|
Report Date : |
14.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
RAJHANS FABRICATION PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
B-32, Additional MIDC Area, Ambar, Nashik – 422010, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
10.02.1993 |
|
|
|
|
Com. Reg. No.: |
11-070747 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28900MH1993PTC070747 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
NSKR00657G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Control Panel. |
|
|
|
|
No. of Employees
: |
125 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 50000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
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|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having satisfactory track records.
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.
INFORMATION PARTED BY
|
Name : |
Mr. Rahul |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-253-6697446 |
|
Date : |
13.02.2012 |
LOCATIONS
|
Registered Office/ Factory : |
B-32, Additional MIDC Area, Ambar, Nashik – 422010, Maharashtra, India |
|
Tel. No.: |
91-253-6697446 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Location : |
Owned |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Deodatta Roopchand Narkhede |
||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||
|
Address : |
Star Villa, Ushakiran Housing Society, Trimbak Road, Untwadi, Nashik –
422002, Maharashtra, India |
||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
23.09.1983 |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
16.04.2007 |
||||||||||||||||||||||||||||||||
|
DIN No.: |
00358129 |
||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||
|
Name : |
Mr. Roopchand Ramdas Narkhede |
||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||
|
Address : |
Star Villa, Ushakiran Housing Society, Trimbak Road, Untwadi, Nashik –
422002, Maharashtra, India |
||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
12.07.1943 |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
10.02.1993 |
||||||||||||||||||||||||||||||||
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DIN No.: |
00358276 |
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Other Directorship :
|
|||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||
|
Name : |
Mr. Manoj Roopchand Narkhede |
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|
Designation : |
Director |
||||||||||||||||||||||||||||||||
|
Address : |
Star Villa, Ushakiran Housing Society, Trimbak Road, Untwadi, Nashik –
422002, Maharashtra, India |
||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
04.06.1976 |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
31.03.2006 |
||||||||||||||||||||||||||||||||
|
DIN No.: |
00358411 |
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Other Directorship :
|
|||||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||||
|
Name : |
Mr. Shailesh Roopchand Narkhede |
||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||
|
Address : |
Star Villa, Ushakiran Housing Society, Trimbak Road, Untwadi, Nashik –
422002, Maharashtra, India |
||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
17.08.1974 |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
31.03.2006 |
||||||||||||||||||||||||||||||||
|
DIN No.: |
00358517 |
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Other Directorship :
|
|||||||||||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Roopchand Ramdas Narkhede |
5245 |
|
Shailesh Roopchand Narkhede |
1585 |
|
Manoj Roopchand Narkhede |
1585 |
|
Deodatta Roopchand Narkhede |
1585 |
|
Total |
10000
|
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2011
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Control Panel. |
|
|
|
|
Exports : |
|
|
Products : |
Control Panel |
|
Countries : |
Australia |
|
|
|
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Terms : |
|
|
Selling : |
L/C/ Cash/ Credit (30 days) |
|
|
|
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Purchasing : |
Cash/ Credit (30 days) |
GENERAL INFORMATION
|
Suppliers : |
·
Akarahan
Enterprises ·
A.K.EIectricals ·
Akshaj
Enterprises ·
APT Controls and
Appliances Private Limited ·
ARC India Private
Limited ·
Ashtavinayak
Enterprises ·
Atharva Traders ·
Automatic
Electric Limited ·
Atul Agencies ·
Balrajeshwar
Engineering Company ·
Bhanu Engineering
Works ·
Bharati - AHS
Powertech Private Limited ·
Central
Electhcals and Electronics Private Limited ·
Duregsh
Enterprises ·
Electro
Enterprise ·
Elmex Controls
(Private) Limited ·
EPIC Agency ·
FTS Electricals
Private Limited ·
Galaxy Services ·
Gilbert and
Maxwell Transformers (Private) Limited ·
Hari Om
Technocrats ·
Hi-Tech Services ·
Indcoil
Transformers Private Limited ·
J K Engineers ·
Industrial
Services |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Customers : |
Wholesalers, OEM’s and Manufacturer ·
ABB Limited ·
Amada India
Private Limited ·
Kivash
Engineering Private Limited ·
Rishi Laser ·
ASP Sealing
Product Limited ·
Star House ·
Unique
Enterprises · JSW steel Limited |
||||||||||||||||||||||||
|
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|
||||||||||||||||||||||||
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No. of Employees : |
125 (Approximately) |
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
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Bankers : |
The Saraswat co-operative Bank Limited, Mahatma Nagar Branch, Opposite
Ganpati Mandir, Mahatma Nagar, Nashik – 422007, Maharashtra, India |
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
R. S. Deshpande and Company Chartered Accountants |
|
Address : |
19, Jondhale Complex, Opposite Kulkarni Garden, Sharanpur Road, Nashik
– 422002, Maharashtra, India |
|
PAN.: |
AAUPD1195Q |
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.100/- each |
Rs.1.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.100/-
each |
Rs.1.000
Million |
|
|
|
|
|
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 |
1.000 |
1.000 |
1.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
7.181 |
3.779 |
1.619 |
|
|
4] (Accumulated Losses) |
5.815 |
3.401 |
3.460 |
|
|
NETWORTH |
13.996 |
8.180 |
6.079 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
34.190 |
18.186 |
1.131 |
|
|
2] Unsecured Loans |
0.000 |
0.301 |
0.392 |
|
|
TOTAL BORROWING |
34.190 |
18.487 |
1.523 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
48.186 |
26.667 |
7.602 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
28.823 |
22.141 |
5.024 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.075 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
3.265 |
3.550 |
4.533 |
|
|
Sundry Debtors |
31.903
|
5.311 |
4.763 |
|
|
Cash & Bank Balances |
1.331
|
1.338 |
1.850 |
|
|
Other Current Assets |
22.020
|
0.123 |
0.000 |
|
|
Deposits & Advances |
2.984
|
1.703 |
2.310 |
|
Total
Current Assets |
61.503
|
12.025 |
13.456 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
19.215 |
6.386
|
10.554 |
|
|
Other Current Liabilities |
22.268 |
0.000
|
0.000 |
|
|
Provisions |
0.735 |
1.116
|
0.327 |
|
Total
Current Liabilities |
42.218
|
7.502 |
10.881 |
|
|
Net Current Assets |
19.285
|
4.523 |
2.575 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.003 |
0.003 |
0.003 |
|
|
|
|
|
|
|
|
TOTAL |
48.186 |
26.667 |
7.602 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
|
TOTAL INCOME
|
123.058 |
65.875 |
78.452 |
|
|
|
|
|
|
|
|
NET PROFIT |
5.815 |
3.401 |
3.460 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
581.50 |
-- |
-- |
Expected Sales (2011-12): Rs.200.000 Millions
The above information has been parted by Mr. Rahul.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
4.73
|
5.16 |
4.41 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.44
|
9.95 |
18.72 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.42
|
0.42 |
0.56 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.46
|
3.18 |
2.04 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.46
|
1.60 |
1.24 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
(Rs.
In Millions)
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors |
19.215 |
6.386
|
10.554 |
|
Total |
19.215 |
6.386
|
10.554 |
|
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 two years |
No |
|
12) Profitability for last three years |
No |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
Yes |
|
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 |
-- |
|
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 |
-- |
FINANCIAL RESULTS
The Company has achieved
the Gross Income from Sales, Job Work and other Income is Rs.123.058 Millions
as compared to Rs.6,58.75,120/- for the previous year and earned a Net Profit
of Rs.5.815 Millions as compared to Rs.3.401 Millions for the previous year.
FORM 8
|
Corporate
identity number of the company |
U28900MH1993PTC070747 |
|
Name of the
company |
RAJHANS
FABRICATION PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
B-32, Additional MIDC Area, Ambar, Nashik – 422010, Maharashtra, India Email Id : bwbadhan@gmail.com |
|
This form is for |
Creation
of charge |
|
Type of charge |
Movable property
(not being pledge) |
|
Particular of
charge holder |
The Saraswat co-operative Bank Limited, Mahatma Nagar Branch, Opposite
Ganpati Mandir, Mahatma Nagar, Nashik – 422007, Maharashtra, India Email Id : mb_desai@saraswatbank.com |
|
Nature of instrument
creating charge |
Hypothecation
Agreement |
|
Date of
instrument Creating the charge |
06.09.2011 |
|
Amount secured by
the charge |
Rs.0.910 Million |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest @ 10.50%
p. a. Terms of
repayment Repayment period
: 36 months, installment of Rs.0.030 Million commencing from 01-10-2011 Margin As per bank norms Extent and
operation of the charge Vehicle loan as
per bank norms from time to time |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation of
Tata Safari |
FIXED ASSETS
·
Land
·
Machinery
·
Building
·
Tools and Dies
·
Electrical Installation
·
Scooter
·
Computer
·
Eicher Vehical
·
Furniture
·
Office Equipment
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] 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.49.32 |
|
|
1 |
Rs.77.84 |
|
Euro |
1 |
Rs.65.35 |
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 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
43 |
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.