MIRA
INFORM REPORT
|
Report Date : |
24.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
RUBBER LINKERS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
G-15, Site No.1, Panki Industrial Area, Kanpur-208022, Uttar Pradesh |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
05.11.2008 |
|
|
|
|
Com. Reg. No.: |
20-036251 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 0.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25190UP2008PTC036251 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter, Importer, Supplier and Trader of Raw rubber, rubber rolls for rice mills |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (16) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a small company in it’s field. It’s scale of activities are
limited. Profitability is under pressure. There appears some accumulated losses
recorded by the company. However, trade relations are reported as fair.
Business is active. Payments are reported to be slow. The company can be considered for business dealings on a secured trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office / Works : |
G-15, Site No.1, Panki Industrial Area, Kanpur-208022, Uttar Pradesh,
India |
|
Tel. No.: |
91-512-2692074 / 3271162 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Admin Office : |
133/P-1/8, Transport Nagar, Kanpur-208023, Uttar Pradesh, India |
|
Tel. No.: |
91-512-2640104 / 3240618 |
|
Fax No.: |
91-512-2600618 |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Neenu Philip |
|
Designation : |
Director |
|
Address : |
133/P-1/8, Transport Nagar, Kanpur-208001, Uttar Pradesh, India |
|
Date of Appointment : |
05.11.2008 |
|
DIN No.: |
02291631 |
|
|
|
|
Name : |
Mariamma Philip |
|
Designation : |
Director |
|
Address : |
6/24-A Parwati Bagla Road, Kanpur-208001, Uttar Pradesh, India |
|
Date of Appointment : |
05.11.2008 |
|
DIN No.: |
02291670 |
|
|
|
|
Name : |
Mr. Moriya Philip |
|
Designation : |
Director |
|
Address : |
6/24-A Parwati Bagla Road, Kanpur-208001, Uttar Pradesh, India |
|
Date of Appointment : |
05.11.2008 |
|
DIN No.: |
02291881 |
|
|
|
|
Name : |
Mr. Varkey Philip |
|
Designation : |
Director |
|
Address : |
133/P-1/8, Transport Nagar, Kanpur-208001, Uttar Pradesh, India |
|
Date of Appointment : |
05.11.2008 |
|
DIN No.: |
02291912 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Neenu Philip |
2500 |
|
Marriama Philip |
2500 |
|
Moriya Philip |
2500 |
|
Varkey Philip |
2500 |
|
Total |
10000 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter, Importer, Supplier and Trader of Raw rubber, rubber rolls for rice mills |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Rubber Rolls |
Paris P.A. |
15000 |
5618 |
|
Rubber Polishers |
Pcs P.A. |
125000 |
50905 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Bankers : |
The Federal Bank Limited, 24/11, The Mall Kanpur-208001, Uttar
Pradesh, India |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
Citicorp Finance India Limited, 402-403, REmbrandi, Near Panchwati
Circle, C. G. Road, Ahmedabad, Gujarat, India |
|
|
|
|
Auditors : |
|
|
Name : |
J. N. Sharma and Company Chartered Accountant |
|
Address : |
58/4, Birhana Road, Kanpur-208001, Uttar Pradesh, India |
|
Pan No.: |
AAAFJ6568N |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs. 5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs. 0.100
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 |
0.100 |
0.100 |
0.100 |
|
|
2] Share Application Money |
1.500 |
1.500 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(2.309) |
(0.335) |
0.000 |
|
|
NETWORTH |
(0.709) |
1.265 |
0.100 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
10.002 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
16.564 |
15.449 |
3.504 |
|
|
TOTAL BORROWING |
26.566 |
15.449 |
3.504 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
25.857 |
16.714 |
3.604 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
10.958 |
9.614 |
0.000 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
3.776 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.815 |
0.150 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
11.133
|
6.494 |
0.121 |
|
|
Sundry Debtors |
5.794
|
2.678 |
0.000 |
|
|
Cash & Bank Balances |
0.255
|
0.470 |
0.183 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
0.574
|
0.447 |
0.142 |
|
Total
Current Assets |
17.756
|
10.089 |
0.446 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
|
|
|
Other Current Liabilities |
|
|
|
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
3.720
|
3.211 |
0.992 |
|
|
Net Current Assets |
14.036
|
6.878 |
(0.546) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.048 |
0.072 |
0.374 |
|
|
|
|
|
|
|
|
TOTAL |
25.857 |
16.714 |
3.604 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
0.000 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
16.953 |
7.702 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
19.591 |
8.188 |
0.000 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
(2.638) |
(0.486) |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(0.665) |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
(1.973) |
0.000 |
0.000 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
(11.64)
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(8.93)
|
(2.45) |
0.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
3.72
|
(0.38) |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
(42.72)
|
14.75 |
44.96 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.77
|
3.14 |
0.45 |
LOCAL AGENCY FURTHER INFORMATION
FINANCIAL RESULTS
The company has achieved a turnover of Rs. 16.953 Millions during the
year.
FORM 8
|
Corporate identity
number of the company |
U25190UP2008PTC036251 |
|
Name of the
company |
Rubber Linkers
India Private Limited |
|
Address of the
registered office or of the principal place of business in |
G-15, Site No.1, Panki Industrial Area, Kanpur-208022, Uttar Pradesh, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Immovable
property Movable property
(not being pledge) |
|
Particular of
charge holder |
The Federal Bank Limited, 24/11, The Mall Kanpur-208001, Uttar Pradesh, India |
|
Nature of
instrument creating charge |
Term Loan
Agreement dated 25th November, 2010, Agreement for
Hypothecation of Plant and Machinery as Additional Security. |
|
Date of instrument
Creating the charge |
25.11.2010 |
|
Amount secured by
the charge |
Rs. 2.500
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest 5.25% above base
rate of the bank as fixed by the bank from time to time with monthly rests.
Present base rate of bank is 8% p.a. Terms of repayment Repayable in 84
monthly installments of Rs. 0.035 Million each commencing from 25.11.2011.
The repayment shall attract 2% of prepayment amount. Margin 25% Extent and operation of the charge The Charge
Operates to cover entire amount financed by the bank together with interests,
charges, costs etc. |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation of
plant and machinery such as mixing mills, Kneader Machines, Wrapping
machines, Machines Boilers, Dies and moulds etc. installed and to be
installed at factory premises of the company. |
FIXED ASSETS
·
Factory Building
·
Plant and Machinery
·
Fire Fighting Equipments
·
Tools and Equipments
·
Weighting Scale
·
Air Conditioner
·
Computer
·
Furniture and Fixtures
·
Office Equipments
·
Motor Car
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. 49.24 |
|
|
1 |
Rs. 77.18 |
|
Euro |
1 |
Rs. 65.29 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
-- |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
16 |
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.