|
Report Date : |
17.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
RAMA CYLINDERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
181A, Maker Tower E, Cuffe Parade, Mumbai-400005, Maharashtra |
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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 : |
22.11.2004 |
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|
|
|
Com. Reg. No.: |
11-149620 |
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|
|
Capital
Investment / Paid-up Capital : |
Rs.228.585 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28113MH2004PTC149620 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR17236C |
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|
|
PAN No.: [Permanent Account No.] |
AACCR8653D |
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|
Legal Form : |
Private Limited Liability Company |
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|
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Line of Business
: |
Manufacturer of Cylinders. |
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|
|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 6300000 |
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|
|
Status : |
Good |
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|
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having fine track record.
Financially company performance seem to be good. Trade relations are reported
to be fair. Business is active. Payments are reported to be regular and as
per commitment. The company can be considered for normal business dealing at usual
trade terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
A2+ (Short Term Rating) |
|
Rating Explanation |
Having strong degree of safety regarding timely
payment of financial obligation it carry low credit risk. |
|
Date |
February 2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Jatin |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-22162344 |
|
Date : |
17.08.2012 |
LOCATIONS
|
Registered Office : |
181A, |
|
Tel. No.: |
91-22-22162344 |
|
Fax No.: |
91-22-22154294 |
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E-Mail : |
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|
Website : |
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|
Area : |
3000 Sq.ft. |
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
Survey No.334-P2 and 335, Village Bhimasar, Taluka Anjar, District
Kutch-370240, |
|
Tel. No.: |
91-2836-285200 |
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Fax No.: |
91-2836-285402 |
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E-Mail : |
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|
Factory 2: |
Plot No. 629 to 635, New Area of Kandla Special Economic
Zone, Gandhidham, District: Kutch – 370 230, Gujarat, India |
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|
|
|
Branches : |
Located at: ·
·
·
Kolkata ·
Dubai |
DIRECTORS
As on 28.09.2011
|
Name : |
Mr. Vashu Jiasingh Ramsinghani |
|
Designation : |
Managing Director |
|
Address : |
111, |
|
Date of Birth/Age : |
08.09.1943 |
|
Date of Appointment : |
22.11.2004 |
|
DIN No.: |
00011881 |
|
|
|
|
Name : |
Mr. Amit Vashu Ramsinghani |
|
Designation : |
Director |
|
Address : |
111, |
|
Date of Birth/Age : |
01.10.1943 |
|
Date of Appointment : |
25.01.2005 |
|
DIN No.: |
00039949 |
|
|
|
|
Name : |
Mr. Padmanabh Pundarikray Vora |
|
Designation : |
Additional Director |
|
Address : |
Flat No.503-504, 5th Floor, a Wing, Mount Everest Tower,
Bhakti Park, Wadala, Mumbai – 400037, Maharashtra, India |
|
Date of Birth/Age : |
01.10.1943 |
|
Date of Appointment : |
29.04.2008 |
|
DIN No.: |
00003192 |
|
|
|
|
Name : |
Mr. Sanjay Shridhar Mande |
|
Designation : |
Whole time Director |
|
Address : |
B-503, Neelkanth Co-op CHS, L. B. S. Marg, Near Makhamali Talao,
Thane-400601, |
|
Date of Birth/Age : |
27.05.1947 |
|
Date of Appointment : |
22.11.2004 |
|
DIN No.: |
00011895 |
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|
|
|
Name : |
Mr. Chhato Ukarmal Mangtani |
|
Designation : |
Director |
|
Address : |
B-1/7, Gautam Arcade, |
|
Date of Birth/Age : |
10.06.1941 |
|
Date of Appointment : |
25.11.2004 |
|
DIN No.: |
00011902 |
|
|
|
|
Name : |
Mr. Ramunni Menon Premkumar |
|
Designation : |
Additional Director |
|
Address : |
101, Praneet, dr. Jayant Palkar Marg, Worli, Mumbai – 400030,
Maharashtra, India |
|
Date of Birth/Age : |
16.08.1945 |
|
Date of Appointment : |
29.04.2008 |
|
DIN No.: |
00328942 |
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|
|
|
Name : |
Mr. Sanjay Ramrao Naphade |
|
Designation : |
Director |
|
Address : |
FL-7, Elite Blossom, SN. 82/4/1, Near Shriram Palace / Baner, Pune –
411007, |
|
Date of Birth/Age : |
17.05.1965 |
|
Date of Appointment : |
04.06.2010 |
|
DIN No.: |
03134050 |
KEY EXECUTIVES
|
Name : |
Mr. Jatin |
|
Designation : |
Accounts Manager |
|
|
|
|
Name : |
Prasad A. Oak |
|
Designation : |
Secretary |
|
Address : |
D/24, Om Gangeshwar Krupa, CHS, Saraswat Colony, |
|
Date of Birth/Age : |
16.05.1978 |
|
Date of Appointment : |
11.04.2008 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Vashu Jiasingh Ramsinghani |
|
539820 |
|
Sanjay Shridhar Mande |
|
180 |
|
Highrise Properties Private Limited, |
|
8536500 |
|
Rama Fininvest India Private Limited, |
|
610800 |
|
Manju Vashu Ramsighani |
|
495000 |
|
Amit Vashu Ramsighani |
|
1485000 |
|
Sonia Suraj Chhabria |
|
90000 |
|
Rama Recycling Private Limited, |
|
1476000 |
|
Rama Chemicals Private Limited, |
|
5053500 |
|
Deutsche Bank AG, |
|
6128153 |
|
|
|
|
|
Total |
|
24414953 |
Equity Share Break up (Percentage of Total Equity)
As on 28.09.2011
|
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 |
25.10 |
|
Bodies corporate |
64.21 |
|
Directors or relatives of Directors |
10.69 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Cylinders. |
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|
|
|
Exports : |
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Products : |
Cylinders |
|
Countries : |
·
Malaysia ·
Pakistan ·
Bangkok |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
China |
|
|
|
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Terms : |
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Selling : |
Cash and Credit |
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|
|
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS (31.03.2011)
|
Particulars |
Unit |
Actual
Production |
|
*Installed Capacity (per annum) |
Nos |
4,80,000 |
|
Actual Production |
Nos |
316495 |
Note: * As certified by the Management, this being a technical matter.
GENERAL INFORMATION
|
Suppliers : |
·
Metal one Stainess (Asia) Pte Limited |
||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||
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Customers : |
Wholesalers and Retailers ·
Bajaj ·
Tata |
||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||
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No. of Employees : |
500 (Approximately) |
||||||||||||||||||||||||||||||
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|
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Bankers : |
·
State Bank of India, Commercial Branch, N. G. N.
Vaidya Marg, (Bank Street) Hormiman Circle, Fort, Mumbai-400023, Maharashtra,
India ·
State Bank of ·
Canara Bank, Fort Main Branch, Warden House, Sir
P. M. Road, Fort-400001, Maharashtra, India |
||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||
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Facilities : |
(Rs. in Millions)
|
|
|
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Banking
Relations : |
-- |
|
|
|
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Auditors : |
|
|
Name : |
Haribhakti and Company Chartered Accountants |
|
Address : |
701 Leela Business Park Andheri Kurla Road, Andheri-East Mumbai –
400059, Maharashtra, India |
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PAN.: |
AAAFH2010F |
|
|
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Enterprises over
which key management personnel have significant influence: |
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|
|
|
|
Subsidiaries : |
·
Racho Precision Engineering Private Limited,
India ·
(U28113MH2010PTC206295) ·
Rama CNG Services Private Limited, India
(U40200MH2010PTC208009) |
|
|
|
|
Parties having interest in voting power of the company
that gives them significant influence over
the company : |
·
Deutsche Bank AG, Hongkong Branch ·
Rama Chemicals India Private Limited ·
Highrise Properties Private Limited |
CAPITAL STRUCTURE
As on 28.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs.250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24414953 |
Equity Shares |
Rs.10/- each |
Rs.244.150
Millions |
|
|
|
|
|
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs.250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
22858500 |
Equity Shares |
Rs.10/- each |
Rs.228.585
Millions |
|
|
|
|
|
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 |
228.585 |
228.585 |
228.585 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Share Warrant |
62.164 |
59.768 |
59.768 |
|
|
4] Reserves & Surplus |
1307.034 |
1179.903 |
1121.006 |
|
|
5] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1597.783 |
1468.256 |
1409.359 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
172.311 |
97.420 |
345.687 |
|
|
2] Unsecured Loans |
140.299 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
312.610 |
97.420 |
345.687 |
|
|
DEFERRED TAX LIABILITIES |
94.941 |
69.331 |
32.753 |
|
|
|
|
|
|
|
|
TOTAL |
2005.334 |
1635.007 |
1787.799 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
958.386 |
861.171 |
442.804 |
|
|
Capital work-in-progress |
27.597 |
38.876 |
441.246 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.164 |
0.013 |
0.013 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
759.793
|
586.622 |
668.379 |
|
|
Sundry Debtors |
274.028
|
170.457 |
164.844 |
|
|
Cash & Bank Balances |
74.714
|
65.920 |
31.037 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
174.260
|
125.982 |
112.609 |
|
Total
Current Assets |
1282.795
|
948.981 |
976.869 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
216.111
|
140.000 |
35.023 |
|
|
Other Current Liabilities |
37.478
|
65.288 |
33.146 |
|
|
Provisions |
10.296
|
9.081 |
5.356 |
|
Total
Current Liabilities |
263.885
|
214.369 |
73.525 |
|
|
Net Current Assets |
1018.910
|
734.612 |
903.344 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.277 |
0.335 |
0.392 |
|
|
|
|
|
|
|
|
TOTAL |
2005.334 |
1635.007 |
1787.779 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1459.323 |
1061.731 |
1067.121 |
|
|
|
Other Income |
NA |
16.403 |
5.803 |
|
|
|
TOTAL (A) |
NA |
1078.134 |
1072.924 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
Material Cost |
NA |
704.911 |
725.611 |
|
|
|
Increase/(Decrease) in stock |
NA |
(29.377) |
(81.012) |
|
|
|
Manufacturing and Other Expenses |
NA |
200.691 |
167.781 |
|
|
|
TOTAL (B) |
NA |
876.225 |
812.380 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
283.029 |
201.909 |
260.544 |
|
|
|
|
|
|
|
|
|
|
FINANCIAL
EXPENSES (D) |
40.565 |
43.996 |
47.523 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
242.464 |
157.913 |
213.021 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION (F) |
87.224 |
61.054 |
48.482 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
155.240 |
96.859 |
164.539 |
|
|
|
|
|
|
|
|
|
|
TAX (H) |
31.861 |
37.962 |
56.888 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
127.132 |
58.897 |
107.651 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
366.620 |
307.723 |
200.072 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
366.620 |
307.723 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
419.505 |
68.657 |
212.100 |
|
|
TOTAL EARNINGS |
419.505 |
68.657 |
212.100 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
830.027 |
404.798 |
843.842 |
|
|
|
Capital Goods |
7.463 |
0.486 |
113.337 |
|
|
TOTAL IMPORTS |
837.490 |
405.284 |
957.179 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
5.56 |
2.58 |
4.71 |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
1300.000 |
Expected Sales (2012-2013): Rs.1500.000 Millions
The above information has been parted by Mr. Jatin – Account Manager
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
5.46 |
28.68 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
10.64
|
9.12 |
15.42 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.10
|
10.21 |
16.84 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10
|
0.07 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.36
|
0.21 |
0.30 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.86
|
4.23 |
13.29 |
LOCAL AGENCY FURTHER INFORMATION
Sundry Creditors Details:
Rs. In Millions
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors |
|
|
|
|
Micro, Small and Medium Enterprise and
others |
0.000 |
0.000 |
0.000 |
|
Others |
216.111
|
140.000 |
35.023 |
|
Total |
216.111
|
140.000 |
35.023 |
|
Sr. No. |
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 |
Yes |
|
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 |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
32] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
Review of Operations
During the current
year the company could achieve sales of Rs.1459.300 Millions
as against sales of Rs.1061.700 Millions for the previous year.
Due to operating efficiencies, profit after tax has increased from Rs. 58.800 Millions in last year to Rs.127.100 Millions this year.
Outlook
The financials
year started on comparatively positive economic conditions and slightly stable
market. The Company was able to achieve growth in its top line as well as
bottom line. Sales and profits both increased and the growth was reasonable but
consistent. As per Management’s outlook for the financial year 2010-2011
expressed in last annual report, the year proved profitable and stable.
Sales
They expect total
turnover of around Rs. 1600.000 to 1800.000 Millions
for the current financial year. Domestic sales are improving and so does
exports. The Company is testing various new markets domestically and
internationally.
Exports
They have already
exported about Rs. 220.000 Millions in this FY 2011-12.
They look forward for reasonable exports for the financial year 2011-12.
Review
The financial year
2010-11 was really promising and company set up two subsidiaries. One in the
field of precision engineering OR nano engineering which has niche market and
another in the field of CNG Services. The company expects a very good growth
potential in this field and want to be first one to aggressively capture the
market. The Wind mill is giving good returns resulting in sizeable reduction in
power bill for factory.
The Company has also applied for various intellectual properties
including trademarks and Designs.
Contingent Liabilities:
i. The estimated
amounts of contracts and commitment remaining to be executed on capital account
and not provided for (net of advances) Rs. 27.110 Millions
(Previous Year: Rs. 99.350 Millions)
ii. Unexpired Letter
of Credit established in respect of Raw Materials Rs.445.636 Millions (Previous Year: Rs. 207.978 Millions)
iii. Bank
Guarantees issued by banks (net of margin money) Rs. 8.351 Millions (Previous Year : Rs. 5.457 Millions)
iv. The Company is
under obligation to export cylinders within a period of 3 years against import
of duty free raw material under advance authorization scheme, failing which the
duty liability on this account would be Rs. 1.140 Millions
(Previous Year : Nil)
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U28113MH2004PTC149620 |
|
Name of the
company |
RAMA CYLINDERS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
181A, Maker
Tower E, Cuffe Parade, Mumbai-400005, Maharashtra, India Email: prasad@ramacylinders.in |
|
This form is for
|
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
80027208 |
|
Type of charge |
Immovable
property |
|
Particular of
charge holder |
State Bank of India, Commercial Branch, N. G. N. Vaidya Marg, (Bank
Street) Hormiman Circle, Fort, Mumbai-400023, Maharashtra, India Email: kamalax_saraf@hotmail.com |
|
Nature of
instrument creating charge |
No instruments, memorandum
for deposit for modification/ extension of charge for term loan/overall
limit. |
|
Date of instrument
Creating the charge |
19.04.2011 |
|
Amount secured
by the charge |
Rs.1325.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest shall be charged on
the outstanding (s) in the accounts opened in respect of credit facilities at
such rate (s) as may be determined by the consortium banks from time to time. Terms of Repayment As stipulated by the said banks in thier sanction letter/s
and as advised from time to time. Plus service charges as are applicable to
the said facility from time to time. Margin As stipulated by the said banks in thier sanction
letter/s and as advised from time to time. Plus service charges as are applicable
to the said facility from time to time. Extent and Operation of the charge A) Existing first charge for
SBI term loans of Rs. 310.000 Millions B) Increase in second charge
from Rs. 665.000 Millions to Rs.1015.000 Millions for W C C C)By way of 2nd paripassu joint charge of mortgage on the mortgage properties in favour of SBI consortium Banks for securing the revised/modified credit facilities |
|
Short
particulars of the property or asset(s) charged (including complete address and
location of the property) |
The whole of the current
assets of the borrower namely, stocks of raw materials, stocks in process,
semi finished and finished goods, stores and spares including the cos movable
plant and machinery and other implements which are now lying or stored
in or about or shall hereinafter from time to time during the continuance of
the security of these presents After from time to time bills, receivables, and book debts and all
other movables both present and future whether now lying loose in cases or
which are now lying or stored in or about or shall herein After from time to time during the continuance of this security of
these presents be brought into or upon or be stored or be in or about of the
borrowers factories, premises and godowns and Project of the borrowers factories premises and godowns and
projectsites situated at all places in india or whereever elst the same may
be or be held by any party to the order or disposition of the Borrower or in the course of transit or on high seas or on order or
delivery, howsoever and where so ever in the possession of the borrower and
either by way of substitution or addition |
|
Date of
instrument modifying the charge |
03.02.2010 |
|
Particulars of
the present modification |
Now by the present Modfn. Dt. 19.4.2011 the
company created an extension of charge by way of an equitable mortgage by
deposit of title deeds over the immovable property created earlier on
03/02/2010 to secure the credit facilities of Rs.1325.000 Millions (i. E.
Working capital facilities by way of second charge on pari passu basis of
Rs.1015.000 Millions together with term loan by way of first charge on pari
passu basis of Rs.310.000 Millions. |
TRADE REFERENCE
·
Metal one Stainess (Asia) Pte Limited
·
Bajaj
·
Tata
FIXED ASSETS
AS PER WEBSITE DETAILS
Rama Cylinders is a company promoted by Mr. Vashu J. Ramsinghani and his son Mr. Amit V. Ramsinghani.
Subject has established manufacturing facilities for the production of high pressure seamless steel cylinders and allied products such as vessels, accumulators, tanks and pipes, etc. with installed capacity of 3,00,000 nos per annum at Unit 1 and 1,80,000 nos per annum at Unit 2.
Mr. Vashu J. Ramsinghani has considerable experience in the field of trading of industrial commodities and has set up large industries in the field of petrochemicals, fertilisers and paper. India's largest private sector, waste paper based newsprint mill viz. Rama Newsprint and Papers Limited. was also set up by him in Gujarat.
Mr. Amit V. Ramsinghani, son of Mr. Vashu J. Ramsinghani has acquired a Bachelors degree in the Business Administration from the prestigious Babson College in Boston U.S.A. specializing in finance and economics. He subsequently completed his training in the U.S.A. and the Middle East and has returned back to India. He is keenly involved in the day to day operations.
Rama Cylinders is a quality manufacturer of CNG, industrial, fire fighting cylinders and cascades of various capacities. Rama Cylinders is an ISO 9001, ISO 14001 and OHSAS 18001 certified company having two plants in Gujarat. The first is located at Bhimasar-Gandhidham and the second plant is at SEZ-Kandla.
The plants are of world-class standard and have a current installed capacity of manufacturing 4,80,000 high pressure seamless steel gas cylinders per annum.
The technology applied to produce the cylinders is hot spinning of seamless steel pipes by Computerized Numerically Controlled (CNC) machines for closing both ends and subsequently followed by other finishing processes.
The cylinders are manufactured as per IS 7285 (Part 1 and part 2), IS : 15490 in compliance with the norms of statutory authorities like Chief Controller Of Explosives (CCOE) and Bureau Of Indian Standards (BIS) with "[ISI]" mark in India. Rama Cylinders also manufactures as per international manufacturing standards like ISO 11439, NZ S 5454, ISO 9809-1, EN 1964-1 and ECE R110 (with markings certification). Also Pi l CE marking showing compliance with TPED/PED.
The company is member of Fire Protection Association of India (FPAI), Gas Manufacturer's Society (GMS), All India Industrial Gas Manufacturers Association (AIIGMA), Natural Gas Vehicle Association of India (NGVAI) and ASIAN NGV Association (ANGVA).
Rama Cylinders is regularly exporting cylinders to countries like Iran, Pakistan, Bangladesh, Thailand, Russia, Malaysia, Armenia, Myanmar and Algeria.It is also supplying to domestic automobile OEMs such as Tata Motors, Mahindra and Mahindra, Force Motors, Bajaj Auto, JCBL Limited., Hindustan Motors Limited., TVS Motors apart from local retrofitment sector in India.
Rama Cylinders also supplies CNG storage cascades ranging from 1000 ltrs to 4500 ltrs or as per specific requirement of customers in single bank or three bank system. Rama Cylinders has on their list of valued customers Mahanagar Gas Limited., Adani Gas Limited, Burckhardt Compressions Limited., Atlas Copco, Gujarat Gas Company Limited., Gail Gas Limited., Bhagyanagar Gas Limited., Haryana City gas distribution Limited. And GSPC Gas Company Limited.
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 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.55.98 |
|
|
1 |
Rs.87.55 |
|
Euro |
1 |
Rs.68.68 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
51 |
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.