MIRA
INFORM REPORT
|
Report Date : |
17.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
RAJKAMAL NAMKEENS PRIVATE LIMITED |
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Registered
Office : |
24, Damji Shamji Industrial Estate, LBS Marg, Vikroli (West), Mumbai –
400083, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
15.04.1997 |
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Com. Reg. No.: |
11-107292 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.327 million |
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CIN No.: [Company Identification
No.] |
U15200MH1997PTC107292 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR09002A |
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PAN No.: [Permanent Account No.] |
AAACR5421M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Supplier of all kinds on namkeens, farsans and
sweets. |
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No. of Employees
: |
25 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 6000 |
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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. Profitability
of the company appears to be low. However, trade relations are reported as fair.
Business is active. Payments are reported to be slow but correct. 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.
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 |
|
Risk Category |
ECGC
Classification |
|
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
|
Name : |
Mr. Gautam Daga |
|
Designation : |
Finance Manager |
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Contact No.: |
91-9323686482 |
|
Date : |
15.06.2011 |
LOCATIONS
|
Registered Office / Factory : |
24, Damji Shamji Industrial Estate, LBS Marg, Vikroli (West), Mumbai –
400083, Maharashtra, India |
|
Tel. No.: |
91-22-25782103 |
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Mobile No.: |
91-9323686482 (Mr. Gautam Daga) |
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Fax No.: |
91-22-25782104 |
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E-Mail : |
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Website : |
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Area : |
4000 sq. ft. |
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Location : |
Owned |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Anil Kumar Bothra |
|
Designation : |
Director |
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Address : |
11, Pushpa Kunj, Vasant Vihar Complex, Chembur, Mumbai-400074,
Maharashtra, India |
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Date of Birth/Age : |
24.11.1967 |
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Date of Appointment : |
27.06.1998 |
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DIN No : |
01018475 |
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Name : |
Ms. Vijaya Devi Kawarlal Daga |
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Designation : |
Director |
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Address : |
C-8, Shantiniketan Co-operative Housing Society, Kopari Colony, Thane
(East), Mumbai-400603, Maharashtra, India |
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Date of Birth/Age : |
04.04.1949 |
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Date of Appointment : |
02.07.1997 |
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DIN No : |
01905662 |
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Name : |
Mr. Suresh Kumar Bothra |
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Designation : |
Director |
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Address : |
11, Pushpa Kunj, Vasant Vihar Complex, Chembur, Mumbai-400074,
Maharashtra, India |
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Date of Birth/Age : |
13.08.1941 |
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Date of Appointment : |
25.01.2007 |
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DIN No : |
01191661 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Suresh Kumar S. Bothra |
|
7510 |
|
Vijaya Devi K Daga |
|
10010 |
|
Rajesh Kumar K. Daga |
|
1500 |
|
Gautam Kumar S. Daga |
|
600 |
|
Pramiladevi R Daga |
|
1500 |
|
Surendra Kumar B Daga |
|
500 |
|
Jyoti S Daga |
|
100 |
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Bhavesh Kumar Daga |
|
100 |
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Mahavir Kumar S Daga |
|
100 |
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Nikita R Daga |
|
100 |
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Bhanwarlal A Daga |
|
1500 |
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Kanwarlal B Daga |
|
1500 |
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Sunilkumar S Bothra HUF |
|
100 |
|
Anil S Bothra |
|
100 |
|
Sumandevi A Bothra |
|
1500 |
|
Pushpadevi S Bothra |
|
1500 |
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Sunil Kumar S Bothra |
|
1500 |
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Anil S Bothra |
|
2000 |
|
Rachnadevi S Bothra |
|
1000 |
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Total |
|
32720 |
AS ON 30.09.2010
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supplier of all kinds on namkeens, farsans and
sweets. |
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Products : |
Namkeens |
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Exports : |
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Products : |
Namkeen Farsan and Sweets |
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Terms : |
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Selling : |
L/C, Cash, Credit |
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Purchasing : |
Cash, Credit |
GENERAL INFORMATION
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Customers : |
·
Wholesalers ·
Retailers ·
End Users |
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No. of Employees : |
25 (Approximately) |
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Bankers : |
·
Union Bank of India, Vikhroli Branch, Mahajan
Mills Compound, L. B. S. Marg, Vikhroli (West), Mumbai-400079, Maharashtra,
India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Bothra and Company Chartered Accountant |
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Address : |
103, Vidya Chambers, 305, Tardeo Raod, Near Nana Chowk, Mumbai-400007,
Maharashtra, India |
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Sister Concern : |
·
Anand and Raj Company |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Shares |
Rs.10/- each |
Rs. 2.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
32720 |
Equity Shares |
Rs.10/- each |
Rs. 0.327
Million |
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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 |
|
|
SHAREHOLDERS FUNDS |
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|
|
|
|
1] Share Capital |
0.327 |
0.327 |
0.327 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
1.371 |
1.091 |
0.896 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1.698 |
1.418 |
1.223 |
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LOAN FUNDS |
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1] Secured Loans |
1.919 |
0.747 |
1.233 |
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2] Unsecured Loans |
0.441 |
0.036 |
0.509 |
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TOTAL BORROWING |
2.360 |
0.783 |
1.742 |
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DEFERRED TAX LIABILITIES |
0.014 |
0.001 |
0.000 |
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TOTAL |
4.072 |
2.202 |
2.965 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.465 |
0.918 |
0.917 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.010 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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|
Inventories |
1.032
|
0.647 |
1.054 |
|
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Sundry Debtors |
2.737
|
1.238 |
1.725 |
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|
Cash & Bank Balances |
0.201
|
0.330 |
0.463 |
|
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Other Current Assets |
0.000
|
0.000 |
0.000 |
|
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Loans & Advances |
1.846
|
1.312 |
1.195 |
|
Total
Current Assets |
5.816
|
3.527 |
4.437 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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|
Sundry Creditors |
3.209
|
2.240 |
2.399 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Provisions |
0.000
|
0.003 |
0.000 |
|
Total
Current Liabilities |
3.209
|
2.243 |
2.399 |
|
|
Net Current Assets |
2.607
|
1.284 |
2.038 |
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
|
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TOTAL |
4.072 |
2.202 |
2.965 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
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|
|
|
|
|
|
Income |
33.622 |
25.798 |
21.082 |
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|
|
Other Income |
1.012 |
0.089 |
0.054 |
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|
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TOTAL (A) |
34.634 |
25.887 |
21.136 |
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|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase |
6.252 |
0.000 |
0.000 |
|
|
|
Increase (Decrease) in Stock |
(0.118) |
0.224 |
(0.154) |
|
|
|
Manufacturing, Administrative, Selling and Distribution Expenses |
27.599 |
24.996 |
20.584 |
|
|
|
TOTAL (B) |
33.733 |
25.220 |
20.430 |
|
|
|
|
|
|
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|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
0.901 |
0.667 |
0.706 |
|
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|
|
|
|
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|
Less |
FINANCIAL
EXPENSES (D) |
0.271 |
0.163 |
0.210 |
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
0.630 |
0.504 |
0.496 |
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|
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.247 |
0.182 |
0.201 |
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PROFIT BEFORE
TAX (E-F) (G) |
0.383 |
0.322 |
0.295 |
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Less |
TAX (I) |
0.121 |
0.127 |
0.010 |
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PROFIT AFTER TAX
(G-I) (J) |
0.262 |
0.195 |
0.285 |
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Add/ less |
PRIOR PERIOD
INCOME |
0.018 |
0.000 |
0.000 |
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1.043 |
0.848 |
0.563 |
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|
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|
BALANCE CARRIED
TO THE B/S |
1.323 |
1.043 |
0.848 |
|
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|
|
|
|
|
Earnings Per
Share (Rs.) |
8.56 |
5.97 |
8.71 |
|
|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover |
|
|
45.000 |
The above information has been parted by Mr. Gautam Daga.
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.76
|
0.75 |
1.35 |
|
|
|
|
|
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|
Net Profit Margin (PBT/Sales) |
(%) |
1.14
|
1.25 |
1.40 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.26
|
7.24 |
5.50 |
|
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|
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|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22
|
0.23 |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.29
|
2.13 |
3.38 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.81
|
1.57 |
1.85 |
LOCAL AGENCY FURTHER INFORMATION
FINANCIAL RESULTS:
Working of the company for the year resulted in a net profit of Rs.
0.383 million after providing Rs. 0.247 million towards depreciation.
After providing income tax of Rs. 0.108 million and Deferred Tax of Rs.
0.013 million. After adding the prior period income of Rs. 0.018 million. The
net surplus of Rs. 0.280 million is being carried forward to next year along
with the brought forward surplus of Rs. 1.043 million.
FORM 8
|
Corporate
identity number of the company |
U15200MH1997PTC107292 |
|
Name of the
company |
RAJKAMAL
NAMKEENS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
24, Damji Shamji Industrial Estate, LBS Marg, Vikroli (West), Mumbai –
400083, Maharashtra, India |
|
This form is for |
Modification of charge |
|
Type of charge |
Book debts Movable property (not being pledge) |
|
Particular of
charge holder |
Union Bank of India, Vikhroli Branch, Mahajan Mills Compound, L. B. S.
Marg, Vikhroli (West), Mumbai-400079, Maharashtra, India |
|
Nature of
instrument creating charge |
Supplementary
Agreement to Hypothecation Agreement of Goods and Debts |
|
Date of
instrument Creating the charge |
23.07.2010 |
|
Amount secured by
the charge |
Rs. 1.800 millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest 11.50%
per annum with monthly rests or such other rate as may be prescribed by the
Bank from time to time depending on the change in PLR of the Bank or
directives of RBI or policy of the Bank Terms of
repayment On Demand Margin As per Sanction terms Extent and
operation of the charge To
secure Revised Cash Credit (Hypothecation) facility of Rs.1.800 millions granted
by the Bank to the Company |
|
Short particulars
of the property charged (Including location of the property) |
That
the Hypothecated Goods, Book-Debts and Movable Property covered by the
Principal Hypothecation Agreement shall continue to be security for the Bank
for the enhanced Cash Credit (Hypothecation) facility of Rs.1.800 millions
granted by the Bank to the Company |
|
Charge
identification number of the charge to be modified |
90150914 |
|
Date of
instrument modifying the charge |
03.12.2009 |
|
Particulars of
the present modification |
Vide
this modification an additional sum of Rs.0.800 million has been granted by
the Bank thereby enhancing the Cash Credit (Hypothecation) facility from
Rs.1.000 million to Rs.1.800 millions and That the Hypothecated Goods,
Book-Debts and Movable Property covered by the Principal Hypothecation
Agreement shall continue to be security for the Bank for the enhanced Cash
Credit (Hypothecation) facility of Rs.1.800 millions granted by the Bank to
the Company |
FIXED ASSETS
·
Computer
·
Furniture and Fixture
·
Mobile
·
Office Equipments
·
Plant and Machinery
·
Motor Cycle
·
Tempo
·
Air Conditioners
TRADE REFERENCE
·
American Dry Fruit
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.44.90 |
|
|
1 |
Rs.72.54 |
|
Euro |
1 |
Rs.63.39 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
28 |
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.