MIRA
INFORM REPORT
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Report Date : |
12.11.2011 |
IDENTIFICATION DETAILS
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Name : |
ROHM CLAMPING TECHNOLOGIES PRIVATE LIMITED |
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Registered Office : |
# 241 S, 4th Block, 1st State, HBR Layout
Services Road, Off Outer Ring Road, Bangalore-560043, Karnataka |
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Country : |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
21.07.2003 |
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Com. Reg. No.: |
08 – 32289 |
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Capital
Investment/ Paid-up Capital: |
Rs. 0.130
Million |
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Tan No: |
BLRR03112E |
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CIN No.: [Company
Identification No.] |
U28939KA2003PTC032289 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trading of Machine Holding Tools |
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No. of Employees: |
Not Available |
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 66000 |
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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. Business is active. 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 – September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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India |
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 |
LOCATIONS
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Registered Office : |
# 241 S, 4th Block, 1st State, HBR Layout
Services Road, Off Outer Ring Road, Bangalore-560043, Karnataka, India |
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Tel. No.: |
91-80-25428716 / 25428717 |
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Fax No.: |
91-80-25428858 |
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E-Mail Id: |
DIRECTORS
As on 30.09.2011
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Name : |
Mr. Kurien Thomas |
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Designation : |
Director |
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Address : |
9 and 10 E, Penthouse, Jupiter Block, Regency magnum Apartments,
Hennur Main Road, Bangalore – 560 008, Karnataka, India. |
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Qualification: |
BE |
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Date of Birth/Age : |
30.10.1964 |
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Date of Appointment : |
21.07.2003 |
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Din No: |
01188117 |
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Other Directorship:
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Name : |
Mrs. Swapna Thomas |
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Designation : |
Director |
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Address : |
9 and 10 E Penthouse, Jupiter Block, Regency Magnum Apartments, |
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Date of Birth/Age : |
24.02.1969 |
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Date of Appointment : |
21.07.2003 |
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Din No: |
01188175 |
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Other Directorship:
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
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Names of Shareholders |
No. of Shares |
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Kurien Thomas |
5000 |
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Swapna Thomas |
5000 |
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Sulu Thomas |
3000 |
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Total |
13000 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2011
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Category |
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Percentage of
Holding |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Trading of Machine Holding Tools |
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Products : |
ITC CODE No |
Product
Description |
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846600 |
Machine Tools |
GENERAL INFORMATION
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Bankers : |
ICICI Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institute: |
Kotak Mahindra Prime Limited |
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Auditors : |
Tambakad and Goil |
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Chartered Accountant |
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Address : |
No. 15 Golf Course Road, Off Hal Airport Road, Bangalore-560008,
Karnataka, India |
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Pan No.: |
AAAFT4490M |
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Joint Venture Company: |
Rohm India Private Limited |
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Group Enterprise: |
Future Technologies |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs. 10/- Each |
Rs. 0.500
Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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13000 |
Equity Shares |
Rs. 10/- Each |
Rs. 0.130 Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.130 |
0.130 |
0.130 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
16.508 |
11.387 |
11.856 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
16.638 |
11.517 |
11.986 |
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LOAN FUNDS |
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1] Secured Loans |
1.295 |
0.000 |
0.041 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
1.295 |
0.000 |
0.041 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
17.933 |
11.517 |
12.027 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
4.321 |
1.051 |
1.203 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
7.739 |
6.100 |
6.455 |
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DEFERREX TAX ASSETS |
0.681 |
0.661 |
0.739 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
3.163
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2.536 |
3.110 |
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Sundry Debtors |
6.477
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6.406 |
6.660 |
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Cash & Bank Balances |
10.808
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2.505 |
4.873 |
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Other Current Assets |
0.000 |
0.000 |
0.000 |
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Loans & Advances |
1.662
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0.706 |
1.599 |
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Total
Current Assets |
22.110
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12.153 |
16.242 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditor |
12.325
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6.142 |
10.146 |
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Other Current Liabilities |
3.664
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1.290 |
0.627 |
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Provisions |
0.929 |
1.016 |
1.839 |
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Total
Current Liabilities |
16.918
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8.448 |
12.612 |
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Net Current Assets |
5.192
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3.705 |
3.630 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
17.933 |
11.517 |
12.027 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
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Other Income |
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TOTAL |
55.363 |
28.025 |
39.730 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
48.063 |
28.416 |
38.065 |
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Depreciation |
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Financial Charges |
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TOTAL |
48.063 |
28.416 |
38.065 |
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PROFIT/LOSS
BEFORE TAX |
7.300 |
[0.391] |
1.665 |
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Less |
TAX |
2.179 |
0.077 |
0.701 |
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PROFIT/ LOSS
AFTER TAX |
5.121 |
[0.468] |
0.964 |
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EARNINGS IN
FOREIGN CURRENCY |
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Export Earnings |
1.129 |
0.457 |
0.418 |
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TOTAL EARNINGS |
1.129 |
0.457 |
0.418 |
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IMPORTS |
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Traded Goods |
27.627 |
12.978 |
20.340 |
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TOTAL IMPORTS |
27.627 |
12.978 |
20.340 |
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Earnings Per
Share (Rs.) |
393.89 |
[36.03] |
74.13 |
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KEY RATIOS
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PARTICULARS |
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31.03.2011 |
31.03.2010 |
31.03.2009 |
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PAT / Total Income |
(%) |
9.25
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[1.67] |
2.43 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
27.62
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[2.96] |
9.54 |
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Return on Investment (ROI) (PBT/Networth) |
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0.44
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[0.03] |
0.14 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.09
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0.73 |
1.06 |
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Current Ratio (Current Asset/Current Liability) |
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1.31
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1.44 |
1.29 |
LOCAL AGENCY FURTHER INFORMATION
NOTE:
The Company changed its registered office from
“ 1689, 4th A Cross, 9th
Main, HAL 3rd Stage, Bangalore – 560 075, Karnataka, India to 312, 5th
A Main, 3 C Cross HRBR Block Ii, Kalyan Nagar, 560043 Bangalore, India w.e.f.
28.02.2007. The Registered office has again shifted from 312, 5th A
Main, 3 C Cross HRBR Block Ii, Kalyan Nagar, 560043 Bangalore, India to present
address w.e.f. 14.02.2011
OPERATIONAL PERFORMANCE:
The Company has posted good working results
for the year under review. In order to augment working capital resources
company Directors do not propose to declare any dividend. Company Directors are
confident of maintaining healthy growth for ensuring year.
Contingent Liability:
i)
The company is in the
process of collecting and reconciling of ‘C’ forms towards Interstate Sales at
concessional rate @ 2%. The contingent liability arising on the said Interstate
Sales for the differential tax is Rs. 4.376 Millions (Previous year Rs. 2.336
Millions)
ii) Counter Guarantee towards Banks Guarantee- Rs. 0.571 Millions (Previous
year Rs. 0.126 Million)
iii) Sales Includes billing amounting to Rs. 0.919 Million (Previous year Rs.
Nil) being the Stock held by the company pending customer advice for dispatch.
FIXED ASSETS:
Ř Computers and Software
Ř Furniture and Fixtures
Ř Office Equipment
Ř Vehicle
Ř Lease Hold Improvement
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.50.28 |
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|
1 |
Rs.80.08 |
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Euro |
1 |
Rs.68.44 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--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 |
NO |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
45 |
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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. 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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.