MIRA
INFORM REPORT
|
Report Date : |
02.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
RAYCHEM RPG - PRIVATE LIMITED (w.e.f. 08.09.2010) |
|
|
|
|
Formerly Known
As : |
RAYCHEM RPG LIMITED |
|
|
|
|
Registered
Office : |
RPG House, 463, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
18.08.1984 |
|
|
|
|
Com. Reg. No.: |
11-033786 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.30.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999MH1984PTC033786 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR15956D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACR8032L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacture and Exporter of Electric Heating Equipments. |
|
|
|
|
No. of Employees
: |
600 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (64) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 6100000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a joint venture
between Tyco Electronics USA, and RPG Group, It is well established and a
reputed company having fine track. Financial position of the company appears
to be sound. Trade relations are reported as fair. Business is active.
Payments are reported to be regular 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.
INFORMATION PARTED BY (General Details)
|
Name : |
Mr. Manish Kumar |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-250-3057555 |
|
Date : |
30.03.2012 |
LOCATIONS
|
Registered/ Corporate Office : |
RPG House, 463, |
|
Tel. No.: |
91-22-24937485 / 6 / 39509400 |
|
Fax No.: |
91-22-24938879 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branches : |
Located At :
1/62M.G.Road,Near Bharat Petrol
Pump Off Phone No: 91-250-3057500 Fax No: 91-250-2480046
GAT No. 426/2B Chakan-Talegaon
Road, Mahalunge Village
R-508, TTC Industrial Area ,MIDC, Rabale, Navi
Mumbai - 400708
Survey No.64, 64, 65 & 66,
Hissa No.1 & 2
Village Plasra Nihla, |
|
|
|
|
|
Customer Care Centre Survey No.64, 64, 65 & 66, Hissa No.1
& 2 Deodal, PO Kaman, Taluka, Vasai District, Thane – 401202, India Rayline
Centres 304, 3rd Floor, Vishwa Sadan 9, District
Centre Janakpuri, Zensar
Business Centre International
Business Division 1/62, M. G. Road, Off Western Express
Highway, Sativali, Vasai (East), Dist. Thane – 401208, India Raychem
RPG – International Office Raychem RPG International FZE P.Box 121006, Sharjah Airport International
Free Zone Sharjah - UAE |
|
|
|
|
Sales Office : |
Located At : ·
|
|
Rayline Centres : |
304, 3rd Floor, Vishwa
Sadan 9, District Centre Janakpuri, Zensar Business Centre |
|
|
|
|
International Business Division : |
1/62, M. |
|
Tel. No.: |
91-250-3057500 |
|
Fax No.: |
91-250-248-0046 /60 |
|
E-Fax : |
91-22-6646-6957 |
|
E-Mail : |
|
|
|
|
|
International Office : |
Raychem RPG International FZE, P.Box 121006, Sharjah - UAE |
|
E-Mail : |
|
|
|
|
|
Factory : |
1, 62, M. G. Road, Near Bharat Petrol Pump, Bassein Taluka, Vasai, District Thane – 401 208, Maharashtra |
DIRECTORS
As on 27.09.2011
|
Name : |
Mr. Viswanath Srinivasan |
|
Designation : |
Director |
|
Address : |
401, Good Earth No. 1, |
|
Date of Birth/Age : |
29.12.1965 |
|
Date of Appointment : |
12.12.2002 |
|
DIN No.: |
01758140 |
|
|
|
|
Name : |
Mr. Ramesh Deokisandas Chandak |
|
Designation : |
Director |
|
Address : |
1202 |
|
Date of Birth/Age : |
07.11.1946 |
|
Date of Appointment : |
18.11.2003 |
|
DIN No.: |
00026581 |
|
|
|
|
Name : |
Mr. Anant Vardhan Goenka |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
14-15 A, IL Palazzo, B.G. Kher Marg, Mumbai – 400006, |
|
Date of Birth/Age : |
19.10.1981 |
|
Date of Appointment : |
20.03.2008 |
|
DIN No.: |
02089850 |
|
|
|
|
Name : |
Mr. Tony Martin Gatt |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
Hobbing Foot, |
|
Date of Birth/Age : |
31.05.1960 |
|
Date of Appointment : |
27.06.2008 |
|
DIN No.: |
00052339 |
|
|
|
|
Name : |
Mr. Ajit Singh Karan Chouhan |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
E 1/7 Vasant Vihar, |
|
Date of Birth/Age : |
14.05.1961 |
|
Date of Appointment : |
11.09.2008 |
|
DIN No.: |
02284557 |
|
|
|
|
Name : |
Jan Alexander Gero Ciliax |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
Steckgasse 6, |
|
Date of Birth/Age : |
14.11.1968 |
|
Date of Appointment : |
31.03.2009 |
|
DIN No.: |
02607724 |
|
|
|
|
Name : |
Mr. Harsh Vardhan Goenka |
|
Designation : |
Director |
|
Address : |
14-15 A, IL Palazzo, B.G. Kher Marg, Malabar hill, Mumbai – 400006, |
|
Date of Birth/Age : |
10.12.1957 |
|
Date of Appointment : |
07.02.1989 |
|
DIN No.: |
00026726 |
|
|
|
|
Name : |
Mr. Sharad Madhav Kulkarni |
|
Designation : |
Director |
|
Address : |
161-A, Twin Towers, Veer Savarkar Marg, Prabhadevi, Mumbai – 400025, Maharashtra,
India |
|
Date of Birth/Age : |
09.12.1939 |
|
Date of Appointment : |
07.02.1989 |
|
DIN No.: |
00003640 |
|
|
|
|
Name : |
Subbaiah Kokkalera Uthappa |
|
Designation : |
Director |
|
Address : |
Flat No. 406, Wings, 16/1, |
|
Date of Birth/Age : |
21.01.1959 |
|
Date of Appointment : |
12.12.2002 |
|
DIN No.: |
00355548 |
|
|
|
|
Name : |
Christoph Friedrich Zeyen |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
Parklaan, |
|
Date of Birth/Age : |
17.09.1958 |
|
Date of Appointment : |
29.06.2010 |
|
DIN No.: |
03128385 |
KEY EXECUTIVES
|
Name : |
Mr. Kapil Manharlal Gohil |
|
Designation : |
Secretary |
|
Address : |
302 Vasant Laxmi, MG Cross Road No.4, Kandivali (West), Mumbai –
400067, |
|
Date of Birth/Age : |
05.06.1970 |
|
Date of Appointment : |
02.12.2004 |
|
PAN No.: |
AACPG5791Q |
|
|
|
|
Name : |
Mr. Manish Kumar |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2011
|
Names of Shareholders |
No. of Shares |
|
Raychem Internatioanl Manufacturing LLC |
149970 |
|
Sri Parvathi Suthan Trading Company LLP, |
149993 |
|
Chattarpati Investments Limited, |
1 |
|
Carniwal Investments Limited, |
4 |
|
Universal Industrial Fund Limited, |
1 |
|
RPG Cellular Investments and Holdings Private Limited, |
1 |
|
Tyco Electronics Corporation India Private Limited, |
10 |
|
Tyco Electronics Systems India Private Limited, |
10 |
|
Tyco Electronics Tools India Private Limited, |
10 |
|
Total |
300000 |
Equity Share Break up (Percentage of Total Equity)
As on 27.09.2011
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
49.99 |
|
Bodies corporate |
50.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture and Exporter of Electric Heating Equipments. |
||||||||
|
|
|
||||||||
|
Products : |
Heat Shrinkable Power / Telecom Cable Accessories Auto Trace Die Electric Heating Equipment |
||||||||
|
|
|
||||||||
|
Exports : |
|
||||||||
|
Products : |
Electric Heating Equipment |
||||||||
|
Countries : |
|
||||||||
|
|
|
||||||||
|
Imports : |
|
||||||||
|
Products : |
Finished Goods |
||||||||
|
Countries : |
|
||||||||
|
|
|
||||||||
|
Terms : |
|
||||||||
|
Selling : |
Cash and Credit |
||||||||
|
|
|
||||||||
|
Purchasing : |
L/C, Cash and Credit |
PRODUCTION STATUS AS ON 31.03.2011
|
Particulars |
Unit |
Licensed
Capacity |
Installed Capacity |
|
Low and High Voltage Power Cable
Connection and Termination Systems |
Kits |
1100000 |
* |
|
Telecommunication Cable |
Kits |
1600000 |
* |
|
Connection System and Components |
Pcs. |
NA |
13200000 |
|
Heat Shrinkable Moulded Parts |
Pcs |
NA |
5772384 |
|
Branch of Clips |
Nos. |
NA |
1200 |
|
Transformer (OFT and Dry) up to 33 Kv |
Nos. |
NA |
30000 |
|
Transformer (OFT and Dry) up to 5MVA |
Nos. |
NA |
4200 |
|
Instrument Transformers (CT and PT) Indoor
up to 33 Kv Gas Meter |
Nos. |
NA |
144000 |
|
Transformer Rectifier Units |
Nos. |
NA |
1000 |
|
Energy Meter |
Nos. |
NA |
1350000 |
|
Surge Arrestors |
Nos. |
NA |
400000 |
|
Insulators |
Nos. |
NA |
200000 |
* The precise installed
capacity for the manufacture of Kits/ Systems cannot be determined.
NOTES:
The figures for
installed capacity are as certified by the Management and not verified by the
auditors being a technical matter.
GENERAL INFORMATION
|
Customers : |
Manufacturer |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
600 (Approximately) |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Bankers : |
State Bank of |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Facilities : |
(a) (i) Rupee Term loan of Rs.320.000 Millions [Previous Year - Nil] from
Yes Bank Limited is secured by hypothecation of plant and machinery,
furniture and fixtures and other fixed assets, present and future located at
Halol, Gujarat (including the assets taken over from Tyco Electronics Systems
India Private Limited, Bangaluru) and equitable mortgage by deposit of title
deeds of land situated at Halol, Gujarat. (ii) Rupee Term loan of Rs.25.000 Millions [Previous Year Rs.75.000
Millions] from Barclays Bank PLC is secured by hypothecation of plant and
machinery and other movable fixed assets present and future financed by the
bank for expansion of Vasai Plant and further secured by a pari passu charge
by equitable mortgage by deposit of title deeds of land situated at Vasai. (iii) Rupee Term loan of Rs.80.000 Millions [Previous Year - Nil] from
Barclays Bank PLC is secured by hypothecation of plant and machinery and
other movable fixed assets present and future located at Vasai Plant and
further secured by a first pari passu charge by equitable mortgage by deposit
of title deeds of land situated at Vasai. (iv) Rupee Term Loan of Rs.22.857 Millions [Previous Year Rs.34.286
Millions] from Standard Chartered Bank is secured by hypothecation of plant
and machinery, furniture and fixtures and other fixed assets, present and
future located at Nalagarh, Himachal Pradesh and equitable mortgage by
deposit of title deeds of land situated at Nalagarh, Himachal Pradesh. (v) External Commercial Borrowings of Rs.98.120 Millions [Previous
Year Rs.123.188 Millions] from Standard Chartered Bank, U.K., is secured by
hypothecation of plant and machinery, furniture and fixtures and other fixed
assets, present and future located at Nalagarh, Himachal Pradesh and equitable
mortgage by deposit of title deeds of land situated at Nalagarh, Himachal
Pradesh. (b) Cash Credit of Rs.45.811 Millions [Previous Year Rs.96.863
Millions], Working Capital Demand Loans of Rs.380.000 Millions [Previous year
Rs.430.000 Millions], Pre-shipment Credit of Rs.195.341 Millions [Previous
Year Rs.68.368 Millions] and Buyers Credit Rs.60.245 Millions [Previous Year
Rs.80.286 Millions] from consortium of banks is secured by hypothecation of
raw materials, stock-in-process, finished and semi-finished goods, stores and
spares not relating to plant and machinery, bills receivables and book debts
and all other movable assets, present and future. Working capital facilities
from State Bank of
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
252, Veer Sawarkar Marg, |
|
PAN.: |
AAEFP3641G |
|
|
|
|
Enterprises
having Joint Control over the Company : |
·
Raychem International Manafucturing
LLC. (formerly known as Raychem
Radiation Technologies Inc. ·
Tyco Electronics Corporation India
Private Limited CIN No.: U31909KA1993PTC015007 ·
Tyco Electronics Systems India
Private Limited CIN No.: U29199KA1995PTC032692 ·
Tyco Electronics Tools India
Private Limited |
|
|
|
|
Subsidiary
Company : |
Raychem RPG International FZE United Arab Emirates |
|
|
|
|
Sri
Parvati Suthan Trading Company LLP and its affiliates : |
·
Carniwal Investments Limited CIN No.: U67120WB1980PLC032902 ·
Chattarpati Investments Limited ·
Universal Industrial Fund Limited ·
RPG Cellular Investments &
Holdings ·
Private Limited |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.100/- each |
Rs.50.000 Millions |
|
300000 |
12% Redeemable Preference Shares |
Rs.100/- each |
Rs.30.000 Millions |
|
|
Total |
|
Rs.80.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
300000 |
Equity Shares |
Rs.100/-
each |
Rs.30.000
Millions |
|
|
|
|
|
Note: Of the above 150000
shares are held by Raychem Technologies Inc.,
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 |
30.000 |
30.000 |
30.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1519.261 |
1025.915 |
797.270 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1549.261 |
1055.915 |
827.270 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1227.374 |
907.990 |
962.020 |
|
|
2] Unsecured Loans |
96.286 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
1323.660 |
907.990 |
962.020 |
|
|
DEFERRED TAX LIABILITIES |
10.983 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2883.904 |
1963.905 |
1789.290 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1291.834 |
855.887 |
633.640 |
|
|
Capital work-in-progress |
133.335 |
17.558 |
97.442 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
1.669 |
|
|
DEFERREX TAX ASSETS |
0.000 |
6.383 |
1.994 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
809.227
|
402.602
|
350.585
|
|
|
Sundry Debtors |
2113.768
|
1986.056
|
1569.598
|
|
|
Cash & Bank Balances |
50.041
|
2.916
|
39.266
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
533.213
|
312.074
|
215.098
|
|
Total
Current Assets |
3506.249
|
2703.648
|
2174.547
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1668.240 |
1066.611 |
771.886 |
|
|
Current Liabilities |
331.171
|
401.914
|
199.273
|
|
|
Provisions |
48.103
|
151.046
|
148.843
|
|
Total
Current Liabilities |
2047.514
|
1619.571
|
1120.002
|
|
|
Net Current Assets |
1458.735
|
1084.077
|
1054.545
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2883.904 |
1963.905 |
1789.290 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
4598.155 |
4071.490 |
|
|
|
Other Income |
|
26.348 |
27.795 |
|
|
|
TOTAL (A) |
5449.400 |
4624.503 |
4099.285 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material |
|
2856.088 |
2619.470 |
|
|
|
Sub Contracting Charges |
|
141.276 |
122.409 |
|
|
|
Excise Duty |
|
22.363 |
26.813 |
|
|
|
Operating and Other Expenses |
NA |
1020.347 |
831.618 |
|
|
|
TOTAL (B) |
|
4040.074 |
3600.310 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
584.429 |
498.975 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
NA |
75.626 |
81.256 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
357.097 |
508.803 |
417.719 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
130.827 |
81.794 |
60.228 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F)
(G) |
226.270 |
427.009 |
357.491 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.706 |
75.593 |
81.322 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H)
(I) |
223.564 |
351.416 |
276.169 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
822.284 |
628.449 |
502.742 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
105.000 |
105.000 |
|
|
|
Dividend |
0.000 |
17.439 |
17.845 |
|
|
|
Tax on Dividend |
0.000 |
35.142 |
27.617 |
|
|
BALANCE CARRIED
TO THE B/S |
1045.848 |
822.284 |
628.449 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1279.783 |
1193.819 |
1022.640 |
|
|
|
Commission Earnings |
0.000 |
0.000 |
0.680 |
|
|
|
Service Income |
0.000 |
0.000 |
2.846 |
|
|
TOTAL EARNINGS |
1279.783 |
1193.819 |
1026.166 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
822.644 |
904.013 |
665.441 |
|
|
|
Traded Products |
200.594 |
51.540 |
129.581 |
|
|
|
Capital Goods |
6.986 |
9.920 |
30.675 |
|
|
TOTAL IMPORTS |
1030.224 |
965.473 |
825.697 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
745.22 |
1171.39 |
920.56 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
4.10 |
7.59 |
6.74
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA |
9.23 |
8.78
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.71 |
11.99 |
12.73
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15 |
0.40 |
0.43
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.18 |
2.39 |
2.52
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.71 |
1.67 |
1.94
|
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors
Rs
on millions
|
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors
|
|
|
|
|
Creditors due small micro enterprises |
0.000 |
0.000 |
0.000 |
|
Creditors due others |
1668.240 |
1066.611 |
771.886 |
|
TOTAL : |
1668.240 |
1066.611 |
771.886 |
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions 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 for last three years |
Yes |
|
12) Profitability for last three years |
No |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
No |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if applicable) |
Yes |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
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 accounts filed at ROC |
-- |
|
30) Major Shareholders, if available |
-- |
OPERATIONS
The Company
achieved total revenues of Rs.5449.400 Millions during the current financial
year ended 31st March 2011 as compared to total revenues of
Rs.4624.500 Millions achieved during the previous year. The profits before tax
for the financial year were lower at Rs.226.300 Millions as against the profit
before tax of Rs.427.000 Millions during the previous year as a result of
pressure on margins higher depreciation and interest for investment in project
related expense higher level of working capital one time provision for doubtful
debts increase in operating expenses to nurture future businesses etc. The
Company has/is undertaking several business/marketing strategies product
portfolio expansion market penetration and cost reduction initiatives during
the current financial year to improve the profitability.
2. Contingent Liabilities
i. Show cause cum demand notices received from excise
authorities contested by the Company – Rs.35.630 Millions
ii. Demand notices received from sales tax authorities
contested by the Company Rs.56.736
Millions
iii. Income tax demand disputed by the Company and
against which the Company has filed an
appeal – Rs.12.438 Millions
iv. Bank guarantees outstanding (net of expired
guarantees) – Rs.995.879 Millions
Notes
(i)
During the year Company has received demand notice from sales tax authorities
of Rs.59.183 Millions for non submission of various sales tax forms with tax
authority. Based on the opinion of Company’s Sales Tax Consultant Company has
submitted required forms/ details with Tax Authority in the process of
assessment and is expecting to get the fresh order in due course. Based on
opinion there is possibility of tax liability to the extent of Rs.3.400
Millions which has been provided in the books as provision for contingency.
(ii)
Future Cashflows if any in respect of (i) to (iii) above are determinable only
on receipt of judgement/ decision pending with various forums/ authorities.
Future cash outflows in respect of (iv) are dependant on the future performance
of the obligations by the company and/or other parties.
FORM 8
|
Corporate
identity number of the company |
U74999MH1984PTC033786 |
|
Name of the
company |
RAYCHEM-RPG
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
RPG House, 463, Email Id : KGohil@raychemrpg.com |
|
This form is for |
Modification
of charge |
|
Charge
identification (ID) number of the charge to be modified |
10313016 |
|
Type of charge |
Immovable
property |
|
Particular of
charge holder |
State Bank of Email Id : sangita.p@sbi.co.in |
|
Nature of
instrument creating charge |
Memorandum of
Entry |
|
Date of instrument
Creating the charge |
29.09.2011 |
|
Amount secured by
the charge |
Rs.200.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest -- Terms of
repayment -- Margin -- Extent and operation
of the charge First and
exclusive charge |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Land situated at
Mouje Valiv, Bassein, Dist. Thane, bearing Survey No. 62, H. No. 1, Plot No.
A, admn. 21,000 sq. yards, together with buildings, structures and fixed
plant and m/c thereon Land admn. 8,397
sq. yards being portion of land bearing Plot no. A, S/No. 82, H. No. 1,
situated at Mouje Valiv, Bassein, Dist. Thane, together with buildings,
structures and fixed plant and m/c thereon |
|
Particulars of
the present modification |
The above charge
of Rs.200.000 Millions (corporate loan) further secured by equitable mortgage
created on immovable properties of the Company |
FIXED ASSETS
- Land
- Building
- Plant and Machinery
- Furniture and Fixtures
- Office Equipments
- Vehicles
- Leasehold Improvement
- Software
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.51.16 |
|
|
1 |
Rs.81.80 |
|
Euro |
1 |
Rs.68.34 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
64 |
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.