MIRA
INFORM REPORT
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Report Date : |
14.05.2011 |
IDENTIFICATION DETAILS
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Name : |
RUPAREL FOODS PRIVATE LIMITED |
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Registered
Office : |
P B No. 12, 43 Industrial Plot, |
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Country : |
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Financials (as
on) : |
23.11.2004 |
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Date of
Incorporation : |
31.03.2010 |
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Com. Reg. No.: |
04-045044 |
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Paid-up Capital
: |
Rs. 15.000 Millions |
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CIN No.: [Company Identification
No.] |
U15490GJ2004PTC045044 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Peanut Butter and Paste. |
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No. of Employees
: |
50 (approximately) |
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 47000 |
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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. There appear
huge accumulated losses recorded 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 some caution.
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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. Vishal Ruparel |
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Designation : |
Director |
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Contact No.: |
91-9898026817 |
LOCATIONS
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Registered Office/Factory : |
P B No. 12, 43 Industrial Plot, |
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Tel. No.: |
91-2844-222625/222681 |
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Mobile No.: |
91-9898026817 (Mr. Vishal Ruparel) |
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Fax No.: |
91-2844-222852/223575 |
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E-Mail : |
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Website : |
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Area : |
5000 sq.ft |
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Location : |
Owned |
DIRECTORS
As On 30.09.2010
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Name : |
Mr. Ranchhoddas Kikabhai Ruparel |
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Designation : |
Director |
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Address : |
15, Sarvodaya Society Behind Gandhi Bagh, Mahuva 364290, |
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Date of Appointment : |
14.12.2004 |
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DIN No.: |
00077543 |
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Name : |
Mr. Pankajkumar Ranchhoddas Ruparel |
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Designation : |
Director |
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Address : |
15, Sarvodaya Society Behind Gandhi Bagh, Mahuva 364290, |
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Date of Appointment : |
23.11.2004 |
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DIN No.: |
00077676 |
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Name : |
Mr. Vishalkumar Pankajkumar Ruparel |
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Designation : |
Director
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Address : |
15, Sarvodaya Society Behind Gandhi Bagh, Mahuva 364290, |
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Date of Appointment : |
23.11.2004 |
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DIN No.: |
00077767 |
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Name : |
Mr. Shyam Pankajbhai Ruparel |
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Designation : |
Director |
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Address : |
15, Sarvodaya Society Behind Gandhi Bagh, Mahuva 364290, |
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Date of Birth/Age : |
07.06.1986 |
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Date of Appointment : |
03.04.2008 |
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DIN No.: |
01558313 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 30.09.2010
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Names of Shareholders |
No. of Shares |
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Ranchhoddas K Ruparel |
185000 |
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Pankajkumar R Ruparel |
290000 |
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Vishalkumar P Ruparel |
155000 |
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Shyam P Ruparel |
100000 |
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Kusumben R Ruparel |
30000 |
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Rekhaben P Ruparel |
40000 |
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Ruparel Plastic Private Limited – |
100000 |
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Rupaweave Private Limited – |
350000 |
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Ruparel Net Private Limited – |
250000 |
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Total |
1500000 |
As On 30.09.2010
|
Category |
Percentage |
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Bodies corporate |
46.66 |
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Directors or relatives of Directors |
53.34 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Peanut Butter and Paste. |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
50 (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 : |
Gudani Associates Chartered Accountant |
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Address : |
101 – Vishal Flats, |
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Pan No.: |
ACHPG0358A |
CAPITAL STRUCTURE
As On 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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1500000 |
Equity Shares |
Rs. 10 each |
Rs.15.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1500000 |
Equity Shares |
Rs. 10 each |
Rs.15.000
millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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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 |
15.000 |
15.000 |
10.000 |
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2] Share Application Money |
3.200 |
3.200 |
3.200 |
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3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
(6.285) |
(6.524) |
(6.758) |
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NETWORTH |
11.915 |
11.676 |
6.442 |
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LOAN FUNDS |
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1] Secured Loans |
21.099 |
14.784 |
16.896 |
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2] Unsecured Loans |
15.651 |
15.947 |
2.185 |
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TOTAL BORROWING |
36.750 |
30.731 |
19.081 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
48.665 |
42.407 |
25.523 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
23.908 |
25.261 |
19.006 |
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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 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
10.491
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6.327
|
3.475 |
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Sundry Debtors |
11.973
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11.149
|
1.850 |
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Cash & Bank Balances |
0.066
|
0.168
|
0.116 |
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Other Current Assets |
0.000
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0.000
|
0.000 |
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Loans & Advances |
3.327
|
2.486
|
1.630 |
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Total
Current Assets |
25.857
|
20.130
|
7.071 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
1.122
|
2.755
|
0.645 |
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Other Current Liabilities |
0.047
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0.545
|
0.383 |
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Provisions |
0.088
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0.000
|
0.000 |
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Total
Current Liabilities |
1.257
|
3.300
|
1.028 |
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Net Current Assets |
24.600
|
16.830
|
6.043 |
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MISCELLANEOUS EXPENSES |
0.157 |
0.316 |
0.474 |
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TOTAL |
48.665 |
42.407 |
25.523 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
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66.790 |
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Other Income |
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|
0.000 |
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TOTAL |
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73.800 |
66.790 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
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66.556 |
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Advertising Expenses |
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TOTAL |
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73.561 |
66.556 |
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PROFIT BEFORE
TAX |
|
0.239 |
0.234 |
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Less |
TAX |
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0.000 |
0.000 |
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PROFIT AFTER TAX
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|
0.239 |
0.234 |
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Earnings Per
Share (Rs.) |
|
0.29 |
0.16 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
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PAT / Total Income |
(%) |
0.32
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0.35
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NA |
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Net Profit Margin (PBT/Sales) |
(%) |
NA
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0.35
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NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.48
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0.52
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NA |
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Return on Investment (ROI) (PBT/Networth) |
|
0.02
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0.02
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NA |
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Debt Equity Ratio (Total Liability/Networth) |
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3.19
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2.91
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3.12 |
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Current Ratio (Current Asset/Current Liability) |
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20.57
|
6.10
|
6.87 |
LOCAL AGENCY FURTHER INFORMATION
Form 8
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Name of the company |
RUPAREL FOODS PRIVATE LIMITED |
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Presented By |
Pankajbhai R Ruparel |
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1) Date and description of instrument creating the change |
15.12.2005 Memorandum of deposit
of equitable mortgage of factory, land, building, residential bungalows. Hypothecation of
plant and machinery and Hypothecation of goods. |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 17.400
millions Term Loan Rs. 13.500
Millions Cash Credit Limit (Sublimit FBP and EPC) Rs. 4.500
millions one time L/C Limit Rs. 3.500
millions Corporate Loan |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Plant and
Machinery and Stock of Raw peanut, WIP, Peanut Butter, i.e. Finished Goods
etc. at the factory. Equitable Mortgage on Land and Factory
building at Plot No. 41, Industrial Estate, Near T V Relay Centre, City
Mahuva, Bhavnagar. Land and Factory
building at Plot No. 43, Industrial Estate, Near T V Relay Centre, City
Mahuva, Bhavnagar. Land and Factory
building at Plot No. 44, Industrial Estate, Near T V Relay Centre, City
Mahuva, Bhavnagar. Residential House
At Plot No. 15, Sarvoday Society Mahuva. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
For Term Loan
10.50% with monthly rest For working
Capital 10.50% with monthly rest |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of
India Meghdoot Cinema, Mahuva Branch, |
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6) Date and brief description of instrument modifying the charge |
NA |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
NA |
FIXED ASSETS:
- Plant and
Machinery
- Lab Equipment
- Computer
- Office
Equipment
AS PER WEB SITE DETAILS
PROFILE:
Subject is a leading manufacturer of Peanut
Butter and Paste in
Peanut Butter at subject is made by state of
the art machineries imported from the
There In-House Laboratory is equipped with the
latest Technological Equipment for testing of Aflatoxin, Salmonella and Peroxide
Value; Spectrophotometer for colour identification. Subject is engaged in
Private Labeling for many countries around the world such as, USA, Canada,
Panama, UK, Italy, Germany, Saudi Arabia, UAE, Taiwan, South Korea, Philippines
and the ‘market is growing every day’.
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.44.91 |
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|
1 |
Rs.73.06 |
|
Euro |
1 |
Rs.64.03 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
-- |
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--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
|
--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.