MIRA
INFORM REPORT
|
Report Date : |
16.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
RUBY MACONS LIMITED |
|
|
|
|
Registered Office : |
A – 203/204, Angelina Apartments, Rojini Road, Vile Parle (West),
Mumbai – 400056, Maharashtra. |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
08.05.1986 |
|
|
|
|
Com. Reg. No.: |
11-039768 |
|
|
|
|
Paid-up Capital : |
Rs. 33.318 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U28920MH1986PTC039768 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
SRTR01608F MUMR14446F |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACR1939A AABCR0343K |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer of Paper and Paper Boards. |
|
|
|
|
No. of Employees : |
400 (approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3800000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well 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 – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Jitendra N. Desai |
|
Designation : |
Accountant |
LOCATIONS
|
Registered Office : |
A – 203/204, Angelina Apartments, Rojini Road, Vile Parle (West),
Mumbai – 400056, Maharashtra., |
|
Tel. No.: |
91-22-26186771/ 72 |
|
Fax No.: |
91-22-26186773/ 74 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
Plot No. 789/4,
III Phase Road, GIDC, Vapi – 396195, |
|
Tel. No.: |
91-260-3050000 |
|
Fax No.: |
91-260-3050010 |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
206/6/3, Amrut Industrial Estate, Opposite Dadra Check Post, U.T. Of
Dadra and Nagar Haveli |
|
Location : |
Owned |
|
|
|
|
Factory 3 : |
Survey No. 56/1, Village Morai, Via Vapi, Vapi -396 191, Dist. Valsad,
Gujarat, India |
|
|
|
|
Branches : |
Located at
|
DIRECTORS
AS ON 10.08.2011
|
Name : |
Mr. Alibhai
Hasanbhai Nathani |
|
Designation : |
Whole Time
Director |
|
Address : |
Atul Society, |
|
Date of Birth/Age : |
29.08.1944 |
|
Qualification : |
Paper Tech Degree |
|
Date of Appointment : |
16.08.2006 |
|
DIN No.: |
00307266 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U28920MH1986PLC039768 |
Ruby
Macons Limited |
Whole-time
director |
5.07.2011 |
16.08.2006 |
- |
Active |
NO |
|
Name : |
Mr. Ashraf
Alibhai Nathani |
|
Designation : |
Managing Director
|
|
Address : |
Atul Society, |
|
Date of Birth/Age : |
23.05.1971 |
|
Qualification : |
Mechanical Engineer |
|
Date of Appointment : |
16.08.2006 |
|
DIN No.: |
00307527 |
Other
Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U28920MH1986PLC039768 |
Ruby
Macons Limited |
Managing
director |
5.07.2011 |
16.08.2006 |
- |
Active |
NO |
|
Name : |
Mr. Arshad
Alibhai Nathani |
|
Designation : |
Whole Time
Director |
|
Address : |
Atul Society, |
|
Date of Birth/Age : |
17.01.1980 |
|
Qualification : |
Software Engineer |
|
Date of Appointment : |
16.08.2006 |
|
DIN No.: |
00307430 |
Other
Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U28920MH1986PLC039768 |
Ruby
Macons Limited |
Whole-time
director |
5.07.2011 |
16.08.2006 |
- |
Active |
NO |
|
Name : |
Mr. Harshad Ghelabhai Vashi |
|
Designation : |
Whole Time Director |
|
Address : |
C-302, Rahul Apartment, Sky Build, |
|
Date of Birth/Age : |
01.12.1958 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
16.08.2006 |
|
DIN No.: |
00501097 |
Other
Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U28920MH1986PLC039768 |
Ruby
Macons Limited |
Whole-time
director |
5.07.2011 |
16.08.2006 |
- |
Active |
NO |
|
Name : |
Mr. Mahendinawaz Kaisar Kureshi |
|
Designation : |
Whole Time Director |
|
Address : |
B-Wing, Flat No – 303/304, |
|
Date of Birth/Age : |
05.01.1968 |
|
Qualification : |
Engineer |
|
Date of Appointment : |
16.08.2006 |
|
DIN No.: |
00502404 |
Other
Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U28920MH1986PLC039768 |
Ruby
Macons Limited |
Whole-time
director |
5.07.2011 |
16.08.2006 |
- |
Active |
NO |
|
Name : |
Mr. Ketan Chimanlal Damani |
|
Designation : |
Director |
|
Address : |
C-2/178, Karmakshetra Com. Harbansal Marg, Sion Koliwada, Mumbai –
400037, |
|
Date of Birth/Age : |
23.06.1960 |
|
Qualification : |
CA |
|
Date of Appointment : |
16.09.2006 |
|
DIN No.: |
00502665 |
Other
Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U28920MH1986PLC039768 |
Ruby
Macons Limited |
Director |
16.09.2006 |
16.08.2006 |
- |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Jitendra N. Desai |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 10.08.2011
|
Names of Shareholders |
|
No. of Shares |
|
Alibhai H. Nathani |
|
165000 |
|
Mehfuza A. Nathani |
|
795000 |
|
Ashraf A. Nathani |
|
766200 |
|
Arshad A. Nathani |
|
765300 |
|
Padmini Damji Savla |
|
50 |
|
Hirji J. Chheda |
|
75 |
|
Laxmichand J. Chheda |
|
75 |
|
Jayant J. Chheda |
|
75 |
|
Mehfuza A. Nathani |
|
75000 |
|
Rizwana A. Nathani |
|
382500 |
|
Firdaus A. Nathani |
|
382500 |
|
Total |
|
3331775 |
AS ON 10.08.2011
|
Category |
Percentage |
|
Directors or relatives of Directors |
99.99 |
|
Other top fifty shareholders |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Paper and Paper Boards. |
||||||
|
|
|
||||||
|
Products : |
|
PRODUCTION STATUS (As on 31.03.2010)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Unocated Paper and Paper Board |
MT |
174000 |
174000 |
121430 |
|
Pulp and Paper Making Machinery |
Nos. |
3000 |
NA |
672 |
|
Newsprint |
MT |
15500 |
15500 |
NA |
Note : The Company has capitalised or consumed 125 (Previous
Year 412) units during the year.
* The Dadra unit is presently engaged in the manufacturing of pulp and paper making machinery. It is not practical to give installed capacity of such engineering units as it depends on the type and quality of item manufactured.
The licensed capacity of the Furnace oil power plant as per the consent received form the Gujarat Electricity Regulatory Commission vide letter GERC/GSC-2003/No.1226 dated 01.11.2003 is 1,692 KW (Previous Year 1,692 KW) which is equivalent to 134 Lakhs units.
GENERAL INFORMATION
|
No. of Employees : |
400 (approximately) |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered accountants |
|
Address : |
Heritage, 3rd Floor, Near Gujarat Vidhyapith, Off Ashram
Road, Ahmadabad – 380014, Gujarat, India |
|
Tel. No.: |
91-79-27582542 |
|
Fax No.: |
91-79-27582551 |
|
Pan No.: |
AABFD7919A |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3500000 |
Equity Shares |
Rs. 10/- Each |
Rs.35.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3331775 |
Equity Shares |
Rs. 10/- Each |
Rs.33.318
Millions |
|
|
|
|
|
Note:
Of the 33,31,775 Ordinary shares
a)
250,000 shares represents after sub division of
25,000 shares(Including 12,000 shares issued as fully paid up bonus shares in the ratio of 1:1 by
capitalisation of the General reserves during the year 1989-90) of the face
value of Rs.100 each converted into the face value of Rs.10 each fully paid up
during the year 1994-1995.
b)
30,50,000 shares of face value of Rs.10 per shares
were issued as fully paid bonus shares by utilization of revaluation reserves
during the year 1994-1995 and 1995-1996.
c)
In the year 2001-2002 the Company bought back and
extinguished 1,18,225 equity shares.
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 |
33.318 |
33.318 |
33.318 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
923.067 |
700.824 |
581.834 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
956.385 |
734.142 |
615.152 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
553.528 |
419.296 |
434.932 |
|
|
2] Unsecured Loans |
37.364 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
590.892 |
419.296 |
434.932 |
|
|
DEFERRED TAX LIABILITIES |
230.418 |
200.425 |
173.325 |
|
|
|
|
|
|
|
|
TOTAL |
1777.695 |
1353.863 |
1223.409 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
990.063 |
789.317 |
767.633 |
|
|
Capital work-in-progress |
219.885 |
26.295 |
34.258 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
296.464
|
282.158
|
171.598
|
|
|
Sundry Debtors |
332.991
|
311.145
|
270.681
|
|
|
Cash & Bank Balances |
28.891
|
23.799
|
96.036
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
125.154
|
158.688
|
170.076
|
|
Total
Current Assets |
783.500
|
775.790
|
708.391
|
|
|
Less : CURRENT LIABILITIES
& PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
164.204
|
161.511
|
106.827
|
|
|
Others Current Liabilities |
49.429
|
71.300
|
176.305
|
|
|
Provisions |
2.119
|
4.728
|
3.741
|
|
Total
Current Liabilities |
215.752
|
237.539
|
286.873
|
|
|
Net Current Assets |
567.748
|
538.251
|
421.518
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1777.696 |
1353.863 |
1223.409 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2781.745 |
2588.978 |
2134.841 |
|
|
|
Other Income |
2.643 |
2.654 |
4.674 |
|
|
|
TOTAL (A) |
2784.388 |
2591.632 |
2139.515 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of Trading Goods |
36.087 |
152.630 |
0.000 |
|
|
|
Increase/(Decrease) in Finished Goods |
16.172 |
(8.996) |
(10.819) |
|
|
|
Materials Consumed |
1542.195 |
1489.933 |
1329.244 |
|
|
|
Personnel Expenses |
89.150 |
71.792 |
49.708 |
|
|
|
Manufacturing and Operating Expenses |
687.711 |
618.217 |
535.125 |
|
|
|
TOTAL (B) |
2371.315 |
2323.576 |
1903.258 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
413.073 |
268.056 |
236.257 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
22.570 |
36.816 |
36.937 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
390.503 |
231.240 |
199.320 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
60.537 |
54.884 |
48.579 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
329.966 |
176.356 |
150.741 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
105.780 |
55.417 |
51.751 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
224.186 |
120.939 |
98.990 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
170.664 |
102.174 |
85.133 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
1.666 |
1.666 |
1.666 |
|
|
|
Proposed Dividend Distribution Tax |
0.277 |
0.283 |
0.283 |
|
|
|
Transfer to General Reserve |
70.000 |
50.500 |
80.000 |
|
|
BALANCE CARRIED
TO THE B/S |
322.908 |
170.664 |
102.174 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
26.581 |
58.158 |
99.183 |
|
|
TOTAL EARNINGS |
26.581 |
58.158 |
99.183 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
738.098 |
813.866 |
631.711 |
|
|
|
Stores & Spares |
10.841 |
12.709 |
5.685 |
|
|
|
Capital Goods |
130.057 |
5.290 |
3.653 |
|
|
TOTAL IMPORTS |
878.996 |
831.865 |
641.049 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
67.29 |
36.30 |
29.71 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
8.05 |
4.67 |
4.63
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
11.86 |
6.81 |
7.06
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.60 |
11.27 |
10.21
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.35 |
0.24 |
0.25
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.87 |
0.89 |
1.17
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.63 |
3.27 |
2.47
|
LOCAL AGENCY FURTHER INFORMATION
PERFORMANCE REVIEW:
It gives them great pleasure to place before the results for the financial year 2009-10. When they entered the financial year, the demand environment was very uncertain. As a Company, their priority was to capture growth opportunities. To do this, they needed an organization that was not only production-intensive and customer-centric but also agile, adaptable and accountable. They are happy to report that their Company’s effort to give quality product, adopted latest technologies, cost saving and marketing strategy was able to capitalize on the growth opportunities by displaying these attributes. This has helped their Company emerge from the global recession with a stronger market position and a compelling value proposition for its customers. They kept their focus on the customers, understood their business main points and worked to solve them. The changing dynamics of the market drove the point home that their Company must always be frugal and efficient. They must have the ability to manage costs without compromising on the quality.
The overall performance of the company on all fronts has been satisfactory. During the year, the Company has achieved an aggregate Turnover of Rs.2780.000 millions registering an increase of 7 % over the previous year. Operating Profit before Interest, tax and Depreciation has increased to Rs.410.000 millions from previous year’s Rs.260.000 millions, registering an increase of 54 %. The Production of Uncoated Paper and Paper Board during the year is 1,21,430 M.T. as compared to 104,294 M.T. during the previous year, registering an increased of 16%.
MACHINERY SEGMENT:
Machinery division was fairly depressed for most of the year. Though, the turnover is lower than the previous year, the operating profit has remained flat as compared to previous year. The machinery division faces a persistent pressure on gross margins due to its inability to pass on rising input cost of raw material viz. steel and exchange fluctuation. The company will overcome the same by reducing nonprofitable business and focus on profitable, large projects and highly technical business.
POWER GENERATION:
The company has generated 202.14 lacs units (KWH) of power during the year against 186.81 lacs (KWH) in the previous year for captive consumption. The company’s main objective is to operate a modern, cost-effective, energy efficient and environment friendly production plant. The management is committed towards Conservation of Energy.
TECHNOLOGY
UPGRADATION:
The Company has taken major steps to conserve the energy:
- The Company has installed and started 4.95 MW Co-generation Thermal based Power Plant in April 2010 to reduce the Energy Cost
- The Company has also introduce new technologies for its paper machine to improve operating efficiency in terms of energy, production and quality, which will help the Company to sustain in a Competitive Market.
FUTURE OUTLOOK:
Having weathered the global recession,
According to a study by the McKinsey Global institute (MGI), ‘Bird of Gold’: The Rise of India’s Consumer Market’, Indian incomes are likely to grow three-fold over the next two decades and India will becomes the world’s fifth largest consumer market by 2025.
In order to meet the market challenges, the Company would continue to follow the philosophy of providing the highest quality of products to its customers as well as continue its emphasis to achieve possible cost savings in all areas of operations.
Expansion and diversification will help break into new markets. Technical edge, specialization, innovation and efficiency will determine the success of the Company in this globally competitive environment.
They are well poised to take the next big leap in their growth trajectory.
Form 8:
|
Corporate
identity number of the company |
U28920MH1986PLC039768 |
|
Name of the
company |
RUBY MACONS LIMITED |
|
Address of the registered
office or of the principal place of
business in |
|
|
This form is for |
Modification of
charge |
|
Type of charge |
Book Debts Movable Property |
|
Particular of
charge holder |
State Bank Of India - MID Corporate Branch, Vapi – 396195, Gujarat, India E-mail: sb.60144@sbi.co.in
|
|
Nature of
instrument creating charge |
Form C 5 Letter Regarding
The Grant Of Individual Limits Within Overall Limits |
|
Date of
instrument Creating the charge |
16.12.2010 |
|
Amount secured by
the charge |
Rs.719.600
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest Working Capital-
3.25% Above Base Rate I.E. 10.85% P.A.
With Monthly Rests. Term Loan- 4.15%
Above Br 11.75%P.A. With Monthly Rests. Slc 1.00% Above
CC Rate Terms of
Repayment DCC: Valid For A
Period Of One Year Payable On Demand Existing Term
Loan As Per Original Schedule ( As Per
Earlier Sanction Terms) Margin Cash Credit Rm:Domestic 25% Imported 25% Sip
30% Fg
35% Stores And
Spares 50% Receivables(60
Days) 35% Lc / Bg 10% Extent and
Operation of the charge To secure the due
repayment, discharge and redemption by the Company to the State Bank of India
for its Credit Facilities of Rs.719.600 millions granted to the Company as
under:-
Together with
interest additional interest liquidated damages, commitment charges, premia
on prepayment or redemption etc. on first charge |
|
Short particulars
of the property charged |
First Charge Over
All The Goods,Book Debts And Other Entire Current Assets And Plant and
Machinery Of The Company Present And Future, Acquired Out Of The Term Loan. |
|
Date of instrument
modifying the charge |
23.09.2009 |
|
Particulars of
the present modification |
The Loan Amount
Has Been Modified From Rs. 721.600 millions To Rs. 719.600 millions |
Contingent Liabilities:
|
Particulars |
31.03.2010 (Rs. in million) |
|
Guarantee issued
by the Bank at the request of the Company in favour of third parties. |
10.160 |
|
Estimated amount
of Contracts remaining to be executed on Capital Account and not provided for
{Net of advances of Rs. 2.706 millions |
7.475 |
|
|
|
FIXED ASSETS
· Land-Free Hold
· Land –Leasehold
· Building
· Plant and Machinery
· Furniture and Fixtures
· Office Equipment
· Vehicles
· Intangibles
·
Software
WEBSITE DETAILS
History:
Ruby Machinery and Consultants was incorporated in the year 1976 by the Technocrat Entrepreneur Mr. Alibhai Nathani. In the year 1986 The Company’s name was subsequented as Ruby Macons limited.
Initially the company was established to supply paper machinery and consultancy services to small paper mills projects. Mr. Alibhai Nathani started his career initially in the year 1976 as paper consultant supplying basic engineering services, equipments and related consultancy for paper mills in the country. He had earlier worked with paper mills like Central Pulp Mills and later started his own entrepreneurship venture as a paper consultant.
In 1986, Mr. Alibhai Nathani started Subject as his own venture. During 1986-88 subject was only supplying paper machines, technical consultancy services to paper industry and in the year 1988 subject set up is own paper mill with modest capacity of 20 TDP. Since then, subject has never looked back and over the period of time, the paper mill division witnessed a 10 fold capacity increase from 20 TPD to 425 TPD.
Simultaneously, the paper machinery and consultancy division has also made a steady progress and has earned the distinction of having supplied a large number of paper mill plant all over the country, together with technical support services for setting up/ maintenance and up keep of the said plants.
In 1999, subject set up the DNH Maschinenfabrik Division. It
was establish with the aim to serve the demand for paper industry for screen
basket and plates of all type. Subject had wide experience in screening.
Subject has the distinct of being the first company in
Thanks to the high level of technical expertise and skill of the promoter Mr. Alibhai Nathani, which has transformed into a strong technical knowledge base throughout the organisation. Apart from the key promoter, the management team comprises of his two sons Mr.Ashraf Nathani and Mr. Arshad Nathani, who are both qualified and well experienced in paper industry. Their enthusiasm and dynamic outlook have played a key role in the company’s growth.
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.47.84 |
|
|
1 |
Rs.75.40 |
|
Euro |
1 |
Rs.65.68 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
49 |
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.