MIRA
INFORM REPORT
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Report Date : |
25.03.2011 |
IDENTIFICATION DETAILS
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Name : |
RAJVI PLASTO TECH PRIVATE LIMITED |
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Registered Office : |
RooM No. 22, Shivraj Bhavan No. 1, 1st Floor, B M Marg,
Elphinstone (West), Mumbai – 400013, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
02.01.2009 |
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Com. Reg. No.: |
11-189291 |
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CIN No.: [Company
Identification No.] |
U25200MH2009PTC189291 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMR25925E |
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PAN No.: [Permanent
Account No.] |
AAECR2175C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Agricultural Shades Net |
RATING & COMMENTS
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MIRA’s Rating : |
B (26) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 2000 |
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Status : |
New Company |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively new company and yet to establish itself
gradually. Trade relations are fair. Business is active. Payments are
reported to be slow. The company can be considered for business 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
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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. Sandeep |
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Designation : |
General Manager |
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Contact No.: |
91-9998014455 |
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Date : |
23.03.2011 |
LOCATIONS
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Registered Office : |
RooM No. 22, Shivraj Bhavan No. 1, 1st Floor, B M Marg, Elphinstone
(West), Mumbai – 400013, |
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E-Mail : |
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Area : |
700 sq.ft |
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Location : |
Rented |
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Factory : |
Plot No. 4305, 4th Phase, GIDC Vapi 396195, |
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Tel. No.: |
91-260-2425449 / 6534432 |
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Fax No.: |
91-260-2425450 |
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Area : |
15000 sq.ft |
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Location : |
Rented |
DIRECTORS
As On 30.09.2010
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Name : |
Mr. Suresh Shivdas Velayudhan |
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Designation : |
Director |
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Address : |
Mahavir Nagar,
Mahavir Jyot Apt., R.M.No.303, Vapi 0 396195, |
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Date of Birth/Age : |
15.02.1970 |
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Date of Appointment : |
02.01.2009 |
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DIN No. : |
01363652 |
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Name : |
Mr. Sandeep Narayan Thoruthy |
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Designation : |
Director |
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Address : |
Flat No-403, Raj Mandir HS, |
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Date of Birth/Age : |
30.09.1976 |
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Date of Appointment : |
03.09.2010 |
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DIN No. : |
01125142 |
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Name : |
Mr. Burhan Suleman Tailor |
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Designation : |
Director |
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Address : |
A/3 Sama APT, Mushtaq Nagar,, |
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Date of Birth/Age : |
20.09.1982 |
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Date of Appointment : |
30.09.2010 |
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DIN No. : |
03100730 |
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Name : |
Mr. Ramsingh Devisingh Chauhan |
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Designation : |
Director |
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Address : |
Plot-14/3 , Flat
-D-102 Hitarth CHS, GIDC, Vapi 0 396195, |
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Date of Birth/Age : |
01.07.1958 |
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Date of Appointment : |
02.01.2009 |
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Date of Cessation : |
26.07.2010 |
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DIN No. : |
02256078 |
KEY EXECUTIVES
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Name : |
Mr. Sandeep |
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Designation : |
General Manager |
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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Velayudhan Shivdas Suresh |
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42500 |
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Velayudhan Suresh Diana |
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5000 |
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Total |
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47500 |
As On 30.09.2010
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Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Agricultural Shades Net |
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Products : |
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Terms : |
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Selling : |
Cash, Credit |
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Purchasing : |
Cash, Credit |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
55 (8 – In Office + 47 – In Factory) |
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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 : |
Sanjay Rane and Associates Chartered Accountant |
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Address : |
23, Chanchal Smruti, 2nd Floor, 25, G.D, |
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Tel. No.: |
91-22-43600200 |
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Telefax No.: |
91-22-43600205 |
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E-mail : |
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Website : |
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Pan No. : |
AAUFS1683H |
CAPITAL STRUCTURE
As On 31.03.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.500 million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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47500 |
Equity Shares |
Rs. 10/- each |
Rs. 0.475
million |
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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 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.475 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.246 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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0.721 |
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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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6.230 |
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TOTAL BORROWING |
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6.230 |
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DEFERRED TAX LIABILITIES |
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0.091 |
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TOTAL |
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7.042 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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5.852 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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9.176 |
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Sundry Debtors |
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0.307 |
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Cash & Bank Balances |
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0.600 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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0.291 |
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Total
Current Assets |
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10.374 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
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8.427 |
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Other Current Liabilities |
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0.770 |
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Provisions |
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0.014 |
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Total
Current Liabilities |
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9.211 |
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Net Current Assets |
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1.163 |
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MISCELLANEOUS EXPENSES |
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0.027 |
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TOTAL |
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7.042 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2010 |
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SALES |
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Income |
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14.669 |
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Other Income |
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0.018 |
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TOTAL (A) |
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14.717 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL (B) |
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13.914 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
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0.803 |
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Less |
FINANCIAL
EXPENSES (D) |
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0.015 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
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0.788 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
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0.386 |
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PROFIT BEFORE
TAX (E-F) (G) |
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0.402 |
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Less |
TAX (I) |
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0.156 |
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PROFIT AFTER TAX
(G-I) (J) |
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0.246 |
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BALANCE CARRIED
TO THE B/S |
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0.246 |
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Earnings Per
Share (Rs.) |
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8.45 |
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KEY RATIOS
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PARTICULARS |
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31.03.2010 |
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PAT / Total Income |
(%) |
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1.67 |
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Net Profit Margin (PBT/Sales) |
(%) |
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2.74 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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2.48 |
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Return on Investment (ROI) (PBT/Networth) |
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0.56 |
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Debt Equity Ratio (Total Liability/Networth) |
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21.42 |
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Current Ratio (Current Asset/Current Liability) |
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1.23 |
Expected Sales (2010-11) : Rs. 80.000 millions
LOCAL AGENCY FURTHER INFORMATION
The Registered Office of the company has been shifted from Room No. 32,
Shivraj Bhavan No. 1, 1st Floor, B M Marg, Elphinstone (West),
Mumbai – 400013,
Trade reference:
- Kuamr
Distributor
Performance Review:
The sales turnover of the company during the
year under audit is Rs. 14.669 millions. The company has achieved a significant
sales turnover of Agro Shed Net in the first year of operations. The company
has commence its commercial production of the Agro shed Net at the beginning of
2nd Quarter.
Form 8:
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Corporate
identity number of the company |
U25200MH2009PTC189291 |
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Name of the
company |
RAJVI PLASTO TECH PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
RooM No. 22, Shivraj Bhavan No. 1, 1st Floor, B M Marg,
Elphinstone (West), Mumbai – 400013, |
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This form is for |
Creation of
charge |
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Type of charge |
Book Debts Stock |
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Particular of
charge holder |
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Nature of
instrument creating charge |
Letter of
hypothecation |
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Date of
instrument Creating the charge |
01.11.2010 |
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Amount secured by
the charge |
Rs. 9.500
millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest
– BR+2.25% presently 10.75% floating Terms of
Repayment – cash credit – on demand Margin – 25% on
stock 50% on book debts
Extent and
Operation of the charge – The loan is sanctioned under CGTSME Scheme. |
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Particulars of
the property charged |
Stock of raw
materials, work in progress and finished goods Book debts of the
company |
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.44.77 |
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|
1 |
Rs.72.66 |
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Euro |
1 |
Rs.63.06 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
2 |
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--CREDIT LINES |
1~10 |
2 |
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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 |
|
26 |
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.