address : |
503, 5th Floor, Palm Grove Co-Operative Housing Society
East, Avenue, Santacruz- West, Mumbai-400054, |
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Date of Birth/Age : |
18.06.1981 |
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Date of Appointment : |
18.05.2009 |
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DIN No.: |
02599843 |
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Name : |
Mrs. Rupaben Kishore Kumar Gandhi |
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Designation : |
Director |
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Address : |
503, 5th Floor, Palm Grove, Co-Operative Housing Society
East, Avenue, Santacruz- West, Mumbai-400054, |
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Date of Birth/Age : |
04.10.1951 |
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Date of Appointment : |
18.05.2009 |
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DIN No.: |
02602423 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Bhumit K Gandhi |
|
359000 |
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Rupa K Gandhi |
|
370000 |
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Bhoomika Gandhi |
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100000 |
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Bhumit Gandhi HUF |
|
200000 |
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Kishore Gandhi HUF |
|
100000 |
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Kishore Gandhi |
|
50000 |
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Kunal Gandhi |
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100000 |
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Tina Gandhi |
|
150000 |
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Total |
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1429000 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2010
|
Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader of Iron and Steel. |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Customers : |
Wholesalers |
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No. of Employees : |
Approximately 10 |
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Bankers : |
Bank of Baroda, Khetwadi Branch, Shah Mansion, 213, Khetwadi Main
Road, Mumbai-400004, Maharashtra,
India |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
R S Sharma and Company Chartered Accountant |
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Address : |
107, Apollo Arcade, Near Sona Udyog, R K Singh Marg, Andheri (East),
Mumbai-400069, |
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Tel. No.: |
91-22-42117000/ 7900 |
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Fax No.: |
91-28397641 |
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E-Mail : |
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Website: |
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Associates/Subsidiaries : |
Merchants Steels |
CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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2000000 |
Equity Shares |
Rs. 10/- each |
Rs. 20.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1429000 |
Equity Shares |
Rs. 10/-
each |
Rs. 14.290
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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14.290 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.189 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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14.479 |
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LOAN FUNDS |
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1] Secured Loans |
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|
0.000 |
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2] Unsecured Loans |
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|
0.240 |
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TOTAL BORROWING |
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|
0.240 |
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DEFERRED TAX LIABILITIES |
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0.065 |
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TOTAL |
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14.784 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.031 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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34.556 |
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Sundry Debtors |
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66.601 |
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Cash & Bank Balances |
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0.046 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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1.168 |
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Total
Current Assets |
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102.371 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
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24.374 |
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Other Current Liabilities |
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63.244 |
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Provisions |
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0.000 |
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Total
Current Liabilities |
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87.618 |
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Net Current Assets |
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14.753 |
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MISCELLANEOUS EXPENSES |
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|
0.000 |
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TOTAL |
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14.784 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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|
31.03.2010 |
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SALES |
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Gross Turnover |
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115.430 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
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NA |
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Advertising Expenses |
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TOTAL |
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NA |
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PROFIT BEFORE
TAX |
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0.255 |
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Less |
TAX |
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0.066 |
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PROFIT AFTER TAX
|
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0.189 |
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Earnings Per
Share (Rs.) |
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Particulars |
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31.03.2011 |
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Sales Turnover (Approximately) |
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500.000 |
Expected Sales (2011-2012) : Rs. 600.000
The above information has been parted by Mr. Bhumit Kishore Gandhi (Director)
KEY RATIOS
|
PARTICULARS |
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|
31.03.2010 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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0.25 |
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Return on Investment (ROI) (PBT/Networth) |
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0.02 |
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Debt Equity Ratio (Total Liability/Networth) |
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6.07 |
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Current Ratio (Current Asset/Current Liability) |
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1.17 |
LOCAL AGENCY FURTHER INFORMATION
Performance
Review:
It has been more than a year that countries across the world, including
Subject didn’t remain untouched by these developments. It chose to meet
the challenge of toughest time by reflecting upon the new practice and
modifying them in the light of this changed environment. As this was the first
year of operations. Steadily pushing towards the goal of maximizing yield from
physical and human capital, subject reinforced its commitment towards building
strong systems and resilient attitudes.
With soaring input prices, fluctuating market
and the world economy in a state of flux, subject remained undeterred in
placing greater emphasis on all round cost efficiency and going forward with
its modernization and expansion plans.
The year 2009-10 markets sets a milestone for
RTMPL with challenging tasks and rewarding actions. At this juncture, they one
again commit themselves to evolving time-tested and resilient practices and
deepn the resolve to fulfill the commitments to the Nation.
In spite of adverse market conditions the company
and its first yea rof operation, Subject has achieved the turnover of Rs.
115.500 Millions. The net profit of the company (after taxes) for its five
months of operations achieved Rs. 0.189 Million which is remarkable considering
the present market scenario.
The company’s strategy to focus on the
infrastructure projects for supply of the structural steel required for these
projects, with the aim of increasing its focus on infrastructure projects it is
exploiting its growth opportunities in this business by leveraging more than 30
years of promoter’s experienced and expertise of young talent. The company
during its period of operation to various initiatives to enhance its project
execution capabilities and reduction in cost of product for supplying the materials
to infrastructure projects at affordable prices.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U51909MH2009PTC192437 |
|
Name of the
company |
RT METALS COMPANY PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
602, |
|
This form is for |
Creation of
Charge |
|
Type of charge |
Book Debts Movable Property |
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Particular of
charge holder |
Bank of Baroda, Khetwadi Branch, Shah Mansion, 213, Khetwadi Main
Road, Mumbai-400004, Maharashtra,
India |
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Nature of
instrument creating charge |
Composite Hypothecation
Agreement |
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Date of
instrument Creating the charge |
04.02.2010 |
|
Amount secured by
the charge |
Rs. 80.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest 2.25% over BPLR minimum
14.25% p.a. with monthly rest. Terms of
Repayment On Demand Margin Stock- 30% Book-Debts- 40% Extent and
Operation of the charge The charge is
created to secure Cash Credit (Hypothecation of Goods and Book-debts)
facility of Rs. 80.000 Millions together with interest tax, additional
interest, further, penal interest, commission, costs, charges and expenses
etc. payable to bank. |
|
Short particulars
of the property charged |
Stocks both present
and future and including all stocks or RMs, WIP, SFGs, FGs such as TMT Bars,
MS Beams, Channels, Angles, Pipes and plates, Packing Materials and stores
etc. All present and
future book-debts, outstanding, monies, receivables, Claims, bills, contracts,
engagement sand securities which are due and owing during the course of the
company. All tangible
movable machinery and plant and cranes, boats and crafts and the vehicles
together with spares, tools and accessories and other movables both present
and future. Furniture,
fixture and fittings and office equipments whether installed or not etc. to
the company’s work at 602 Simran Piaza Khar (West), Mumbai-400052 |
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.44.38 |
|
|
1 |
Rs.72.21 |
|
Euro |
1 |
Rs.62.87 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
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 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
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.