MIRA
INFORM REPORT
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Report Date : |
31.01.2011 |
IDENTIFICATION DETAILS
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Name : |
RUDRA CASTINGS PRIVATE LIMITED |
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Registered
Office : |
Village Badinpur, P O- Khanpur, Mandi Gobindgarh-147 301, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
28.02.2008 |
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Com. Reg. No.: |
16-31712 |
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CIN No.: [Company Identification
No.] |
U27310PB2008PTC031712 |
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Legal Form : |
Private limited liability company |
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Line of Business
: |
Manufacturer, Trader and Exporter of Stainless Steel Casting,
Investment Castings. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca (12) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Status : |
Recently commenced business |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Though the company was incorporated in Feb2008, the company has started
its business from August 2010. Business is active. Payment terms are not
known. The company can be considered for business dealings on a secured 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
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
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Name : |
Mr. Nitin Vij |
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Designation : |
Director |
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Contact No.: |
91-9915100019 |
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Date : |
24.01.2011 |
LOCATIONS
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Registered Office : |
Village Badinpur, P O- Khanpur, Mandi Gobindgarh-147 301, |
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Tel. No.: |
91-1765-242019 |
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Fax No.: |
91-1765-250019 |
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E-Mail : |
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Location : |
Owned |
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Factory : |
Peer |
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Area : |
1 acre |
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Location : |
Owned |
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Postal Address: |
House No.20, GTB Nagar, Near PWB Rest House, |
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Area : |
400 sq. ft. |
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Location : |
Owned |
DIRECTORS
As on 30.09.2010
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Name : |
Mr. Nitin Braham Vij |
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Designation : |
Director |
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Address : |
House No 20, G T B Nagar, Near Pwd Rest House Khanna, |
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Date of Birth/Age : |
30.04.1983 |
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Qualification : |
B. Tech |
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Date of Appointment : |
28.02.2008 |
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Name : |
Mr. Braham Kumar Vij |
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Designation : |
Director |
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Address : |
House No 20, G T B Nagar, Near Pwd Rest House Khanna, |
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Date of Birth/Age : |
09.09.1958 |
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Qualification : |
B. com |
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Date of Appointment : |
28.02.2008 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
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Names of Shareholders |
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No. of Shares |
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Nitin Braham Vij |
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5000 |
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Braham Kumar Vij |
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5000 |
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Total |
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10000 |
As on 30.09.2010
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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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, Trader and Exporter of Stainless Steel Casting,
Investment Castings. |
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Products : |
·
Investment Casting ·
Precision Investment Casting ·
Alloy Metal Precision Casting ·
Stainless Steel Casting ·
Automobile Investment Casting ·
Marine Engineering Investment Casting |
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Exports : |
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Products : |
Stainless Steel Casting |
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Countries : |
·
·
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Customers : |
OEM’s |
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No. of Employees : |
25 (Office-6, Factory-15) Approximately |
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Bankers : |
Punjab National Bank, G. T. Road Branch, Khanna-141 401, |
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Facilities : |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
Rajinder Pal Goel and Associates Chartered Accountants |
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Address : |
Opposite Punjab and Sind Bank, |
CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
300000 |
Equity Shares |
Rs.10/- Each |
Rs.3.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- Each |
Rs.0.100
million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
0.100 |
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2] Share Application Money |
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2.871 |
0.675 |
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3] Reserves & Surplus |
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0.000 |
0.000 |
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4] (Accumulated Losses) |
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(0.372) |
(0.016) |
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NETWORTH |
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2.599 |
0.759 |
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LOAN FUNDS |
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1] Secured Loans |
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3.434 |
0.000 |
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2] Unsecured Loans |
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0.720 |
0.000 |
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TOTAL BORROWING |
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4.154 |
0.000 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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6.753 |
0.759 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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6.395 |
0.640 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
0.000 |
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Sundry Debtors |
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0.000 |
0.000 |
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Cash & Bank Balances |
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0.239 |
0.119 |
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Other Current Assets |
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0.324 |
0.000 |
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Loans & Advances |
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0.380 |
0.000 |
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Total
Current Assets |
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0.943 |
0.119 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
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0.00 |
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Other Current Liabilities |
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0.585 |
0.000 |
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Provisions |
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0.000 |
0.000 |
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Total
Current Liabilities |
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0.585 |
0.000 |
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Net Current Assets |
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0.358 |
0.119 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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6.753 |
0.759 |
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Expected Sales (2010-2011) : Rs.10.000 millions
KEY RATIOS
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PARTICULARS |
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31.03.2010 |
31.03.2009 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.82 |
0.00 |
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Current Ratio (Current Asset/Current Liability) |
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1.61 |
0.00 |
LOCAL AGENCY FURTHER INFORMATION
Financial
Achievement:
The Installation of plant and Machinery is
under progress. The Electric load has been sanctioned from PSEB company is hopeful
to come into commercial production in the 2nd half of Financial
2010-2011
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U27310PB2008PTC031712 |
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Name of the
company |
RUDRA CASTINGS
PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
Village Badinpur, P O- Khanpur, Mandi Gobindgarh-147 301, |
|
This form is for |
Creation of
charge |
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Type of charge |
Book Debts Immovable Property
Others Stocks of scraps
and other items acceptable to bank |
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Particular of
charge holder |
Punjab National Bank, G. T. Road Branch, Khanna-141 401, |
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Nature of
description of the instrument creating or modifying the charge |
Agreement for
term loan of Rs, 5.000 million and CC of Rs.3.000 millions. Total Rs.8.000 millions |
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Date of
instrument Creating the charge |
29.07.2009 |
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Amount secured by
the charge |
Rs.8.000 millions
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest For term loan
-11.50 % on daily balance due to bank For CC.(hyp) -
11.00 % on daily balance due to the bank Terms of
Repayment As per agreement Margin 25% Extent and
Operation of the charge As per agreement |
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Short particulars
of the property charged |
Factory land and
building to be constructed (presently a plot of 6 canals) situated at village
Badin pur teh. Amloh distt. Fatehgarh sahib regd. Vide sale deed no. 2270
dated 03.03.2008 by s. Regr. Amloh |
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.45.74 |
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|
1 |
Rs.72.73 |
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Euro |
1 |
Rs.62.73 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
2 |
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PAID-UP CAPITAL |
1~10 |
2 |
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OPERATING SCALE |
1~10 |
2 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
2 |
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--PROFITABILIRY |
1~10 |
- |
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--LIQUIDITY |
1~10 |
2 |
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--LEVERAGE |
1~10 |
2 |
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--RESERVES |
1~10 |
2 |
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--CREDIT LINES |
1~10 |
- |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
12 |
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 |
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|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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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 |
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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.