MIRA
INFORM REPORT
|
Report Date : |
03.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
RAJATMETAAL POLYCHEM PRIVATE LIMITED |
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Registered
Office : |
26/4, F.F., Onkar Nagar-B, Trinagar, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
11.09.2009 |
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Com. Reg. No.: |
55-194186 |
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Capital
Investment / Paid-up Capital : |
Rs.1.950 millions |
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CIN No.: [Company Identification
No.] |
U74900DL2009PTC194186 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELR18425B |
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PAN No.: [Permanent Account No.] |
AAECR5560R |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Importers, Exporters, Purchasers Stockiest Dealers and Agents of
Metals and Polymers. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 20000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject has been taken over the running business of Rajat Metal
Company, a proprietory concern. It is an established company having moderate track. Profitability of
the company appears to be low. However, trade relations are reported as fair.
Business is active. Payments are reported to be slow. The company can be considered for business dealings with some
cautions. |
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
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
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Registered Office : |
26/4, F.F., Onkar Nagar-B, Trinagar, |
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Tel. No.: |
91-11-27386197 |
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Fax No.: |
Not Available |
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E-Mail : |
DIRECTORS
As on 03.09.2011
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Name : |
Mr. Rajat Gupta |
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Designation : |
Chairman cum Managing Director |
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Address : |
R-7, Gopal Park, Azadpur, |
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Date of Birth/Age : |
21.08.1977 |
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Date of Appointment : |
11.09.2009 |
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DIN No.: |
02720936 |
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Name : |
Ranu Gupta |
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Designation : |
Director |
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Address : |
R-7, Gopal Park, Azadpur, |
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Date of Birth/Age : |
21.06.1980 |
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Date of Appointment : |
11.09.2009 |
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DIN No.: |
02730324 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 03.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Rajat Gupta |
|
108450 |
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Ranu Gupta |
|
27000 |
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Kanika Gupta |
|
1400 |
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Rajendra Prasad Gupta |
|
23660 |
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Sharda Gupta |
|
3600 |
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Rajendra Prasad Gupta, HUF |
|
15280 |
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Rajat Gupta, HUF |
|
15640 |
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Total |
|
195030 |
As on 03.09.2011
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Equity Share Breakup |
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Percentage of Holding |
|
Category |
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Directors
or relatives of directors |
|
100.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Importers, Exporters, Purchasers Stockiest Dealers and Agents of
Metals and Polymers. |
GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
Axis Bank Limited 4/10, OPG House, |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
V. Mohan and Associates Chartered Accountants |
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Address : |
B. J. West, 103 Shalimar Bagh, |
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Tel. No.: |
91-11-27473229 |
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Mobile No.: |
91-98115971241 |
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E-Mail : |
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PAN No.: |
AAEPA9223F |
CAPITAL STRUCTURE
As on 03.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000 |
Equity Shares |
Rs.10/- each |
Rs.2.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
195030 |
Equity Shares |
Rs.10/- each |
Rs.1.950
millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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1.950 |
0.100 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
|
3.022 |
0.000 |
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4] (Accumulated Losses) |
|
0.000 |
(0.023) |
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NETWORTH |
|
4.972 |
0.077 |
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LOAN FUNDS |
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1] Secured Loans |
|
10.876 |
0.000 |
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2] Unsecured Loans |
|
4.426 |
0.162 |
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TOTAL BORROWING |
|
15.302 |
0.162 |
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DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
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TOTAL |
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20.274 |
0.239 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
1.028 |
0.000 |
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Capital work-in-progress |
|
0.000 |
0.000 |
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INVESTMENT |
|
0.266 |
0.000 |
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DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
0.000 |
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Sundry Debtors |
|
25.067 |
0.000 |
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Cash & Bank Balances |
|
0.385 |
0.186 |
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Other Current Assets |
|
1.659 |
0.000 |
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Loans & Advances |
|
0.229 |
0.006 |
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Total
Current Assets |
|
27.340 |
0.192 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
|
8.152 |
0.000 |
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Other Current Liabilities |
|
0.251 |
0.000 |
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Provisions |
|
0.000 |
0.003 |
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Total
Current Liabilities |
|
8.403 |
0.003 |
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Net Current Assets |
|
18.937 |
0.189 |
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MISCELLANEOUS EXPENSES |
|
0.043 |
0.050 |
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TOTAL |
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20.274 |
0.239 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2011 |
31.03.2010 |
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SALES |
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Sales |
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129.744 |
0.000 |
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Interest Income |
|
0.060 |
0.000 |
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TOTAL |
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129.804 |
0.000 |
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Less |
EXPENSES |
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Cost of Sales |
|
121.436 |
0.000 |
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Custom Duty |
|
4.748 |
0.000 |
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Inland Haulage Charges |
|
1.233 |
0.000 |
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Local Freight and Cartage |
|
0.086 |
0.000 |
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Audit Fees |
|
0.008 |
0.003 |
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Bank Charges and Interest |
|
0.691 |
0.001 |
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Preliminary Expenses Write Off |
|
0.007 |
0.007 |
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Rent Rate and Taxes |
|
0.053 |
0.012 |
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Directors Remuneration |
|
0.450 |
0.000 |
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Salary |
|
0.180 |
0.000 |
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Loss on sale of car |
|
0.030 |
0.000 |
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Other Expenditure |
|
0.591 |
0.000 |
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TOTAL |
|
129.513 |
0.023 |
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PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
0.291 |
(0.023) |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
|
0.022 |
0.000 |
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PROFIT/(LOSS)
BEFORE TAX |
|
0.269 |
(0.023) |
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KEY RATIOS
|
PARTICULARS |
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|
31.03.2011 |
31.03.2010 |
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Net Profit Margin (PBT/Sales) |
(%) |
|
0.21 |
0.00 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
|
0.95 |
(11.98) |
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Return on Investment (ROI) (PBT/Networth) |
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|
0.05 |
(0.30) |
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Debt Equity Ratio (Total Liability/Networth) |
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|
4.77 |
2.14 |
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Current Ratio (Current Asset/Current Liability) |
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|
3.25 |
64.00 |
LOCAL AGENCY FURTHER INFORMATION
NOTE
The Registered Office of the company has been shifted from R-7,
BUSINESS ACTIVITY
The company has taken over the business of M/S Rajat metal Company, R-7,
Gopal Park, Azadpur, Delhi – 110 033 as on 31st May 2010. Now the
Company is engaged in the business of
Metals and Polymers.
FORM 8
|
Corporate identity number of the company |
U74900DL2009PTC194186 |
|
Name of the company |
RAJATMETAAL POLYCHEM PRIVATE LIMITED |
|
Address of the registered office or of the principal place
of business in |
26/4, F.F., Onkar Nagar-B, Trinagar, |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be
modified |
10224961 |
|
Type of charge |
·
Book debts ·
Movable property (not being pledge) |
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Particular of charge holder |
Axis Bank Limited 4/10, OPG House, E-Mail : f8.axisbank@gmail.com |
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Nature of instrument creating charge |
Composite
Hypothecation Deed (Current Assets, Movables, Plant and
Machinery) |
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Date of instrument Creating the charge |
11.10.2011 |
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Amount secured by the charge |
Rs.30.000 millions |
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Brief of the principal terms an conditions and extent and
operation of the charge |
Rate of Interest As per sanction letter No. AXISB/NDZO/SME/2011-12/8464
dated 27.09.2011 to be amended from time to time. Terms of Repayment As per sanction letter No. AXISB/NDZO/SME/2011-12/8464
dated 27.09.2011 to be amended from time to time. Margin As per sanction letter No. AXISB/NDZO/SME/2011-12/8464
dated 27.09.2011 to be amended from time to time. Extent and Operation of the charge Extent and Operation - 100% Others The above is to secure the following :- Cash Credit = Rs.30.000 millions LC (sub limit of CC) = (Rs.30.000 millions) Buyer's Credit (sub limit of CC) = (Rs.30.000 millions) |
|
Short particulars of the property or asset(s) charged
(including complete address and location of the property) |
Hypothecation by way of first and exclusive charge over
all present and future current assets and movable fixed assets of the company
(except vehicles) stored or to be stored at the company's godowns or premises
or wherever else the same may be. |
|
Particulars of the present modification |
Bank's first and exclusive charge over all present and
future current assets and movable fixed assets of the company (except
vehicles) stored or to be stored at the company's godowns or premises or
wherever else the same may be, already registered for Rs.17.500 millions
shall stand enhanced to Rs.30.000 millions . |
FIXED ASSETS
·
Air Conditioner
·
Car 1 – Santro
·
Car 2 – Swift
·
Computer
·
Fax
·
Furniture and Fixture
·
Land and Building
·
Scale
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.53.29 |
|
|
1 |
Rs.82.66 |
|
Euro |
1 |
Rs.68.90 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
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 |
4 |
|
--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 |
|
28 |
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.