MIRA
INFORM REPORT
|
Report Date : |
12.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
R P FOAM HOME PRIVATE LIMITED |
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Registered
Office : |
1, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
19.03.1987 |
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Com. Reg. No.: |
55-027352 |
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Capital
Investment / Paid-up Capital : |
Rs. 19.000 Millions |
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CIN No.: [Company Identification
No.] |
U74899DL1987PTC027352 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Polyurethane Foam Mattresses, Pillows, Cushions,
Bolsters, Sheets, Rolls, etc. |
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No. of Employees
: |
100 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
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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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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 profitability of
the company appears to be low. 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. |
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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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
|
Name : |
Mr. Pankaj Gupta |
|
Designation : |
Director |
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Contact No.: |
91-9810069991 |
|
Date : |
11.11.2011 |
LOCATIONS
|
Registered Office : |
1, |
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Tel. No.: |
91-11-23614144 |
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Mobile No.: |
91-9810069991 (Mr. Pankaj Gupta) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Area : |
1000 sq. ft. |
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Location : |
Owned |
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Factory : |
Main G.T. Road, Village Chithedha, Tehsil Dadri, Gautam Buddh Nagar,
Uttar Pradesh, India |
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Tel. No.: |
91-120-2050921 |
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Fax No.: |
91-120-2050920 |
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Branch Office : |
4415, Street Bahujee, Bahadur Garh Road, Sadar Bazar, New Delhi –
110006, India |
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Tel. No.: |
91-11-23540577 |
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Fax No.: |
91-11-23514144 |
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Location : |
Owned |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Ram P. Gupta |
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Designation : |
Director |
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Address : |
1, |
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Date of Birth/Age : |
01.07.1950 |
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Date of Appointment : |
19.03.1987 |
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Name : |
Ms. Rani Gupta |
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Designation : |
Director |
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Address : |
1, |
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Date of Birth/Age : |
12.03.1952 |
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Date of Appointment : |
19.03.1987 |
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Name : |
Mr. Pankaj Gupta |
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Designation : |
Director |
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Address : |
1, |
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Date of Birth/Age : |
02.01.1976 |
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Date of Appointment : |
01.04.1999 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
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Names of Shareholders |
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No. of Shares |
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|
Ram P. Gupta |
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280 |
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Rani Gupta |
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290 |
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Pankaj Gupta |
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430 |
|
Navrekha Commotrade Private Limited, India |
|
7000 |
|
Parijat Commodeal Private Limited, India |
|
10000 |
|
Finlord Marketing Private Limited, India |
|
5000 |
|
Trimline Vyapaar Private Limited, India |
|
19000 |
|
Goldmoon Fiscal Service Limited, India |
|
8000 |
|
Mahadhan Vyapaar Private Limited, India |
|
5000 |
|
Anita Apartments Private Limited, India |
|
5000 |
|
Garlon Vinimay Private Limited, India |
|
50000 |
|
Carwin Mercantiles Private Limited, India |
|
10000 |
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Ramganga Tracon Private Limited, India |
|
20000 |
|
Murat Properties Private Limited, India |
|
30000 |
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Haridwar Traders Private Limited, India |
|
20000 |
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|
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Total |
|
190000 |
AS ON 30.09.2010
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
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Bodies corporate |
99.47 |
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Directors or relatives of Directors |
0.53 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Polyurethane Foam Mattresses, Pillows, Cushions,
Bolsters, Sheets, Rolls, etc. |
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Products : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
·
UK ·
China ·
Korea |
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Terms : |
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Selling : |
Cash and Credit (30 days and 60
days) |
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Purchasing : |
Cash and Credit (30 days and 60
days) |
PRODUCTION STATUS (AS ON 31.03.2010)
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Particulars |
Actual
Production |
|
Polyurethane Foam |
28,40,020.40 |
GENERAL INFORMATION
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Customers : |
End Users and OEM’s |
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No. of Employees : |
100 [Approximately] |
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Bankers : |
Canara Bank, Sadar Bazar, New Delhi – 110006, India |
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Facilities : |
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Banking
Relations : |
--- |
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Auditors : |
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Name : |
Jitendra Anil and Company Chartered Accountant |
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Address : |
M-4, Munish Plaza, 20, Ansari Road, Darya Ganj, New Delhi – 1100021,
India |
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Tel. No.: |
91-11-23275348 |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000 |
Equity Shares |
Rs.100/- each |
Rs. 20.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
190000 |
Equity Shares |
Rs.100/- each |
Rs. 19.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
19.000 |
19.000 |
19.000 |
|
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
3.477 |
2.186 |
1.600 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
22.477 |
21.186 |
20.600 |
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LOAN FUNDS |
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1] Secured Loans |
30.219 |
18.184 |
22.629 |
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2] Unsecured Loans |
8.664 |
14.001 |
30.467 |
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TOTAL BORROWING |
38.883 |
32.185 |
53.096 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
61.360 |
53.371 |
73.696 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
25.397 |
18.557 |
13.716 |
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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 |
32.153
|
19.922 |
28.669 |
|
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Sundry Debtors |
35.669
|
40.223 |
57.597 |
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|
Cash & Bank Balances |
4.483
|
4.018 |
3.163 |
|
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Other Current Assets |
18.331
|
15.921 |
14.723 |
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Loans & Advances |
35.515
|
15.903 |
13.819 |
|
Total
Current Assets |
126.151
|
95.987 |
117.971 |
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|
Less : CURRENT
LIABILITIES & PROVISIONS |
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|
|
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|
Sundry Creditors |
59.371
|
51.396 |
34.674 |
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Other Current Liabilities |
30.672
|
9.570 |
23.301 |
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Provisions |
0.145
|
0.207 |
0.016 |
|
Total
Current Liabilities |
90.188
|
61.173 |
57.991 |
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Net Current Assets |
35.963
|
34.814 |
59.980 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
61.360 |
53.371 |
73.696 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2010 |
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SALES |
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Income |
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Other Income |
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TOTAL |
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345.834 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
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|
343.901 |
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Advertising Expenses |
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TOTAL |
|
|
343.901 |
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PROFIT BEFORE
TAX |
|
|
1.933 |
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|
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|
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Less |
TAX |
|
|
0.642 |
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PROFIT AFTER TAX
|
|
|
1.291 |
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Earnings Per
Share (Rs.) |
|
|
6.79 |
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Particulars |
|
|
31.03.2011 |
|
Sales Turnover [Approximately] |
|
|
430.000 |
Expected Sales (2011-12): Above Rs. 550.000 Millions
The above information has been parted by Mr. Pankaj Gupta.
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.37
|
NA |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
1.27
|
NA |
NA |
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Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
NA |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
|
5.74
|
4.40 |
5.39 |
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Current Ratio (Current Asset/Current Liability) |
|
1.39
|
1.56 |
2.03 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by
Info Agents |
Available in
Report (Yes / No) |
|
1) Year of Establishment |
Yes |
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2) Locality of the firm |
Yes |
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3) Constitutions of the firm |
Yes |
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4) Premises details |
Yes |
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5) Type of Business |
Yes |
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6) Line of Business |
Yes |
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7) Promoter’s background |
-- |
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8) No. of employees |
Yes |
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9) Name of person contacted |
Yes |
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10) Designation of contact person |
Yes |
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11) Turnover of firm for last three years |
Yes (2 Years) |
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12) Profitability for last three years |
No |
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13) Reasons for variation <> 20% |
-- |
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14) Estimation for coming financial year |
Yes |
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15) Capital in the business |
-- |
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16) Details of sister concerns |
No |
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17) Major suppliers |
No |
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18) Major customers |
No |
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19) Payments terms |
Yes |
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20) Export / Import details (if applicable) |
Yes |
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21) Market information |
-- |
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22) Litigations that the firm / promoter involved in |
-- |
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23) Banking Details |
Yes |
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24) Banking facility details |
-- |
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25) Conduct of the banking account |
-- |
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26) Buyer visit details |
-- |
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27) Financials, if provided |
No |
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28) Incorporation details, if applicable |
-- |
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29) Last accounts filed at ROC |
-- |
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30) Major Shareholders, if available |
-- |
Form 8
|
Corporate
identity number of the company |
U74899DL1987PTC027352 |
|
Name of the
company |
R P FOAM HOME PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
1, |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable
property Book debts Movable property Floating charge |
|
Particular of
charge holder |
Canara Bank, Sadar Bazar, New Delhi – 110006, India |
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Email |
|
|
Nature of
instrument creating charge |
Hypothecation
Agreement of goods and book-debts (for DALC/DPG/Guarantee) dated 30.01.2010,
Counter Indemnity dated 30.01.2010, Letter of Indemnity for Acceptance/Co-acceptance
of Bills dated 30.01.2010 and Letter evidencing extension of equitable
mortgage alongwith Schedule A and b dated 30.01.2010. |
|
Date of
instrument Creating the charge |
30.01.2010 |
|
Amount secured by
the charge |
Rs. 47.500 Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest @ 15.25% p.a. at
monthly rests or at such rate(s) would prevail at the time of arising any
liability under the said limit. Terms of Repayment
Payable on
demand. Margin 25% Extent and
Operation of the charge 100% Others To secure all
amounts payable under enhanced FLC (DA/DP) limit of Rs. 47.500 Millions with
FLC (DA) as a sub limit of Rs. 35.000 Millions granted to the company. |
|
Particulars of
the property charged |
a) All the goods
and commodities such as PU Foam etc. or any other goods acceptable to the
Bank purchased, acquired, received under
FLC now lying
or hereafter stored at the
godowns, yards and
premises in Village Chilhera Main,
G.T. Road, Tehsil - Dadri, District
Gautam Budh Nagar (UP) and
4415, Gali Bahuji, Pahari Dhiraj,
Delhi-110006 or lying at any other
place wheresoever. b) All the
book-debts, outstandings, money
receivables, claims and bills which
are now due and owing or which
may at
any time hereafter during the continuance of this security become due and Owing to the
borrower in the course of its
business by any person, firm, company or by the Government or any local or
public body or authority. |
|
Date of
instrument modifying the charge |
24.08.2007 |
|
Particulars of
the present modification |
The charge on
stock of all goods acquired under the limit and all book-debts arising out of
the sale of such goods-both present and future as prime security and
equitable mortgage of immovable properties of the company situated at Village
Chilhera, Dadri, District Gautam Budh
Nagar (UP) as collateral security stands enhanced from Rs. 30.000 Millions to
Rs. 47.500 Millions. |
WEBSITE DETAILS:
PROFILE:
Subject is an ISO
9001:2008 certified company. It was founded in the year 1987. Today they are
one of the manufacturers of Slabstock P.U. Foam and coir mattresses in India. This
has been achieved by their unmatched efforts and focus on quality, innovation
and continual improvement. They have a wide area of network in which they have
40 distributors and 3000 dealers. A combination of manufacturing excellence and
distribution network has enabled us to get over a very wide portion of the
Indian P.U. Foam market share. This has enabled us to serve their customers very effectively. Subject dreams
has become one of the most trusted and leading brand in home comfort products
and industrial like Hotels, Institutions respectively in India. In addition to
standard P.U. Foam, they manufacture a wide variety of Technical Foams (i.e.
Memory, Flame Retardant, High Resilience, sea sponge, etc.) and a comfort
product range with the use of rubberized coir mattresses. R.P. FOAM is now
looking forward into a brand extension and a complete makeover to give its
expending activity a definite direction and a wider dimension. Thus operating
on a larger scale the company has more room to grow and will always manufacture
a wide range of trusted quality products for it s customers.
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.50.27 |
|
|
1 |
Rs.80.07 |
|
Euro |
1 |
Rs.68.45 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
28 |
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 |
- |
|
Maximum Credit Limit : |
USD 80000 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.