MIRA
INFORM REPORT
|
Report Date : |
08.01.2011 |
IDENTIFICATION DETAILS
|
Name : |
ROTOMAC GLOBAL PRIVATE LIMITED |
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Formerly Known
As : |
ROTOMAC PENS PRIVATE LIMITED |
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Registered
Office : |
201,City Centre, 63/2 The Mall, Kanpur-208004, Uttar Pradesh, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
03.08.1992 |
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Com. Reg. No.: |
014605 |
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CIN No.: [Company Identification
No.] |
U51396UP1992PTC014605 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
KNPR00089F |
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PAN No.: [Permanent Account No.] |
AABCR1441E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturers and Exporters of all types of Plastics
Writing Instruments. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1880520 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is and established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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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 |
LOCATIONS
|
Registered Office : |
201,City Centre, 63/2 The Mall, Kanpur-208004, |
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Tel. No.: |
91-512-2330142/ 3011000 |
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Fax No.: |
91-512-2330151 |
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E-Mail : |
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|
Website : |
DIRECTORS
(AS ON 30.09.2010)
|
Name : |
Mr. Vikram Kothari |
|
Designation : |
Managing Director |
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Address : |
7/23, Tilak Nagar, |
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Date of Birth/Age : |
12.10.1949 |
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Qualification : |
B. Com |
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Experience : |
34 years |
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Date of Appointment : |
03.08.1992 |
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DIN No : |
00454708 |
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Name : |
Mrs. Sadhna Kothari |
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Designation : |
Director |
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Address : |
7/23, Tilak Nagar, |
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Date of Birth/Age : |
10.10.1952 |
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Date of Appointment : |
19.07.1999 |
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DIN No : |
00185743 |
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Name : |
Mr. Rahul Kothari |
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Designation : |
Director |
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Address : |
7/23, Tilak Nagar, |
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Date of Birth/Age : |
29.11.1986 |
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Date of Appointment : |
01.12.2004 |
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DIN No : |
00454777 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2010)
|
Names of Shareholders |
|
No. of Shares |
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|
|
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|
Vikram Kothari |
|
1365400 |
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Sadhna Kothari |
|
184500 |
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Rahul Kothari |
|
100 |
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Total |
|
1550000 |
(AS ON 30.09.2010)
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Category |
|
Percentage |
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Directors or relative of directors |
|
100.00 |
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and Exporters of all types of Plastics
Writing Instruments. |
PRODUCTION STATUS (AS ON 31.03.2010)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
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|
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|
|
Pens and Markers |
(Pcs.) |
NA |
Un-ascertainable |
209871988 |
|
Refill |
(Pcs.) |
NA |
Un-ascertainable |
16125994 |
GENERAL INFORMATION
|
Bankers : |
· Allahabad Bank Main Branch Civil Lines, Kanpur-208001, · ICICI Bank Limited · HDFC Bank Limited ·
Bank of |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
J. N. Sharma and Company Chartered Accountants |
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Address : |
58/4, |
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Tel. No.: |
91-512 -2366629/ 3243049 |
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Fax No.: |
91-512 -2363726 |
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E-Mail : |
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Associates
Company : |
· Rave Real Estate Private Limited |
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Subsidiary
Company : |
· RFL Infrastructure Private Limited · Rotomac Exports Private Limited · Rotomac Polymer Private Limited · Crown Alba Writing Instruments India Private Limited · Realty Rotomac ·
· Rotomac Exim Private Limited · Kothari Foods and Fragrances |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
95,00,000 |
Equity Shares |
Rs.10/- each |
Rs.95.000 millions |
|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1550000 |
Equity Shares |
Rs.10/- each |
Rs.15.500 millions |
|
|
|
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|
NOTE:
Out of above 775000 shares of Rs.10/- each are
allotted as fully paid up way of Bonus Shares by capitalization of General
reserve.
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 |
15.500 |
15.500 |
15.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
454.630 |
405.007 |
377.756 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
470.130 |
420.507 |
393.256 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
3550.405 |
521.935 |
128.490 |
|
|
2] Unsecured Loans |
333.991 |
387.384 |
226.616 |
|
|
TOTAL BORROWING |
3884.396 |
909.319 |
355.106 |
|
|
DEFERRED TAX LIABILITIES |
35.478 |
38.077 |
32.296 |
|
|
|
|
|
|
|
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TOTAL |
4390.004 |
1367.903 |
780.658 |
|
|
|
|
|
|
|
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APPLICATION OF FUNDS |
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|
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|
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FIXED ASSETS [Net Block] |
258.446 |
238.730 |
240.787 |
|
|
Capital work-in-progress |
103.794 |
2.049 |
2.049 |
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|
|
|
|
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INVESTMENT |
90.627 |
84.600 |
69.484 |
|
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
247.974
|
355.526
|
167.838
|
|
|
Sundry Debtors |
4354.717
|
1735.833
|
795.757
|
|
|
Cash & Bank Balances |
8926.579
|
1882.333
|
205.280
|
|
|
Other Current Assets |
257.488
|
74.130
|
5.214
|
|
|
Loans & Advances |
510.268
|
387.842
|
207.026
|
|
Total
Current Assets |
14297.026
|
4435.664
|
1381.115 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
9782.516
|
3263.270
|
611.626
|
|
|
Other Current Liabilities |
496.236
|
74.733
|
263.602
|
|
|
Provisions |
81.137
|
55.137
|
37.549
|
|
Total
Current Liabilities |
10359.889
|
3393.140
|
912.777 |
|
|
Net Current Assets |
3937.137
|
1042.524
|
468.338
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
4390.004 |
1367.903 |
780.658 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
16671.050 |
13839.377 |
17994.063 |
|
|
|
Other Income |
NA |
NA |
108.300 |
|
|
|
TOTAL (A) |
NA |
NA |
18102.363 |
|
|
|
|
|
|
|
|
Less |
|
|
|
|
|
|
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|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
NA |
NA |
17952.007 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
NA |
NA |
17952.007 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
209.775 |
124.171 |
150.356 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
114.680 |
52.781 |
67.519 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
95.095 |
71.390 |
82.837 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
23.237 |
18.276 |
25.328 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
71.858 |
53.114 |
57.509 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
23.401 |
25.081 |
21.257 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
48.457 |
28.033 |
36.252 |
|
|
|
|
|
|
|
|
|
Add/ less |
INCOME TAX IN
RESPECT OF EARIER YEAR |
1.166 |
0.782 |
0.336 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
243.322 |
216.071 |
180.155 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED TO
THE B/S |
292.945 |
243.322 |
216.071 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
5413.628 |
10261.744 |
17731.330 |
|
|
TOTAL EARNINGS |
5413.628 |
10261.744 |
17731.330 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
54.241 |
47.921 |
12.163 |
|
|
|
Stores & Spares |
0.909 |
0.395 |
0.165 |
|
|
|
Capital Goods |
15.769 |
4.097 |
4.066 |
|
|
|
Others |
11411.050 |
3439.656 |
17481.921 |
|
|
TOTAL IMPORTS |
11481.969 |
3492.069 |
17498.315 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
-- |
18.09 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
NA
|
NA
|
0.20
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.43
|
0.38
|
0.32
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.49
|
1.14
|
3.55
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.13
|
0.15
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
30.37
|
10.23
|
3.22
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.38
|
1.31
|
1.51
|
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS:
The performance of the Company, during the
year has shown remarkable improvement with the Turnover rising from Rs.
13839.377 millions in the preceding year to Rs. 16671.050 millions in the
current year. The Net Profit was Rs. 48.457 millions in the current year as
against Rs. 28.033 millions in the preceding year. The Directors are taking
every possible steps to improve upon the performance of the Company which are
expected to yield positive results in times ahead.
FORM 8
|
Corporate
identity number of the company |
U51396UP1992PTC014605 |
|
Name of the
company |
ROTOMAC GLOBAL
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
201 City Centre,
63/2, The Mall, Kanpur-208004, |
|
This form is for |
Modification of
charge |
|
Type of charge |
Others |
|
Particular of
charge holder |
· Allahabad Bank Main Branch Civil Lines, Kanpur-208001, |
|
Nature of
instrument creating charge |
GLH dated
18.10.2010 Bank’s Sanction
Letter dated 12.12.2010 LC (I/F) LIMIT
for Rs. 1500.000 millions. |
|
Date of
instrument Creating the charge |
18.10.2010 |
|
Amount secured by
the charge |
Rs.1500.000 millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest As Per Bank Rate Terms of repayment On Demand Margin 25% (Bank’s
TDR’S) Extent and operation of the charge Hypothecation of goods
produced under LC, receivable and all other current assets of the company
both present and future ranking pari pasu with other multiple bankers. |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation of goods
produced under LC, receivable and all other current assets of the company
both present and future ranking pari pasu with other multiple bankers. |
FIXED ASSETS:
·
·
Free
·
Land Uttaranchal
·
·
·
Plant and Machinery
·
Machinery
·
Generators
·
Factory / Office
Equipment
·
Electric Installation
·
Computers
·
Air Conditions
·
Crane
·
Cooling Plant
·
Weighing Scale
·
Typewriter
·
Moulds
·
Vehicles
·
Motor cars
·
Motor Cycles/ Scooters
·
Motor Lorry/ Delivery Van
·
Cycles
·
Wooden Structure
·
Furniture and Fixture
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.44.92 |
|
|
1 |
Rs.71.14 |
|
Euro |
1 |
Rs.61.00 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
49 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.