MIRA
INFORM REPORT
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Report Date : |
17.05.2011 |
IDENTIFICATION DETAILS
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Name : |
RONSTAN INTERNATIONAL PTY LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
09.02.1995 |
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Legal Form : |
Proprietary Limited Company |
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Line of Business : |
Distribution of boat yachting equipment, rigging, wire, synthetic
ropes and fittings. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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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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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
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 – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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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 |
REGISTERED NAME
RONSTAN
INTERNATIONAL PTY LTD
ACN: 068 111 053
ABN: 16 068 111
053
CORPORATE SEARCH
INCORPORATED 9
February 1995
REGISTERED ADDRESS
BRAESIDE,
VIC 3195
SHARECAPITAL $2,754,444
SHAREHOLDERS
ORD 1094001 -MONEYFORCE PTY. LTD.
ORD 117830 -PETER DOWDNEY
ORD 12446 -PRUSSIA INVESTMENT COMPANY
ORD 25000 -MARTHA MARIE COLLINS
ORD 25000 -CHRISTOPHER DENNIS WILKES
ORD 25000 -SCOT PARKER WEST
ORD 25000 -PETER JOHN KATCHA
ORD 25000 -THOMAS MEYER
ORD 300000 -ANN CUNNINGHAM
ORD 32000 -TIMOTHY JAMES MELVILLE
ORD 32000 - ANNA ROSE MELVILLE
ORD 326400 - ANTHONY TANNER
ORD 354442 - LAINE NORMAN MCCOOKE
ORD 358680 - ROWAN MURRAY
ORD 402624 - TIMOTHY JAMES MELVILLE
ORD 402624 - ANNA ROSE MELVILLE
ORD 59405 - ANN CUNNINGHAM
ORD 59405 - GRAHAM WALTER CUNNINGHAM
ORD 805955 – BRYN STEVEN MADDERN-WELLINGTON
ORD 81000 - ALAN LELAND
ORD 874000 - LOUIS FRANK SANDER VIA DEI
COGORNO
DIRECTORS CUNNINGHAM,
Graham Walter
SOUTHBANK, VIC
MCCOOKE, Laine
BENTLEIGH, VIC 3204
SANDER,
Louis
Resident
overseas
MURRAY, Alistair
6,
BEAUMARIS, VIC 3193
SECRETARY MCCOOKE,
Laine
BENTLEIGH
EAST, VIC 3165
REGISTERED CHARGES ASIC Charge Number : 683577
Date Registered : 18 February 1999
Status : Fixed
and Floating
Chargee/Trustee : ANZ Banking Group Ltd
BUSINESS STRUCTURE
TRADING ADDRESS
BRAESIDE,
VIC 3195
TELEPHONE (613)
8586 2000
FACSIMILE (613)
8586 2099
CONTROLLED ENTITIES RONSTAN
PROPERTIES (AUSTRALA) P/L
RONSTAN
INTERNATIONAL INC
RONSTAN
RONSTAN
(
BANK ANZ Banking Group
Branch:
MELBOURNE,
VIC 3000
EMPLOYEES 147
BACKGROUND
The subject was incorporated in
OPERATIONS
The subject operates in the distribution of boat yachting equipment,
rigging, wire, synthetic ropes and fittings.
Activities are conducted from premises located at the above listed
trading address.
ADVERSE
A search of failed to trace any litigation listed against the subject at
that date.
FINANCES
From the subjects most recently lodged accounts it is shown that for the
last financial year ended 30 June 2010 the subject recorded consolidated revenue
of $27,794,713, which resulted in an operating profit before tax to $1,352,794
and an operating profit after tax of $853,431, representing a Net Profit Margin
of 3.07 percent.
Below is a summary of the subjects consolidated income results for the past
two financial years.
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Ronstan International Pty Ltd - consolidated |
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As at 30 June 2010 |
As at 30 June 2009 |
Change (%) |
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Revenue |
$27,794,713 |
$28,810,244 |
-3.52% |
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Profit b/tax |
$1,352,794 |
$848,984 |
59.34% |
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Profit a/tax |
$853,431 |
$629,456 |
35.58% |
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Net Profit Margin |
3.07% |
2.18% |
0.89% |
During fiscal 2010, the subject recorded Net Cashflows from operating
activities totalling $4,337,279.
On 30 September 2010 the controlled entity Ronstan Denmark APS acquired
the shares of
As at 30 June 2010, the subject recorded consolidated total current
assets of $22,502,192. They included cash of $976,270, receivables of
$3,466,037, inventories of $4,932,610 and assets held for sale of $12,765,844.
Current liabilities at the same date totaled $10,679,669 and included
payables of $1,703,806, tax liabilities of $3,028,848 and Other of $4,270,725.
The subject recorded Working Capital of $11,822,523 as at 30 June 2010
and a current ratio of 2.1 to 1 indicating a strong liquidity position.
Net Assets stood at $17,606,328 as at 30 June 2010. At this date, the
subject further recorded a Debt to Equity Ratio of 0.68 to 1
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Ronstan International Pty Ltd - consolidated |
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As at 30 June 2010 |
As at 30 June 2009 |
Change (%) |
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Revenue |
$27,794,713 |
$28,810,244 |
-3.52% |
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Profit b/tax |
$1,352,794 |
$848,984 |
59.34% |
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Profit a/tax |
$853,431 |
$629,456 |
35.58% |
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Net Profit Margin |
3.07% |
2.18% |
0.89% |
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Current Assets |
$22,502,192 |
$14,192,508 |
58.55% |
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Non-Current Assets |
$7,063,017 |
$20,634,112 |
-65.77% |
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Total Assets |
$29,565,209 |
$34,826,620 |
-15.11% |
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Current Liabilities |
$10,679,669 |
$7,313,212 |
46.03% |
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Non-Current Liabilities |
$1,279,212 |
$6,618,007 |
-80.67% |
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Total Liabilities |
$11,958,881 |
$13,931,219 |
-14.16% |
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Net Assets |
$17,606,328 |
$20,895,401 |
-15.74% |
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Working Capital |
$11,822,523 |
$6,879,296 |
71.86% |
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Current Ratio |
2.11 |
1.94 |
8.57% |
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Debt to Equity |
0.68 |
0.67 |
1.88% |
TRADE SURVEY
During the current investigation, contact with the subject’s principals was
unable to be established.
Subsequently details pertaining to the company’s suppliers were unable
to be obtained and a trade survey could not be conducted.
SUMMARY
The subject was incorporated in
For the last financial year ended 30 June 2010 the subject recorded
consolidated revenue of $27,794,713, which resulted in an operating profit
before tax to $1,352,794 and an operating profit after tax of $853,431,
representing a Net Profit Margin of 3.07 percent.
During fiscal 2010, the subject recorded Net Cashflows from operating
activities totalling $4,337,279.
The subject recorded Working Capital of $11,822,523 as at 30 June 2010
and a current ratio of 2.1 to 1 indicating a strong liquidity position.
Net Assets stood at $17,606,328 as at 30 June 2010.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.07 |
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1 |
Rs.72.97 |
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Euro |
1 |
Rs.63.57 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.