MIRA
INFORM REPORT
|
Report Date : |
16.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
ROXUL ROCKWOOL INSULATION INDIA PRIVATE LIMITED |
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Registered
Office : |
Plot no. Z/4, Dahej SEZ, Dahej Bharuch – 392130, Gujarat |
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Country : |
India |
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Financials (as
on) : |
31.12.2009 |
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Date of
Incorporation : |
02.09.2008 |
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Com. Reg. No.: |
04-054942 |
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Capital
Investment / Paid-up Capital : |
Rs.22.575 Millions (as on 31.12.2009) |
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CIN No.: [Company Identification
No.] |
U26957G2008PTC054942 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Supplier of Insulation residential, Roxul comfort
Batt thermal insulation, Roxul Safe ’n’ Sound fire and sound insulation,
commercial, Roxul plus metal. |
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No. of Employees
: |
Not Divulged by the Management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (14) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
Yet to commenced business |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
As per available last financial the company is yet to commenced its
commercial operation. Payments are unknown. 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.
INFORMATION DECLINED BY
|
Name : |
Mrs. Khyati Shukla |
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Designation : |
Accounts Department |
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Contact No.: |
91-2641-619400 |
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Date : |
12.07.2011 |
LOCATIONS
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Registered Office / factory: |
Plot no. Z/4, Dahej SEZ, Dahej Bharuch – 392130, Gujarat, India |
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Tel. No.: |
91-2642-226928 |
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Fax No.: |
91-2642-229981 |
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E-Mail : |
DIRECTORS
AS ON 30.06.2010
|
Name : |
Mr. Per Palludan |
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Designation : |
Director |
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Address : |
Svendborgvej 12, Himmelev, Roskilde, 4000, Denmark, India |
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Date of Birth/Age : |
20.05.1962 |
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Date of Appointment : |
02.09.2008 |
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DIN No.: |
02250874 |
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Name : |
Mr. Rajendra Krishna Khosla |
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Designation : |
Director |
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Address : |
39/68-72, Sukhumvit Road, Nern Phra Sub District, Muang District,
Rayong – 21000, Thiland |
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Date of Birth/Age : |
30.03.1950 |
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Date of Appointment : |
02.09.2008 |
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DIN No.: |
00811137 |
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|
Name : |
Mr. Volker Christmann |
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Designation : |
Director |
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Address : |
Braustrasse 156, Kamp Lintfort – 47475, Germany, India |
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Date of Birth/Age : |
30.11.1957 |
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Date of Appointment : |
22.06.2009 |
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DIN No.: |
02582758 |
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Name : |
Mr. Bratosz Stentoft |
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Designation : |
Alternate Director |
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Address : |
Arnaw Bungalows A-2/17, Zadeshwar Road, Bharuch – 392011, Gujarat,
India |
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Date of Birth/Age : |
05.11.1967 |
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Date of Appointment : |
13.01.2010 |
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Name : |
Mr. Amardeep Kainth |
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Designation : |
Director |
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Address : |
#10, 1st Cross Judicial Officers Layout, RMV, 2nd
Stage, Extension, Sanjay Nagar, Bangalore – 560094, Karnataka, India |
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Date of Birth/Age : |
07.11.1959 |
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Date of Appointment : |
02.09.2008 |
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Date of Ceasing : |
04.09.2008 |
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DIN No.: |
02935374 |
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Name : |
Mr. Satish Srinivasan |
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Designation : |
Director |
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Address : |
FF4, Sneha Sukhvas No.61, Dr. Ambedkar Medical College Road, MM Layout,
Kavalbyrasandra, R.T. Nagar, Bangalore – 560032, Karnataka, India |
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Date of Birth/Age : |
22.04.1975 |
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Date of Appointment : |
02.09.2008 |
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Date of Ceasing : |
04.09.2008 |
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DIN No.: |
00281642 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.06.2010
|
Names of Shareholders |
|
No. of Shares |
|
Rockwool International A/S, Denmark |
|
144750000 |
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Kaefer Punj Lloyd Limited, Delhi |
|
48250000 |
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Total |
|
193000000 |
AS ON 30.06.2010
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
75.00 |
|
Bodies corporate |
25.00 |
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|
|
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supplier of Insulation residential, Roxul comfort
Batt thermal insulation, Roxul Safe ’n’ Sound fire and sound insulation, commercial,
Roxul plus metal. |
GENERAL INFORMATION
|
No. of Employees
: |
Not Divulged by the Management |
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Bankers : |
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Facilities : |
--- |
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Banking
Relations : |
--- |
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Auditors : |
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Name : |
S. R. Batliboi and Company Chartered Accountant |
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Address : |
Jalan Mill Compound, 95, Ganpatrao Kadam Marg, Lower Parel, Mumbai –
400013, Maharashtra, India |
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Tel. No.: |
91-22-40356300 |
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Fax No.: |
91-22-40356400 |
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Holding Company : |
Rockwool International AS |
CAPITAL STRUCTURE
AS ON 31.12.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
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|
|
|
|
30000000 |
Equity Shares |
Rs.10/- each |
Rs.300.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2257500 |
Equity Shares |
Rs.10/- each |
Rs.22.575
Millions |
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|
Note : of the above 1693125 Equity shares of Rs. 10 each
fully paid up are held by the Holding Company – Rockwool International A/s,
Denmark.
AS ON 13.01.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
Rs.10/- each |
Rs.300.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4832500 |
Equity Shares |
Rs.10/- +
Rs. 30 Premium |
Rs.193.000
Millions |
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Note : Out of the total issued capital 10,000 equity shares
of Rs. 10/- each issued at Par value, balance shares issued at Rs. 40/- at
nominee value Rs. 10/- each at a premium of Rs. 30/- per shares.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.12.2009 |
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|
SHAREHOLDERS FUNDS |
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|
|
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1] Share Capital |
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|
22.575 |
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2] Share Application Money |
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|
103.000 |
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3] Reserves & Surplus |
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|
67.425 |
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4] (Accumulated Losses) |
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|
(10.106) |
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NETWORTH |
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|
182.894 |
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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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|
0.000 |
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TOTAL BORROWING |
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|
0.000 |
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DEFERRED TAX LIABILITIES |
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|
0.000 |
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TOTAL |
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|
182.894 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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81.137 |
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Capital work-in-progress |
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|
5.395 |
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INVESTMENT |
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|
0.000 |
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DEFERREX TAX ASSETS |
|
|
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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|
0.000 |
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Sundry Debtors |
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|
0.000 |
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Cash & Bank Balances |
|
|
79.644 |
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Other Current Assets |
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|
0.000 |
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Loans & Advances |
|
|
0.619 |
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Total
Current Assets |
|
|
80.263 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
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|
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Sundry Creditors |
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|
10.982 |
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Other Current Liabilities |
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|
1.441 |
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Provisions |
|
|
0.269 |
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Total
Current Liabilities |
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|
12.692 |
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Net Current Assets |
|
|
67.571 |
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MISCELLANEOUS EXPENSES |
|
|
0.000 |
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EXPENDITURE DUSING CONSTRUCTION PERIOD |
|
|
28.791 |
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TOTAL |
|
|
182.891 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.12.2009 |
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SALES AND OTHER
INCOME |
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NIL |
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Less |
EXPENSES |
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|
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Operating And Other Expenses |
|
|
9.994 |
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TOTAL |
|
|
9.994 |
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PROFIT BEFORE
TAX |
|
|
(9.994) |
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Less |
TAX |
|
|
0.112 |
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PROFIT AFTER TAX
|
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(10.106) |
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Earnings Per
Share (Rs.) |
|
|
-- |
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KEY RATIOS
|
PARTICULARS |
|
|
|
31.12.2009 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
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(6.19) |
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Return on Investment (ROI) (PBT/Networth) |
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(0.05) |
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Debt Equity Ratio (Total Liability/Networth) |
|
|
|
0.06 |
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Current Ratio (Current Asset/Current Liability) |
|
|
|
6.32 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS :
(Rs
In Millions)
|
Particulars |
31.12.2009 |
|
|
|
|
Total Outstanding dues of Micro and Small Enterprises |
0.000 |
|
Total outstanding dues of creditors other than micro and small
enterprises |
10.982 |
|
|
|
|
Total |
10.982 |
NOTE :
The registered office address of the company is shifted from 5, Malhar
House, Behind Rathnam, Off C.G. Road, Ahmadabad, Gujarat, India to present
address w.e.f. 13.01.2010.
The registered office address of the company is shifted from Pritam
Residency, Flat G-2, Behind Mktampur, Rural Police Station, Makampur Road,
Bharuch – 392002, Gujarat, India to present address w.e.f. 01.09.2010.
OPERATIONS :
The Company has
been able get necessary approvals for setting up manufacturing facilities at
Dahej Special Economic Zone, Gujarat. During the year, the Company has leased
94,162.80 sq. mts of land at Dahej from Dahej SEZ Limited.
FUTURE PROSPECTUS
:
The Directors are
hopeful that the Company's commercial operations will get commence at by the
end of next financial year. The Company will reflect the expected results in
the coming year.
FIXED ASSETS :
·
Freehold Land
·
Furniture, Fixtures and Fittings
·
Computer Hardware
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. 44.58 |
|
|
1 |
Rs. 71.07 |
|
Euro |
1 |
Rs. 62.39 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
|
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
-- |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
No |
|
--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 |
|
14 |
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.