MIRA
INFORM REPORT
|
Report Date : |
05.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
RASINO HERBES PRIVATE LIMITED |
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|
|
|
Registered
Office : |
233, Bharat Industrial Co-operative Premises, L.B.S. Marg, Bhandup (West),
Mumbai-400078, Maharashtra |
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|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2011 |
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|
Date of
Incorporation : |
27.05.1983 |
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Com. Reg. No.: |
11-030062 |
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Capital
Investment/ Paid-up Capital: |
Rs.0.230 million |
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|
|
|
CIN No.: [Company Identification
No.] |
U24230MH1983PTC030062 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
KLPR01761E |
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|
|
PAN No.: [Permanent Account No.] |
AAACR8768R |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Drugs and Fine Chemicals. |
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No. of
Employees: |
20 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 4000 |
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|
|
Status : |
Moderate |
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|
|
Payment Behaviour : |
Slow But Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to low. However, Trade relations are reported as fair.
Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some
cautions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION PARTED BY
|
Name : |
Ms. Anamika |
|
Designation : |
Key Executive |
|
Contact No.: |
91-22-25963526 |
|
Date : |
02.11.2011 |
LOCATIONS
|
Registered Office/ Admin Office : |
233, Bharat Industrial Co-operative Premises, L.B.S. Marg, Bhandup
(West), Mumbai-400078, Maharashtra, India |
|
Tel. No.: |
91-22-25963526 / 32922378 |
|
Fax No.: |
91-22-25962748 |
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E-Mail : |
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|
Area : |
Owned |
|
|
|
|
Factory : |
N-2, MIDC, Chemical Zone Area, Kupwad, Sangali – 416436, Maharashtra,
India. |
|
Area : |
Owned |
DIRECTORS
(AS ON 30.09.2011)
|
Name : |
Mr. Pratap Riachand Doshi |
|
Designation : |
Director |
|
Address : |
C-1, Taruna Building, Bombay Agra Road, Mulund (West), Mumbai-400080,
Maharashtra, India. |
|
Date of Birth/Age : |
01.11.1947 |
|
Date of Appointment : |
27.05.1983 |
|
DIN No : |
01850288 |
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|
|
|
Name : |
Mrs. Pratibha Pratap Doshi |
|
Designation : |
Director |
|
Address : |
C-1, Taruna Building, Bombay Agra Road, Mulund (West), Mumbai-400080,
Maharashtra, India. |
|
Date of Birth/Age : |
01.09.1948 |
|
Date of Appointment : |
27.05.1983 |
|
DIN No : |
01448135 |
KEY EXECUTIVES
|
Name : |
Ms. Anamika |
|
Designation : |
Key Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2011)
|
Names of Shareholders |
|
No. of Shares |
|
Jawahar Raichand Doshi |
|
810 |
|
Pratap Raichand Doshi |
|
20685 |
|
Pratibha Pratap Doshi |
|
1550 |
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|
|
|
|
Total |
|
23045 |
Equity share Breakup
(AS ON 30.09.2011)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Drugs and Fine Chemicals. |
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Products : |
·
Ammonium Chloride IP / BP / LR ·
Potassium Chloride IP / BP / LR ·
Zinc Sulphate Heptahydrate IP ·
Zinc Sulphate Monohydrate USP |
|
|
|
|
Exports : |
|
|
Products : |
·
Potassium Chloride |
|
Countries : |
·
Bangladesh ·
Indonesia ·
Saudi Arabia |
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Terms : |
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Selling : |
Credit |
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Purchasing : |
Credit |
GENERAL INFORMATION
|
Suppliers : |
·
Ramesh Trading and Company |
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Customers : |
·
Wholesalers ·
Retailers ·
End Users |
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No. of Employees : |
20 (approximately) |
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Bankers : |
Corporation Bank, 185-R, P.K. Road, Mulund (West), Mumbai-400080,
Maharashtra, India. |
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Facilities : |
(Rs.
in millions)
(Rs.
in millions
|
|
Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
R. J. Kulkarni and Company Chartered Accountants |
|
Address : |
14, Preeti Apartments, Near Mali Theatre, Shivaji Nagar (S),
Sangli-416416, Maharashtra, India. |
|
Tel. No.: |
91-233-2325921 / 2325920 / 2324921 |
|
Fax No.: |
91-233-2324920 |
CAPITAL STRUCTURE
(AS ON 30.09.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000 |
Equity Share |
Rs.10/- each |
Rs.0.300 millions |
|
2000 |
Preference Share |
Rs.100/- each |
Rs. 0.200 millions |
|
|
|
|
|
|
|
Total |
|
Rs.0.500
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
23045 |
Equity Share |
Rs.10/- each |
Rs.0.230
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.230 |
0.230 |
0.230 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.982 |
0.501 |
0.213 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
(0.398) |
|
|
NETWORTH |
1.212 |
0.731 |
0.045 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.160 |
0.003 |
0.828 |
|
|
2] Unsecured Loans |
2.567 |
2.667 |
4.167 |
|
|
TOTAL BORROWING |
2.727 |
2.670 |
4.995 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
|
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TOTAL |
3.939 |
3.401 |
5.040 |
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|
|
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APPLICATION OF FUNDS |
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|
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FIXED ASSETS [Net Block] |
3.636 |
2.931 |
3.048 |
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|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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|
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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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|
|
|
|
|
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|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1.758
|
1.253 |
1.305 |
|
|
Sundry Debtors |
5.354
|
8.141 |
7.185 |
|
|
Cash & Bank Balances |
6.680
|
1.713 |
0.682 |
|
|
Other Current Assets |
3.005
|
1.784 |
3.095 |
|
|
Loans & Advances |
0.000
|
0.000 |
0.000 |
|
Total
Current Assets |
16.797
|
12.891 |
12.267 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
16.133
|
12.214 |
10.257 |
|
|
Other Current Liabilities |
0.261
|
0.016 |
|
|
|
Provisions |
0.100
|
0.191 |
|
|
Total
Current Liabilities |
16.494
|
12.421 |
10.275 |
|
|
Net Current Assets |
0.303 |
0.470 |
1.992 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3.939 |
3.401 |
5.040 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
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|
|
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|
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Income |
|
|
|
|
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|
Other Income |
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|
|
|
|
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TOTAL |
39.118 |
26.222 |
30.444 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
38.563 |
25.423 |
|
|
|
|
Depreciation |
|
|
|
|
|
|
TOTAL |
38.563 |
25.423 |
30.033 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
0.555 |
0.799 |
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.074 |
0.114 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
0.481 |
0.685 |
0.411 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
0.481 |
0.685 |
0.411 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
20.87 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.23
|
2.61 |
1.35 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.21
|
4.52 |
2.68 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.39
|
0.94 |
9.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
15.77
|
20.27 |
339.33 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.69
|
1.01 |
1.19 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
(Rs.
in millions)
|
Particulars |
As on 31.03.2011 |
As on 31.03.2010 |
As on 31.03.2009 |
|
Trade Creditors |
16.133 |
12.214 |
10.257 |
|
|
|
|
|
|
Check List by Info
Agents |
Available in
reports |
|
1) Year of
Establishment |
Yes |
|
2) Locality of
the Firm |
Yes |
|
3) Constitution
of the Firm |
Yes |
|
4) Premises
Details |
Yes |
|
5) Type of
Business |
Yes |
|
6) Line of
Business |
Yes |
|
7) Promoter’s
Background |
--------- |
|
8) No. of
Employees |
Yes |
|
9) Name of
person contacted |
Yes |
|
10) Designation
of contact person |
Yes |
|
11) Turnover of
firm of last two years |
Yes |
|
12)
Profitability for last three years |
--------- |
|
13) Reasons for
variations <> 20% |
--------- |
|
14) Estimation
for coming financial year |
No |
|
15) Capital in
the business |
No |
|
16) Details of
Sister concern |
---------- |
|
17) Major
Suppliers |
Yes |
|
18) Major
Customers |
No |
|
19) Payments
terms |
Yes |
|
20) Export / Import
details (if applicable) |
Yes |
|
21) Market
Information |
--------- |
|
22) Litigation
that the firm / promoter involved |
--------- |
|
23) Banking
Details |
Yes |
|
24) Banking
facility Details |
No |
|
25) Conduct of
the banking account |
--------- |
|
26) Buyer visit
details |
--------- |
|
27) Financials,
if provided |
No |
|
28)
Incorporation details, if applicable |
---------- |
|
29) Last account
field at ROC |
---------- |
|
30) Major
Shareholders, if available |
---------- |
Note:
The Registered office of the company has been
shifted from Tarara Building, C/1, Bombay Agra Road, Mulund (West),
Mumbai-400080, Maharashtra, India to present address.
TRADE RFEFERANCE:
·
Ramesh Trading and
Company
FORM 8:
|
This form is for |
Creation of charge |
|
Corporate identity number of the company |
U24230mh1983ptc030062 |
|
Name of the company |
RASINO HERBES PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
Tarara Building, C/1, Bombay Agra Road,
Mulund (West), Mumbai-400080, Maharashtra, India. |
|
Type of charge |
Book Debts Others- C.A Stock and book Debts |
|
Particular of charge holder |
Corporation Bank, 185-R, P.K. Road, Mulund
(West), Mumbai-400080, Maharashtra, India. Email Id : adlalwani@rediffmail.com |
|
Nature of description of the instrument
creating or modifying the charge |
Common Deed of Hypothecation of Movables /
assets / Debts |
|
Date of instrument Creating the charge |
23.10.2006 |
|
Amount secured by the charge |
Rs.3.500 millions |
|
Brief particulars of the principal terms
an conditions and extent and operation of the charge |
Rate of Interest : As stipulated by Bank from time to time Terms of Repayment : As stipulated by Bank from time to time Margin : As stipulated by Bank from time to time Extent and Operation of the charge : First Charge (present and future) - as
stipulated by Bank from time to time Others As per sanction letter of the Bank |
|
Short particulars of the property charged |
First Charge (present and future) –
Hypothecation of all current assets including stock, all book debts and receivables
of the company, all goods / stock brought under L.C. and all export
documentary bills of the company. |
FIXED ASSET:
·
Building
·
Electrical Installation
·
Furniture and Fixture
·
Land-Leasehold
·
Library
·
Office Equipment
·
Plant and Machinery
·
Fax Machine
·
Grinding Machine
·
Mobile \handset
·
Motor Car-Scoda
·
Computer
·
Motor Pump
·
Motor Bike (Bajaj)
·
Fire extinguislher
·
Tissue Culture Expenses
·
Tissue Culture Asset
·
Air Conditioner G3 Pcs
·
Digital 160 GB HDD
·
Exhaust Fan
·
LG Ac Split LSA5UW2VF
·
Mini Inverter
·
Sumersible Pumpset
·
HP Laserjet Printer
·
Motor Car
·
Motor Car 120
·
Pendrive
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.49.08 |
|
|
1 |
Rs.78.65 |
|
Euro |
1 |
Rs.67.79 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
29 |
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.