1. Summary Information
|
|
|
Country |
|
|
Company Name |
RUCHA
TECHNOLOGIES PRIVATE LIMITED |
Principal Name 1 |
Mr. Umesh Martandrao Dashrathi |
|
Status |
Moderate |
Principal Name 2 |
Ms. Jyoti Umesh Dashrathi |
|
|
|
Registration # |
128583 |
|
Street Address |
102, Om Residency, 350/7, Opposite Firodia Hostel, Shivaji Nagar, Pune
- 411004, |
||
|
Established Date |
12.06.2006 |
SIC Code |
-- |
|
Telephone# |
-- |
Business Style 1 |
Manufacturer |
|
Fax # |
-- |
Business Style 2 |
-- |
|
Homepage |
-- |
Product Name 1 |
Automotive Components |
|
# of employees |
-- |
Product Name 2 |
-- |
|
Paid up capital |
Rs.
25,795,000/- |
Product Name 3 |
-- |
|
Shareholders |
Directors or relatives of directors 100.00% |
Banking |
State bank of |
|
Public Limited Corp. |
No |
Business Period |
4 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
B
(27) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Associates
|
-- |
Rucha Engineers Private Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2009 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
18,559,000 |
Current Liabilities |
25,407,000 |
|
Inventories |
10,436,000 |
Long-term Liabilities |
60,047,000 |
|
Fixed Assets |
59,198,000 |
Other Liabilities |
2,423,000 |
|
Deferred Assets |
000 |
Total Liabilities |
87,877,000 |
|
Invest& other Assets |
1,710,000 |
Retained Earnings |
000 |
|
|
|
Net Worth |
2,026,000 |
|
Total Assets |
89,903,000 |
Total Liab. & Equity |
89,903,000 |
|
Total Assets (Previous Year) |
76,981,000 |
|
|
|
P/L Statement as of |
31.03.2009 |
(Unit: Indian Rs.) |
|
|
Sales |
58,041,000 |
Net Profit |
(16,628,000) |
|
Sales(Previous yr) |
50,216,000 |
Net Profit(Prev.yr) |
(3,177,000) |
MIRA
INFORM REPORT
|
Report Date : |
28.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
RUCHA TECHNOLOGIES PRIVATE LIMITED |
|
|
|
|
Registered Office : |
102, Om Residency, 350/7, Opposite Firodia Hostel, Shivaji Nagar, Pune
- 411004, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2009 |
|
|
|
|
Date of Incorporation : |
12.06.2006 |
|
|
|
|
Com. Reg. No.: |
128583 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U29299PN2006PTC128583 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
PNER08603A |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AADCR3216K |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer of Automotive Components. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 8104 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track records.
Prodigality of the company appears to be under severe pressure. There appears
to be huge accumulated losses recoded by the company. However trade relations
are reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with 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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION DECLINED BY
|
Name : |
Mr. Deshbandu |
|
Designation : |
Accounts Department |
LOCATIONS
|
Registered Office : |
102, Om Residency, 350/7, Opposite Firodia Hostel, Shivaji Nagar, Pune
- 411004, |
|
E-Mail : |
|
|
|
|
|
Factory : |
L – 23 A, MIDC, Waluj, Aurangabad-431136, |
|
Tel No.: |
91-240-2553118 |
DIRECTORS
As On 30.09.2009
|
Name : |
Mr. Umesh Martandrao Dashrathi |
|
Designation : |
Director |
|
Address : |
140, jyoti Nagar, |
|
Date of Birth/Age : |
01.06.1964 |
|
Date of Appointment : |
12.06.2006 |
|
|
|
|
Name : |
Ms. Jyoti Umesh Dashrathi |
|
Designation : |
Director |
|
Address : |
140, jyoti Nagar, |
|
Date of Birth/Age : |
18.03.1965 |
|
Date of Appointment : |
12.03.2006 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 30.09.2009
|
Names of Shareholders |
|
No. of Shares |
|
Umesh Martandrao Dashrathi |
|
1855000 |
|
Jyoti Umesh Dashrathi |
|
655000 |
|
Total |
|
2510000 |
As On 30.09.2009
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Automotive Components. |
||||
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|
||||
|
Products : |
|
GENERAL INFORMATION
|
Bankers : |
State bank of |
||||||||||
|
|
|
||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Associates : |
|
CAPITAL STRUCTURE
As on 31.03.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2510000 |
Equity Shares |
Rs.10/- each |
Rs.25.100 Millions |
|
|
Share Application Money (Pending Allotment) |
|
Rs.0.695
Millions |
|
|
Total |
|
Rs.25.795 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
25.795 |
25.795 |
21.988 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(23.769) |
(7.234) |
(4.055) |
|
|
NETWORTH |
2.026 |
18.561 |
17.933 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
60.047 |
45.671 |
13.618 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
60.047 |
45.671 |
13.618 |
|
|
DEFERRED TAX LIABILITIES |
0.458 |
2.414 |
0.777 |
|
|
|
|
|
|
|
|
TOTAL |
62.531 |
66.646 |
32.328 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
59.198 |
50.940 |
39.800 |
|
|
Capital work-in-progress |
1.631 |
0.000 |
0.385 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
10.436
|
7.453 |
3.228 |
|
|
Sundry Debtors |
0.000
|
0.000 |
0.000 |
|
|
Current Assets |
12.206
|
10.710 |
(1.623) |
|
|
Other Current Assets |
0.154
|
0.108 |
1.515 |
|
|
Loans & Advances |
6.199
|
7.652 |
5.406 |
|
Total
Current Assets |
28.995
|
25.923 |
8.526 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
25.407
|
8.284 |
15.634 |
|
|
Provisions |
1.965
|
2.051 |
0.907 |
|
Total
Current Liabilities |
27.372
|
10.335 |
16.541 |
|
|
Net Current Assets |
1.623
|
15.588 |
(8.015) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.079 |
0.118 |
0.158 |
|
|
|
|
|
|
|
|
TOTAL |
62.531 |
66.646 |
32.328 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
Total Income |
58.041 |
50.216 |
2.639 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
(18.556) |
(1.516) |
3.271 |
|
|
Provision for Taxation |
1.928 |
1.661 |
0.784 |
|
|
Profit/(Loss) After Tax |
(16.628) |
(3.177) |
(4.055) |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Depreciation & Amortization |
11.009 |
8.823 |
1.414 |
|
|
|
|
|
|
|
Earnings Per Share (Rs.) |
-- |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
PAT / Total Income |
(%) |
(28.64)
|
(6.32) |
(153.65) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(21.04)
|
(24.15) |
6.76 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(9.15)
|
(0.08) |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
43.14
|
3.01 |
1.68 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.05
|
2.50 |
0.51 |
LOCAL AGENCY FURTHER INFORMATION
Form 8:
|
This form is for |
Creation of
charge |
|
Corporate identity
number of the company |
U29299PN2006PTC128583 |
|
Name of the
company |
RUCHA
TECHNOLOGIES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
102, Om Residency,
350/7, Opp. Firodia Hostel, Shivajinagar, Pune - 411004, |
|
Type of charge |
Book Debts Movable Property Immovable
Property |
|
Particular of
charge holder |
STATE BANK OF |
|
Nature of description
of the instrument creating or modifying the charge |
1. Agreement Of
Loan-Cum-Hypothecation 2. Letter Of
Arrangement 3.Letter Of
Confirmation For Creation Of Mortgage By Deposit Of Title Deeds |
|
Date of
instrument Creating the charge |
30/03/2007 |
|
Amount secured by
the charge |
Rs.114.700
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 1.50% below State
Bank Advance Rate (SBAR=12.25% w.e.f. 20.02.2007), with minimum of 10.75%
p.a. rising or falling therewith, on daily products with monthly rests.
Present effective rate = 10.75% p.a. Terms of
Repayment CC= Repayable on
Demand Term Loan = Repayment 72 Monthly installments 12 installments of Rs.0.900 Million each
+ applicable interest 12 installments of Rs.1.300 Million each +
applicable interest 47 installments
of Rs.1.500 Million each + applicable interest 1
Installment of Rs.0.600 Million
+ applicable interest Margin Raw Material =
25% Semi Finished
Goods = 30.00% Finished Goods =
30% Consumables /
spares = 30.00% Receivables 90
days = 30.00% Term Loan =
25.00% Extent and
Operation of the charge Exclusive Charge
on the above mentioned Fixed / current assets of the Company Others 1. Personal
guarantee of all the Directors: Mr. Umesh M. Dashrathi & Mrs. Jyoti U.
Dashrathi |
|
Short particulars
of the property charged |
1. Primary
security of Hypothecation of Stocks & Book Debts 2. Hypothecation
of Plant & Machinery, EM/RM of building and other immovable assets
situated at Plot No. L-23 A, MIDC Waluj, 3. Collateral
Security of |
Fixed Assets:
- Land
- Plant and
Machinery
- Dies and
Fixture
- Office
Equipments
- Computer
- Tools and
Tackies
- Electrical
Installation
- Factory
Equipments
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] 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.44.65 |
|
|
1 |
Rs.71.91 |
|
Euro |
1 |
Rs.63.28 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
27 |
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.