MIRA INFORM REPORT

 

 

Report Date :

20.08.2011

 

IDENTIFICATION DETAILS

 

Name :

R R OOMERBHOY PRIVATE LIMITED       

 

 

Registered Office :

5 Soona Mahal 2nd Floor, 143 Marine Drive, Veer Nariman Road, Mumbai – 400020, Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

31.03.2010

 

 

Date of Incorporation :

15.07.1992

 

 

Com. Reg. No.:

11-67695

 

 

Capital Investment / Paid-up Capital :

Rs. 20.000 Millions

 

 

CIN No.:

[Company Identification No.]

U15140MH1992PTC067695

 

 

Legal Form :

Private Limited Liability Company 

 

 

Line of Business :

Manufacturers and exporters of Barilla Pasta, Sauces, Olive Oil, Boursin Cheese, Maille Vinegar, Risotto, Refined Groundnut Oil, Mustard Oil, Sunflower Oil, Sesame Oil.

 

 

No. of Employees :

250 Approximately

 

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (27)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

 

 

 

 

Maximum Credit Limit :

USD 85592

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow

 

 

Litigation :

Clear

 

 

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.

 

The Profit and Loss accounts 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.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Sameer Waikar

Designation :

Account Manager

Contact No.:

91-9820055232

Date :

19.08.2011

 

 

LOCATIONS

 

Registered

/ Corporate Office :

F-5, Soona Mahal, 2nd Floor, 143 Marine Drive, Veer Nariman Road, Mumbai – 400 020, Maharashtra, India

Tel. No.:

91-22-22880919 / 22880920 / 22880921 / 56399000 / 2399000 / 66399000

Mobile No.:

91-9820055232 (Mr. Sameer Waikar)

Fax No.:

91-22-22026929 / 2

E-Mail :

ashfakbaig@gmail.com

rropl@vsnl.com

info@rropl.com

swaikar@rropl.com

Website :

www.rropl.com

Area :

4000 Sq.fts

Location :

Rented

 

 

Warehouse :

Near Durgesh Park, Thane, Belapur Road

 

 

Factory :

A8 Supa Parner, MIDC Taluka Parner, Distric Ahmednagar, Maharashtra, India

Area :

21000 sq.mtr

Location :

Leased

 

 

Branches :

EAST

3, Colonel Biswas Road, Ground Floor, Beck Bagan, Kolkata - 700 019, West Bengal, India    

Tel No.: 91-33-22814990, 22830570
Email:  kolkata@rropl.com

 

NORTH

F14, Shopping Complex, MAnsarovar Garden, New Delhi 110015, India

Tel. No.: 91-11-25457304 / 25457318

 

25Km, NH 8, Near RDB Auto, Ajmer Road, Hardhyanpura, Bagru, Jaipur 303011, Rajasthan, India

 

SOUTH
230, Doddamuniyamma Compound, Kacharakanahalli, 80 Feet Main Road Cross, ST. Thomas Town Post. Bangalore - 560084       

Tel. No.: 91-80-25433421, 25433422
Email: bangalore@rropl.com

 

 

Redistribution Centre:

J-10 to J-14, Rajlaxmi Commercial Complex, Opposite Durgesh Park, Village Kalher, Thane 7 Bhiwandi Road, Thane, Maharashtra, India

Tel No.:

91-952522-273354 / 55

Fax. No.:

91-952552-774869

E-mail:

kalher@rropl.com

 

 

DIRECTORS

 

AS ON 15.09.2010

 

Name :

Mr. Riyad R. Oomerbhoy

Designation :

Managing Director

Address :

5, Soona Mahal, 3rd Floor, Chowpatty Sea Fort, Mumbai – 400 007, Maharashtra

Date of Birth/Age :

25.08.1969

Qualification :

B.B.A

Experience :

10 years

Date of Appointment :

15.07.1992

 

 

Name :

Mrs. Noorjehan R. Oomerbhoy

Designation :

Director

Address :

5, Soona Mahal, 3rd Floor, Chowpatty Sea Fort, Mumbai – 400 007, Maharashtra

Date of Birth/Age :

28.11.1948

Qualification :

B.A. LLB

Date of Appointment :

15.07.1992

 

 

Name :

Mr. Rashid S. Oomerbhoy

Designation :

Director

Address :

Noor Mansion, 7, Chowpatty Sea Face, Mumbai – 400 007, Maharashtra

Date of Birth/Age :

18.03.1942

Qualification :

B.Com

Date of Appointment :

15.07.1992

 

 

Name :

Ms. Roohi R. Oomerbhoy

Designation :

Director

Address :

5, Soona Mahal, 3rd Floor, Chowpatty Sea Fort, Mumbai – 400 007, Maharashtra

Date of Birth/Age :

01.11.1966

Qualification :

B.A

Date of Appointment :

15.07.1992

 

 

KEY EXECUTIVES

 

Name :

Mr. Sameer Waikar

Designation :

Account Manager

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 15.09.2010

 

Names of Shareholders

No. of Shares

Noorjehan Oomerbhoy

1199200

Riyad Oomerbhoy

399733

Roohi Oomerbhoy

399733

Rashid S Oomerbhoy

1334

Total

2000000

 

 Equity Share Breakup (Percentage of Total Equity)

AS ON 15.09.2010

 

Category

 

Percentage of Holding

 

 

 

Directors or relatives of directors

 

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturers and exporters of Barilla Pasta, Sauces, Olive Oil, Boursin Cheese, Maille Vinegar, Risotto, Refined Groundnut Oil, Mustard Oil, Sunflower Oil, Sesame Oil.

 

 

Products :

·         Barilla Pasta           

·         Boursin Cheese      

·         Maille Vinegar

·         Mustard Oil

·         Olive Oil     

·         Refined Groundnut Oil

·         Risotto       

·         Sauces      

·         Sesame Oil.

·         Sunflower Oil                      

 

 

Exports :

 

Products :

·         Barilla Pasta

·         Boursin Cheese

·         Maille Vinegar

  • Mustard Oil
  • Olive Oil
  • Sauces, etc.

Countries :
  • UAE
  • Singapore
  • USA

 

 

Imports :

 

Products:

Raw Material

Countries :

Italy

 

 

Terms :

 

Selling :

Cash, Advance Payment, Credit

 

 

Purchasing :

Cash, Advance Payment, Credit

 

 

GENERAL INFORMATION

 

Customers :
  • Dealers 

 

 

No. of Employees :

250 Approximately

 

 

Bankers :
  • Union Bank of India, Mumbai Samachar Marg Branch, 66/80, Mumbai Samachar Marg, Fort, Mumbai – 400 023, Maharashtra, India
  • Standard Chartered bank, Fort Branch
  • ICICI Bank
  • Union Bank of India, 66/80, M.S. Marg, Fort, Mumbai – 400 023

 

 

 Facilities:

Secured Loans

31.03.2010

 (Rs. In Millions)

31.03.2009

(Rs. In Millions)

Loans from Bank (Cash Credit)

(Against hypothecation of stocks)

89.481

67.782

Loan from Bank (Motor Car)

 (Against hypothecation of Motor Car)

11.808

5.504

Loans against F.D

20.000

20.000

Total

121.289

93.286

 

 

Unsecured Loans

31.03.2010

 (Rs. In Millions)

31.03.2009

 (Rs. In Millions)

From Director, Shareholders

20.510

20.510

Inter-corporate Deposits

3.129

3.129

Consignee agents and stockiest deposit From others

6.583

7.435

Total

29.979

31.074

 

 

Banking Relations :

--

 

 

Financial institutions:

Fiat Sundaram Auto Finance Limited, No. 21 Patullos Road, Chennai – 600 002

 

 

Auditors :

 

Name :

Sunderji Gosar and Company

Chartered Accountants

Address :

301, Hind Rajasthan Building, 95, Dadasaheb Phalke Road, Near Dadar Railway Station (Central Railway), Mumbai – 400 014, Maharashtra

Tel. No.:

91-22-24113441/2415046

Fax No.:

91-22-24168974

 

 

Name :

Vohra and Associates

Chartered Accountants

Address :

103, Rewa Chabers, 31, New Marine Lines, Mumbai 400020, Maharashtra, India

Tel. No.:

91-22-22005934 / 22031110

Fax No.:

91-22-22063289

 

 

Associates/Subsidiaries :

Nil

 

 

CAPITAL STRUCTURE

 

AS ON 15.09.2010

 

Authorised Capital :

 

No. of Shares

Type

 

Value

Amount

2000000

Equity Shares

Rs. 10/- Each

Rs. 20.000 Millions

 

 

Issued, Subscribed & Paid-up Capital :

 

No. of Shares

Type

 

Value

Amount

 

2000000

Equity Shares

Rs. 10/- Each

Rs. 20.000 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

20.000

20.000

1.500

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

2.000

2.000

19.107

4] (Accumulated Losses)

(0.602)

(0.913)

0.000

NETWORTH

21.398

21.087

20.607

LOAN FUNDS

 

 

 

1] Secured Loans

121.289

93.286

59.766

2] Unsecured Loans

29.979

31.074

31.832

TOTAL BORROWING

151.268

124.360

91.598

DEFERRED TAX LIABILITIES

0.000

0.000

0.000

 

 

 

 

TOTAL

172.666

145.447

112.205

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

48.454

35.699

25.004

Capital work-in-progress

0.000

0.000

0.000

 

 

 

 

INVESTMENT

0.000

0.000

6.375

DEFERREX TAX ASSETS

5.007

4.939

1.116

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
84.641
89.364
51.924

 

Sundry Debtors
34.244
40.064
26.031

 

Cash & Bank Balances
44.918
7.260
0.203

 

Other Current Assets
0.000
0.000
0.051

 

Loans & Advances
28.195
45.555
63.395

Total Current Assets
191.998
182.243
141.604

Less : CURRENT LIABILITIES & PROVISIONS
 
 

 

 

Sundry Creditor

49.966
63.820
52.867

 

Current Liabilities
20.492
11.319
2.027

 

Provisions
2.335
2.295
7.000

Total Current Liabilities
72.793
77.434
61.894

Net Current Assets
119.205
104.809
79.710

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

172.666

145.447

112.205

 

 

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2010

31.03.2009

31.03.2008

Debt Equity Ratio

(Total Liability/Networth)

 
10.47
9.57
7.45

 

 
 
 
 

Current Ratio

(Current Asset/Current Liability)

 
2.63
2.35
2.29

 

 

LOCAL AGENCY FURTHER INFORMATION

 

 TRADE References:-

·         Barilla Ger, Italy

·         AL Maya, Dubai

·         Shri Ambica, Singapore

 

Bankers Charges Report as per Registry

 

 

Corporate identity number of the company

U15140MH1992PTC067695

Name of the company

R R OOMERBHOY PRIVATE LIMITED       

Address of the registered office or of the principal place of  business in India of the company

5 Soona Mahal 2nd Floor, 143 Marine Drive, Veer Nariman Road, Mumbai – 400020, Maharashtra, India

This form is for

Modification of charge

Type of charge

Immovable property

Particular of charge holder

Union Bank of India, Mumbai Samachar Marg Branch, 66/80, Mumbai Samachar Marg, Fort, Mumbai – 400 023, Maharashtra, India

Email: msmcredit@unionbankofindia.com

Nature of instrument creating charge

Extension To Memorandum Of Equitable Mortgage

Date of instrument Creating the charge

20.04.2011

Amount secured by the charge

Rs. 131.100 millions

Brief of the principal terms an conditions and extent and operation of the charge

Rate of interest

Interest as determined by the bank from time to time.

 

Terms of repayment

On Demand

 

Margin

As Per Sanction Terms.

 

Extent and operation of the charge

To secure an aggregate amount of Rs.131.100 millions granted by the bank to the company as under :-

 

Nature of facility                                             limit

Cash credit (hypothecation) ...Rs.900.00 Millions w/w

Packing Credit/Fdbp/Fudbp .(Rs. 5.000 millions)

Term Loan ............................Rs.411.00 millions

 

Short particulars of the property charged (Including location of the property)

Extension of equitable mortgage in favour of the bank in respect of the company's immovable property viz. All the piece or parcel of land known as plot no.a-8, in the supa parner growth centre

 

Industrial area within the village limit of  Waghunde and Taluka and registration sub District Parner, District and Registration distrIct Ahmednagar containing by admeasurements 22750 sq. Mtrs.

 

Or thereabout together with buildings and structures and plant and machinery.

Date of instrument modifying the charge

24.12.2009

Particulars of the present modification

Extension of equitable mortgage in favour of the bank in respect of the company's immovable property situated  at plot no.a-8 in the supa-parner growth centre industrial area within village limits of waghunde, taluka parner, district ahmednagar together with buildings, structures, plant and machinery as security for the enhanced aggregate amount of Rs.131.100 millions granted by the bank to the company together with interest, costs, charges, expenses and and all other monies payable thereon.

 

 Fixed assets

 

·         Computer

·         Furniture and Fixtures

·         Office Equipments

·         Plant and Machinery

·         T.V.

·         Shrink Wrapping Machines

·         Soaps, Dies and Boxes

·         Motorcar

·         Air Conditioner

·         Electrical Cost

·         Xerox Machine.

 

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.45.61

UK Pound

1

Rs.75.32

Euro

1

Rs.65.68

 

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

4

OPERATING SCALE

1~10

4

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

2

--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

 

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

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.