MIRA
INFORM REPORT
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Report Date : |
02.05.2011 |
IDENTIFICATION DETAILS
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Name : |
R P BASMATI RICE LIMITED |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
31.08.2001 |
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Com. Reg. No.: |
05-034739 |
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CIN No.: [Company
Identification No.] |
U15312HR2001PLC034739 |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of rice, spices, pickles, pulses, guar gum
etc. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba ( 45) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 1200000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Payments are reported to be usually correct and
as per commitments. The company can be considered normal for business dealings at usual
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
|
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 : |
Ms. Soniya |
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Designation : |
International Sales Executive |
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Date : |
02.05.2011 |
LOCATIONS
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Registered Office / Head Office : |
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Tel. No.: |
91-184-2220236 / 7/6033661/6034661 |
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Fax No.: |
91-184-2220235 |
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E-Mail : |
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Website : |
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Factory : |
Near to N.H. 1, Karnal, |
DIRECTORS
As On 29.09.2010
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Name : |
Mr. Raj Pal Singhal |
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Designation : |
Director |
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Address : |
361, Dewan Colony, Karnal-132001, |
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Date of Birth/Age : |
64 Years |
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Date of Appointment : |
31.08.2001 |
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DIN No.: |
00737740 |
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Name : |
Mr. Anuj Singhal |
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Designation : |
Director |
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Address : |
361, Dewan Colony, Karnal-132001, |
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Date of Birth/Age : |
39 Years |
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Date of Appointment : |
31.08.2001 |
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DIN No.: |
00737684 |
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Name : |
Mr. Bharat Singhal |
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Designation : |
Director |
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Address : |
361, Dewan Colony, Karnal-132001, |
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Date of Birth/Age : |
38 Years |
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Date of Appointment : |
31.08.2001 |
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DIN No.: |
00737759 |
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Name : |
Mrs. Sumitra Singhal |
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Designation : |
Director |
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Address : |
361, Dewan Colony, Karnal-132001, |
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Date of Birth/Age : |
60 Years |
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Date of Appointment : |
31.08.2001 |
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DIN No.: |
00737655 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 29.09.2010
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Names of Shareholders |
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No. of Shares |
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Raj Pal Singhal |
|
591500 |
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Bharat Singhal |
|
153500 |
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Anuj Singhal |
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187500 |
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Sumitra |
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446000 |
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Mamta |
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264000 |
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Monika |
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292130 |
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Rajiv Singhal |
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2500 |
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Nidhi Singhla |
|
2000 |
|
Bharat Hospitals Limited |
|
183000 |
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Total |
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2122130 |
As On 29.09.2010
|
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 and Exporter of rice, spices, pickles, pulses, guar gum
etc. |
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Products : |
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Brand Names : |
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Exports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash |
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Purchasing : |
L/C, Cash |
PRODUCTION STATUS (As on 31.03.2010)
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Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
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Rice |
M.T. |
NA |
16 Ton Per Hour |
139062.00 |
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Spice |
Kgs. |
NA |
200 Kg. Per Hour
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Nil |
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GENERAL INFORMATION
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Customers: |
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Employees : |
200 (approximately) |
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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 : |
Viney Goel and Associates Chartered Accountant |
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Address : |
B-2, |
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Pan No.: |
AACFV7215L |
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Associates/Subsidiaries
: |
·
Sheeba International, Haryana ·
Ask Electronics, Haryana ·
Baaz Overseas, Haryana ·
Ask Technology ·
Raj Pal Bharat Kumar |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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2122130 |
Equity Shares |
Rs.10/- each |
Rs.21.221
Millions |
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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 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
21.221 |
19.391 |
17.312 |
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2] Share Application Money |
0.000 |
1.025 |
45.714 |
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3] Reserves & Surplus |
297.097 |
181.589 |
85.979 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
318.318 |
202.005 |
149.005 |
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LOAN FUNDS |
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1] Secured Loans |
724.503 |
510.047 |
347.149 |
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2] Unsecured Loans |
130.434 |
69.157 |
16.287 |
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TOTAL BORROWING |
854.937 |
579.204 |
363.436 |
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DEFERRED TAX LIABILITIES |
4.636 |
3.697 |
3.051 |
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TOTAL |
1177.891 |
784.906 |
515.494 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
164.051 |
87.056 |
52.238 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
1.600 |
1.600 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.00 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
880.010
|
615.447
|
397.026
|
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Sundry Debtors |
386.076
|
145.272
|
124.176
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Cash & Bank Balances |
15.860
|
9.364
|
1.962
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Other Current Assets |
0.000
|
0.000
|
0.000
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Loans & Advances |
22.089
|
24.497
|
40.938
|
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Total
Current Assets |
1304.035
|
794.580
|
564.102 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
226.349
|
76.057
|
87.743
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Other Current Liabilities |
0.000
|
0.000
|
4.732
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Provisions |
63.846
|
22.273
|
9.971
|
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Total
Current Liabilities |
290.195
|
98.330
|
102.446
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Net Current Assets |
1013.840
|
696.250
|
461.656
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
1177.891 |
784.906 |
515.494 |
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PROFIT & LOSS
ACCOUNT
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|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
2134.986 |
1076.777 |
996.590 |
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Other Income |
9.220 |
3.529 |
11.533 |
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TOTAL (A) |
2144.206 |
1080.306 |
1008.123 |
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Less |
EXPENSES |
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Raw Material Consumed |
467.031 |
361.403 |
214.500 |
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Purchases of Finished Goods |
1429.710 |
660.741 |
661.323 |
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Other manufacturing / Direct Expenses |
115.170 |
68.842 |
61.196 |
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Payment to Employee |
7.012 |
3.825 |
2.285 |
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Selling, Distributor and Administrative
Expenses |
277.934 |
189.936 |
77.679 |
|
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Accretion / Depletion in stock |
(267.556) |
(290.097) |
(72.226) |
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TOTAL (B) |
2029.301 |
994.650 |
944.757 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
114.905 |
85.656 |
63.366 |
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Less |
FINANCIAL
EXPENSES (D) |
67.712 |
58.496 |
40.196 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
47.193 |
27.160 |
23.170 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
12.486 |
7.840 |
5.389 |
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PROFIT BEFORE TAX
(E-F) (G) |
34.707 |
19.320 |
17.781 |
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Less |
TAX (I) |
8.869 |
5.031 |
4.394 |
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PROFIT AFTER TAX
(G-I) (J) |
25.838 |
14.289 |
13.387 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.000 |
0.000 |
0.000 |
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BALANCE CARRIED
TO THE B/S |
25.838 |
14.289 |
13.387 |
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|
Earnings Per
Share (Rs.) |
13.36 |
NA |
7.74 |
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Particulars |
|
31.03.2010 |
31.03.2009 |
|
Sales Turnover |
|
2140.000 |
1910.000 |
|
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|
Expected Sales (2010-2011) : Rs. 2320.000 Millions
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.21
|
1.32
|
1.33
|
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|
Net Profit Margin (PBT/Sales) |
(%) |
1.63
|
1.79
|
1.78
|
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Return on Total Assets (PBT/Total Assets} |
(%) |
2.36
|
2.19
|
2.88
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Return on Investment (ROI) (PBT/Networth) |
|
0.11
|
0.10
|
0.12
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Debt Equity Ratio (Total Liability/Networth) |
|
3.28
|
3.35
|
3.12
|
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Current Ratio (Current Asset/Current Liability) |
|
4.49
|
8.08
|
5.50
|
LOCAL AGENCY FURTHER INFORMATION
Financial Review:
The company has earned a net profit before tax of Rs. 34.707 millions
during the year.
FORM 8:
|
Corporate
identity number of the company |
U15312HR2001PLC034739 |
|
Name of the
company |
R P BASMATI RICE
LIMITED |
|
Address of the
registered office or of the principal place of business in |
Village |
|
This form is for |
Creation of
charge |
|
Type of charge |
Immovable property Any interest in immovable property Book debts Movable property (not being pledge) Floating Charge Forward Contract |
|
Particular of
charge holder |
State Bank of E-mail: sbi.04047@sbi.co.in |
|
Nature of
instrument creating charge |
Letter regarding
the grant of individual limits within the overall limits Sanction Letter |
|
Date of
instrument Creating the charge |
28.01.2011 |
|
Amount secured by
the charge |
Rs. 20.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Terms of
Repayment - on demand Extent and
Operation of the charge Forward Contract:
20.000 Millions |
|
Short particulars
of the property charged |
1st Pari Passu
charge on entire current assets of the company including socks, receivables
etc (both present and future) 2nd Pari Passu
charge on entire fixed assets of the company both present and future including
Equitable Mortgage of properties detailed below: 1) Land and Building measuring 4 Bighas 14
Biswas bearing Khewat No. 178/142, Khatoni No. 243, Khasra No. 5 situated at
Vill. Kambopura, Karnal 2) Land and Building measuring 10 Bighas 7
Biswas bearing Khewat No. 190, min/183, Khatoni No. 249, Part of Khasra No.
6,7,9,12 and Part of Khasra No. 6,7,9,18 situated at Vill. Kambopura, Karnal |
Fixed Assets:
·
Land
·
Machinery
·
Building
·
Furniture and Fixtures
·
Scooter
·
Mosturo Teeter
·
Weighing Machine
·
Car
·
Motor Cycle
·
Computer
·
Tirpal
·
Timber Carat
·
Lab Equipments
·
Photostate Machine
·
Effluent Treatment
·
Office Equipment
·
Fire Fighting System
·
Air Conditioner
·
Sewing Machine
·
Telephone Equipments
·
Gen Set
·
Tractor
·
Tubewell
·
Electric Equipments
·
Cycle
·
Electric panal
·
Tata ace
·
Transformer
AS PER WEBSITE DETAILS
PROFILE:
Subject has been in
operations for the last 20 years and has steadily grown year upon year and
during this time they have built a reputation as one of
Subject after being recognized as a Two Star Export House
has achieved another milestone by getting "ISO 9001:2000" and HACCP
Certification.
Subject has a full integrated milling, processing and manufacturing unit with a highly dedicated and motivated team.
Subject has earned the trust and confidence of Customers
around the world by following a policy of fulfilling the commitments as to
products, price quality and delivery whether large or small, each Client
receives same attentive and dedicative service and it's for these reasons that
has steadily grown and achieve degreater and greater success.
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.44.30 |
|
|
1 |
Rs.73.89 |
|
Euro |
1 |
Rs.65.57 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
46 |
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.