MIRA
INFORM REPORT
|
Report Date : |
10.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
ROBIN PRECISION PRODUCTS PRIVATE LIMITED |
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Registered
Office : |
Plot G/1515-1522/A, Ladhika Industrial Estate, Almighty Gate, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
18.10.2005 |
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Com. Reg. No.: |
04-46933 |
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Capital
Investment / Paid-up Capital : |
Rs.10.000
Millions |
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CIN No.: [Company Identification
No.] |
U29220GJ2005PTC046933 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Machine Tools like Car and Bike Tools |
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No. of Employees
: |
60 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
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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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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. There appears
some accumulated losses recorded by the company. However 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. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
INFORMATION PARTED BY
|
Name : |
Mr. Sailesh Tada |
|
Designation : |
Accounts Manager |
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Contact No.: |
91-9825551095 |
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Date : |
09.08.2011 |
LOCATIONS
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Registered Office/ Factory : |
Plot G/1515-1522/A, Ladhika Industrial Estate, Almighty Gate, Kalavad
Road, Lodhika, Metoda -360021, Gujarat, India |
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Tel. No.: |
91-2827-287631 to 35 |
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Fax No.: |
91-2827-287631 to 35 |
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E-Mail : |
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Website : |
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Area : |
11000 sq. ft. |
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Location : |
Owned |
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Factory : |
Metoda G.I.D.C., Plot No. G/1515- 152/A, Almighty Gate, Taluka
Lodhika, Rajkot-360004, |
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Tel. No.: |
91-2827-287631/ 34/35 |
DIRECTORS
AS ON 31.03.2010
|
Name : |
Mr. Rameshbhai Gobarbhai Vora |
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Designation : |
Director |
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Address : |
602, |
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Date of Birth/Age : |
02.07.1953 |
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Date of Appointment : |
18.10.2005 |
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Name : |
Mr. Samirbhai Ramesh Vora |
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Designation : |
Director |
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Address : |
602, |
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Date of Birth/Age : |
25.05.1981 |
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Date of Appointment : |
18.10.2005 |
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Name : |
Mrs. Manjulaben Rameshbhai Vora |
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Designation : |
Director |
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Address : |
602, |
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Date of Birth/Age : |
05.07.1959 |
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Date of Appointment : |
18.10.2005 |
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Name : |
Mr. Babubhai Naranbhai Sakhia |
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Designation : |
Director |
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Address : |
Shri Khodiyar Niwwas, 3/5 New Subhashnagar Society, |
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Date of Birth/Age : |
07.03.1979 |
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Date of Appointment : |
18.10.2005 |
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Name : |
Mr. Kishorbhai Babibhai Sakhia |
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Designation : |
Director |
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Address : |
Shri Khodiyar Niwwas, 3/5 New Subhashnagar Society, |
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Date of Birth/Age : |
25.05.1981 |
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Date of Appointment : |
18.10.2005 |
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Name : |
Mrs. Lilaben Babubhai Sakhia |
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Designation : |
Director |
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Address : |
Shri Khodiyar Niwwas, 3/5 New Subhashnagar Society, |
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Date of Birth/Age : |
12.10.1965 |
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Date of Appointment : |
18.10.2005 |
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Name : |
Ms. Manjulaben Vora |
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Designation : |
Director |
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Date of Birth/Age : |
05.07.1959 |
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Date of Appointment : |
18.10.2005 |
KEY EXECUTIVES
|
Name : |
Mr. Sailesh Tada |
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Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 31.03.2010)
|
Names of Shareholders |
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No. of Shares |
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Samirbhai R Vora |
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198000 |
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Rameshbhai G Vora |
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198000 |
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Manjulaben R Vora |
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197000 |
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Babubhail N Sakhia |
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150000 |
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Lilaben B. Sakhia |
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150000 |
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Kishorbhai B Sakhia |
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99000 |
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R G Vora (HUF) |
|
1000 |
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|
1000 |
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Rishi R Vora |
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1000 |
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Priyanka S Vora |
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1000 |
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Samirbhai R Vora - HUF |
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1000 |
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Riddhi R Vora |
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1000 |
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Khushbu H Kunadia |
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1000 |
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Hiteshbhai B Sakhia |
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1000 |
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Total |
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1000000 |
Equity Share Breakup (Percentage of Total Equity)
(AS ON 31.03.2010)
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Category |
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Percentage |
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Directors or relatives of directors |
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100.00 |
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Total
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Machine Tools like Car and Bike Tools |
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Products : |
· Solid Carbide Tools · CNC Tooling |
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Brand Names : |
“Blood” |
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Exports : |
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Products : |
Car Bide Tools |
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Countries : |
China, Germany |
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Imports : |
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Products : |
Car Bide Roads |
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Countries : |
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Terms : |
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Selling : |
Credit – Advance |
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Purchasing : |
Credit – Advance |
PRODUCTION STATUS AS ON 31.03.2010
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Particulars |
Unit |
Actual Production |
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Cutting Tools and Machined Tools |
Nos. |
29466 |
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GENERAL INFORMATION
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Customers : |
Retailers and Dealers ·
Aalidhra
Textool Engg. Private Limited ·
A.A.R.P.
Industries ·
Advance
Machine Tools Private Limited ·
Aekam
Industries ·
Aerrow
Engineers ·
Ajanta
Limited ·
Batliboi
Limited ·
B B
Engineering Works ·
B.B.
Industries ·
Beta Tools
Private Limited ·
Bhagwati
Steel ·
Bharat
Engineering Works ·
Chirag
Enterprises ·
Cnc
Solutions ·
Corrtech
Energy Ltd. ·
Daki
Engineering Works ·
Deep
Impex ·
Dhara
Engineering ·
Dhvani
Engineering ·
Diamond
Tools (India) ·
Electro
Dies and Tools ·
Etches
Jewellry and Watches ·
Excel
Machine Tools ·
Finecast
Industries ·
Fine
Wirecut ·
Flovel
Valves Private Limited ·
Friend's
Techno ·
Friends
Tools ·
Gajanand
Engineering ·
Ganesh
Engineering ·
Gautam
Technocast ·
Intertool
Engineering and Trading Company Limited ·
Jaibros
Tools ·
Jai
Khodiyar Industries · Jaivel Synergies Private Limited |
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Suppliers : |
· Accurate Power Products · Apex Machine and Tools Company · Luit Nirman - Guwahati · Universal Technocast · A To Z Steel Alloys Private Limited · Ultra Auto Industries · Shree Ramnath Engg. Works · Global Air Tech System · Krishna Hardware and Tools · Jinedra Traders · Birla Precision Technologies Limited · Mahek Sales Corporation 7 · Gajjar Techno Tools · Dynamic Abbrasives · Tools House (India) JSR · IMI Machine Tools Private Limited · Micro Products · Devu Core Products · Hemant Tools Private Limited · Super abrasive Toolings · Lexis Tooling Systems Private Limited · Shreeji Agency · Shyam Enterprise |
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No. of Employees : |
60 (Approximately) |
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Bankers : |
·
Bank of India, Kalawad Road Branch, “Titan” Near G.T. Sheth School, K.K.V Hall Chowk,
Kalawad Road, Rajkot-360005, Gujarat, India ·
The Co-Operative Bank of Rajkot Limited, Sahkar Saurah Branch, Saurashtra University Road, Rajkot 360007, Gujarat,
India ·
HDFC Bank Limited ·
ICICI Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Ramesh M. Patel and Company Chartered Accountant |
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Address : |
Room No. 228, Block No. 30, G.H. Boardl Kodlyar Colony,
Jamnagar-361006, |
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Tel. No.: |
91-281-2574159 |
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Mobile No.: |
91-9924130082 |
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Fax No.: |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
1050000 |
Equity Shares |
Rs.10/- each |
Rs.10.500 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
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|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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|
SHAREHOLDERS FUNDS |
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1] Share Capital |
10.000 |
10.000 |
10.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
(21.362) |
(15.973) |
(7.316) |
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NETWORTH |
(11.362) |
(5.973) |
2.684 |
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LOAN FUNDS |
|
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1] Secured Loans |
51.934 |
54.346 |
27.541 |
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2] Unsecured Loans |
36.774 |
31.742 |
21.040 |
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TOTAL BORROWING |
88.708 |
86.088 |
48.581 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
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TOTAL |
77.346 |
80.115 |
51.265 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
53.755 |
57.939 |
34.964 |
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Capital work-in-progress |
0.000 |
0.000 |
5.254 |
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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 |
10.092
|
9.704
|
6.063 |
|
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Sundry Debtors |
11.524
|
6.717
|
1.934 |
|
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Cash & Bank Balances |
0.333
|
0.258
|
0.568 |
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Other Current Assets |
0.000 |
0.000 |
0.000 |
|
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Loans & Advances |
7.786
|
9.058
|
4.322 |
|
Total
Current Assets |
29.735
|
25.737
|
12.887 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
4.474 |
3.631 |
3.413 |
|
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Current Liabilities |
1.693
|
1.275
|
0.000 |
|
|
Provisions |
0.029
|
0.075
|
0.318 |
|
Total
Current Liabilities |
6.196
|
4.981
|
3.731 |
|
|
Net Current Assets |
23.539
|
20.756
|
9.156 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.052 |
1.420 |
1.891 |
|
|
|
|
|
|
|
|
TOTAL |
77.346 |
80.115 |
51.265 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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|
|
SALES |
|
|
|
|
|
|
|
Sales |
30.171 |
22.445 |
5.321 |
|
|
|
Other Income |
0.820 |
0.526 |
0.000 |
|
|
|
TOTAL (A) |
30.991 |
22.971 |
5.321 |
|
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|
|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumed |
4.982 |
6.409 |
5.885 |
|
|
|
Direct Expenses |
7.480 |
9.618 |
2.966 |
|
|
|
Miscellaneous Expenses Written off |
0.026 |
0.472 |
0.472 |
|
|
|
Increase/ Decrease in Stock |
1.131 |
(4.287) |
0.000 |
|
|
|
Administrative Expenses |
5.601 |
4.932 |
2.026 |
|
|
|
TOTAL (B) |
19.220 |
17.144 |
11.349 |
|
|
|
|
|
|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
11.771 |
5.827 |
(6.028) |
|
|
|
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|
|
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Less |
FINANCIAL
EXPENSES (D) |
9.679 |
7.902 |
2.583 |
|
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|
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2.092 |
(2.075) |
(8.611) |
|
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|
|
|
|
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
7.475 |
6.527 |
0.000 |
|
|
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|
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|
PROFIT BEFORE
TAX (E-F) (G) |
(5.383) |
(8.602) |
(8.611) |
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|
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Less |
TAX (H) |
0.000 |
0.056 |
0.063 |
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|
PROFIT AFTER TAX
(G-H) (I) |
(5.383) |
(8.658) |
(8.674) |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(15.973) |
(7.315) |
NA |
|
|
|
|
|
|
|
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|
Add |
Excess/ (Short) Provision of FBT |
(0.006) |
0.000 |
(0.019) |
|
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|
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|
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|
BALANCE CARRIED
TO THE B/S |
(21.362) |
(15.973) |
(8.693) |
|
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|
|
|
|
|
|
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|
Earnings Per
Share (Rs.) |
(5.38) |
-- |
-- |
|
|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover (Approximately) |
|
|
30.000 |
|
|
|
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|
The above information has been parted by Mr. Sailesh Tada.
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
(17.36)
|
(37.69) |
(163.01) |
|
|
|
|
|
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|
Net Profit Margin (PBT/Sales) |
(%) |
(17.84)
|
(38.32) |
(161.83) |
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|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(6.44)
|
(10.28) |
(17.99) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.47
|
1.44 |
(3.20) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
(8.35)
|
(15.24) |
19.49 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.80
|
5.16 |
3.45 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
Sundry Creditors for Capital Assets |
0.783 |
1.987 |
2.191 |
|
Sundry Creditors for Goods |
2.522 |
0.442 |
0.669 |
|
Sundry Creditors for Expenses |
1.169 |
1.202 |
0.553 |
|
|
|
|
|
|
Total |
4.474 |
3.631 |
3.413 |
NOTE:
Registered office of the company has been shifted from Standard House, 6, Mavdi Plot, Rajkot 360004, Gujarat, India to the present address w.e.f. 21.12.2010
TRADE REFERENCE:
· Jyoti CNC Automation Private Limited – Metoda
· Relican Rotoflex Private Limited – Metoda
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U29220GJ2005PTC046933 |
|
Name of the
company |
ROBIN PRECISION PRODUCTS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Standard House, 6, Mavdi Plot, Rajkot-360004, |
|
This form is for |
Creation of
Charge |
|
Type of charge |
Immovable Property |
|
Particular of
charge holder |
The Co-Operative
Bank of Rajkot Limited, “Sahkar Saurabh”, Saurasthra University Road Branch,
Rajkot-360007, Gujarat, India |
|
Nature of
instrument creating charge |
Instrument Relating
to Deposit of Title Deeds |
|
Date of
instrument Creating the charge |
10.02.2010 |
|
Amount secured by
the charge |
Rs.2.000 Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest 13% Terms of
Repayment The charge will
be repaid in 84 Monthly Installments Margin 100% Extent and
Operation of the charge The charge will
be in operation till the entire amount of charge is repaid including
interest, if any. |
|
Short particulars
of the property charged |
|
FIXED ASSETS:
·
Factory
·
Land and Building
·
Plant and Machinery
·
Machine Tools
·
Electrifications
·
Jigs and Fixtures
·
Office Equipments
·
Computer Systems
·
Printer and Computer
·
Vehicle
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.45.17 |
|
|
1 |
Rs.73.72 |
|
Euro |
1 |
Rs.64.26 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
29 |
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.