|
Report Date : |
05.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
RAJDHANI CRAFTS INDUSTRIES PRIVATE LIMITED |
|
|
|
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Registered
Office : |
A – 187, Road No.6, V.K.I. Area, Jaipur – 302013, Rajasthan |
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Country : |
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|
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
23.12.2009 |
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Com. Reg. No.: |
17-030577 |
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|
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Capital
Investment / Paid-up Capital : |
Rs.10.000 millions |
|
|
|
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CIN No.: [Company Identification
No.] |
U36998RJ2009PTC030577 |
|
|
|
|
IEC No.: |
1309018197 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
JPRR05700C |
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|
|
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PAN No.: [Permanent Account No.] |
AAECR5654E |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Wooden Furniture |
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|
|
No. of Employees
: |
150 Approximately |
RATING & COMMENTS
|
MIRA’s Rating : |
B [26] |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 592600 |
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|
|
|
Status : |
Recently Commenced Business |
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|
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Though the company was incorporated in the year 2009, it has commenced
its business activities recently from June 2011. Business is active. Payments
are unknown. 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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
|
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. Manoj |
|
Designation : |
Accounts Manager |
|
Contact: |
91-8058790303 |
|
Date : |
03.04.2012 |
LOCATIONS
|
Registered Office /Factory : |
A – 187, Road No.6, V.K.I. Area, Jaipur – 302013, |
|
Tel. No.: |
91-141-2261571 |
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Mobile No.: |
91-8058790303 [Mr Sameer Agarwal] |
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E-Mail : |
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Web Site: |
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Location : |
Owned |
|
|
|
|
Branch 1 : |
Plot No.E147 To 156, Rico Industrial Area, Manda, Choumu, Jaipur –
303712, |
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|
|
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Branch 2 : |
E.21 to E.28 and F.29 to F.40, Rico Industrial Area, Manda, Chuomu, Jaipur
– 303712, |
DIRECTORS
AS ON 29.09.2011
|
Name : |
Mr. Samir Agarwal |
|
Designation : |
Director |
|
Address : |
6/403, Vidhyadhar Nagar, Jaipur – 302021, |
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Date of Birth/Age : |
30.08.1970 |
|
Date of Appointment : |
23.12.2009 |
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DIN : |
01129208 |
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|
|
|
Name : |
Mr. Sudhir Kumar Agarwal |
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Designation : |
Director |
|
Address : |
H. No.54-55, Shiv Vihar Colony, Road No.5, VKI, Jaipur – 302013, |
|
Date of Birth/Age : |
06.02.1967 |
|
Date of Appointment : |
23.12.2009 |
|
DIN : |
01674161 |
KEY EXECUTIVES
|
Name : |
Mr. Manoj |
|
Designation : |
Commercial Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2011
|
Names of Shareholders |
No. of Shares |
|
Samir Agarwal |
140000 |
|
Sudhir Kumar Agarwal |
500000 |
|
Kiran Agarwal |
360000 |
|
Total |
1000000 |
AS ON 29.09.2011
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Wooden Furniture |
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Exports : |
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Products : |
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|
Countries : |
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Imports : |
|
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Products : |
·
Raw Material |
|
Countries : |
·
Germany ·
Sri Lanka ·
Malaysia ·
Netherlands |
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|
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Terms : |
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Selling : |
L/C |
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Purchasing : |
L/C |
GENERAL INFORMATION
|
Customers : |
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|
|
|
|
No. of Employees : |
150 Approximately |
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|
|
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Bankers : |
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|
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Facilities : |
-- |
|
|
|
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
JSM and Company Chartered Accountant |
|
Address : |
G-1, Gajraj Apartments, C-68, Sarojini Marg, C-Scheme, Jaipur -
302001, Rajasthan, India |
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Tel. No.: |
91-141-2365549 / 4015009 |
|
E-Mail : |
CAPITAL STRUCTURE
AS ON 29.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,000,000 |
Equity Shares |
Rs.10/-each |
Rs.10.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,000,000 |
Equity Shares |
Rs.10/-each |
Rs.10.000 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
Particulars |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
10.000 |
5.541 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
138.150 |
48.968 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
148.150 |
54.509 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
168.746 |
101.074 |
|
|
2] Unsecured Loans |
|
15.000 |
0.000 |
|
|
TOTAL BORROWING |
|
183.746 |
101.074 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
|
331.896 |
155.583 |
|
|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
282.339 |
144.939 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.004 |
0.003 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
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|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
26.136 |
2.699 |
|
|
Sundry Debtors |
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
|
5.774 |
0.271 |
|
|
Other Current Assets |
|
16.974 |
7.009 |
|
|
Loans & Advances |
|
7.023 |
1.685 |
|
Total
Current Assets |
|
55.907 |
11.664 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
6.481 |
0.063 |
|
|
Other Current Liabilities |
|
1.713 |
1.504 |
|
|
Provisions |
|
0.000 |
0.000 |
|
Total
Current Liabilities |
|
8.194 |
1.567 |
|
|
Net Current Assets |
|
47.713 |
10.097 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
1.840 |
0.544 |
|
|
|
|
|
|
|
|
TOTAL |
|
331.896 |
155.583 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2011 |
31.03.2010 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
1.29 |
1.86 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
6.82 |
128.81 |
LOCAL AGENCY FURTHER INFORMATION
FINANCIAL RESULTS
:
The financial results during the period are being furnished, as the activities
of the company are related to the pre-commencement of the business. All the
expenses have been grouped under “Capital Work-in-Progress” and to be
capitalized after commencement of the business .
OPERATIONAL REVIEW
:
During the period the company has not commenced the business.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U36998RJ2009PTC030577 |
|
Name of the
company |
RAJDHANI CRAFTS INDUSTRIES PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
A – 187, Road No.6, V.K.I. Area, Jaipur – 302013, Rajasthan, India |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable
property Book debts Movable property
(not being pledge) |
|
Particular of
charge holder |
Punjab National Bank, Mid Corporate Branch, Email: bo0221@pnb.co.in |
|
Nature of
instrument creating charge |
1.Memorandum of
Entry for creation of Equitable Mortgage. 2.Board
Resolution. |
|
Date of
instrument Creating the charge |
08.08.2011 |
|
Amount secured by
the charge |
Rs. 122.500
millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest on Packing Credit
@ BR+0.75% at present 9.25% P. A., On FOBP/FOBNLC as Applicable to export
Finance with monthly rests subject to change from time to time. Terms of repayment Repayable on
demand Margin On Packing Credit
(Hypothecation)/PCFC-25% Inland letter
of Guarantee -20% ILC/FLC(DA/DP)-20%
FLC(Capital
Goods) -20%. Extent and operation of the charge This charge is for
creation of equitable mortgage on company's new immovable property situated
at Plot No.E-147 to E-156 and E-160 to E-169 and Plot no.E-21 to E-28, F-29
to F- 40, RIICO Industrial Area, Manda,(Chomu) Jaipur to cover various
working capital limits of Rs.122.500 millions granted to the company by the
bank. Other Commission on ILG
and ILC - As per banks Norms |
|
Short particulars
of the property charged (Including location of the property) |
Equitable
Mortgage is created on immovable property of the company comprising land and
building constructed or to be constructed,Fixed plant and machinery, erected
or to be erected both present and future situated at Plot No.E-147 to E-156,
E-160 to E-169 and Plot no.E-21 to E-28, F-29 to F-40, RIICO Industrial Area,
Manda,(Chomu) Jaipur to secure various Working Capital limits of Rs.122.500
millions granted to the company by the
Bank. First charge by
way of hypothecation of all stocks of raw material, stock in process,
finished goods of wooden furniture,
consumables, stock laying in the Company's work, with Contractors,
Sub-contractors and in transit, of
Machinery deposit of Confirmed orders and/or the original Confirmed Irrevocable LCs of Approved foreign banks or any other
Security acceptable to the bank under the various Agreement executed by
Company in favour of the bank. first Charge on entire Current Assets present
and future, including entire Book loans and advances, other fixed and block
assets purchased out of the loan given by the bank Counter indemnity given by
the Company and shipping Documents
including Bills of lading covering imported raw material/stores/ spares along
with insurance and
other usual Documents and DA/
DP Bills accompained by RRS/ MTRs of approved transport Companies
Covering purchase of Rawmaterial/
Stores/spare to cover the various credit facilities of Rs.122.500 millions. The above
security also covers Term Loan of Rs.226.222 millions including FLC of
Rs.40.000 millions. |
|
Particulars of
the present modification |
By this modification
Equitable mortgage is created on company's new immovable property comprising
land and building constructed or to be constructed, Fixed plant and
machinery, erected or to be erected both present and future situated at Plot
No.E-147 to E-156, E-160 to E-169 and Plot no.E-21 to E-28, F-29 to F-40,
RIICO Industrial Area, Manda, Jaipur to secure the working Capital limits of
Rs.122.500 millionss granted to the company by the Bank. Other terms and
condition remain unchanged. |
FIXED ASSETS :
|
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 |
No |
|
12) Profitability for last three years |
No |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
No |
|
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
involved in |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
-- |
|
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 |
-- |
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 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.51.04 |
|
|
1 |
Rs.81.09 |
|
Euro |
1 |
Rs.67.39 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
26 |
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.