MIRA
INFORM REPORT
|
Report Date : |
07.01.2012 |
IDENTIFICATION DETAILS
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Name : |
RAJVIR INDUSTRIES LIMITED |
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Registered
Office : |
1st Floor, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
01.09.2004 |
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Com. Reg. No.: |
01-044053 |
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Capital
Investment / Paid-up Capital : |
Rs.30.350 Millions |
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CIN No.: [Company Identification
No.] |
L17116AP2004PLC044053 |
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Legal Form : |
A Public Limited Liability company. The company’s Share are Listed on
the Stock Exchange. |
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Line of Business
: |
Manufacturer of Yarn. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 2200000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. 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.
ECGC Country Risk Classification List – September 30, 2011
|
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 : |
1st Floor, |
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Tel. No.: |
91- 40-27845628/ 27846841/ 27845650/
27891834/ 27891835/ 66225555 |
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Fax No.: |
91- 40-27840656 |
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E-Mail : |
cs@rajvirindustrieslimited.com rajvir@rajvirindustrieslimited.com export@rajvirindustrieslimited.com marketing@rajvirindustrieslimited.com |
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Website : |
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Sales Depot : |
Located at
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Depot : |
Located at
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Unit 1 : |
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Tel. No.: |
91-8542-242847 / 242347 |
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Fax No.: |
91-8542-242147 |
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E-Mail : |
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Unit 2 : |
17A, 20 B, |
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Tel. No.: |
91-8411-320040 / 281998 |
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E-Mail : |
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Unit 3 : |
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DIRECTORS
As on 31.03.2011
|
Name : |
Mr. Upender Kumar Agarwal |
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Designation : |
Chairman and Managing
Director |
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Name : |
Mr. Ritesh Kumar Agarwal |
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Designation : |
Executive Director |
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Name : |
Mr. Vijay Kumar Gupta |
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Designation : |
Non-Executive Director |
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Name : |
Mr. Shreedas Narayandas
Daga |
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Designation : |
Non-Executive Director |
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Name : |
Dr. Kankanala Jangi Reddy |
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Designation : |
Non-Executive Director |
KEY EXECUTIVES
|
Name : |
Mr. K. Ravi Kumar |
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Designation : |
Chief
Financial Officer |
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Name : |
Mr. P. Surya Prakash |
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Designation : |
Company
Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Category of Shareholder |
Total No. of
Shares |
Percentage of
Holding |
|
(A)
Shareholding of Promoter and Promoter Group |
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|
2073859 |
68.33 |
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|
2073859 |
68.33 |
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Total
shareholding of Promoter and Promoter Group (A) |
2073859 |
68.33 |
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(B)
Public Shareholding |
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|
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|
700 |
0.02 |
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|
24907 |
0.82 |
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|
25607 |
0.84 |
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|
160370 |
5.28 |
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|
553135 |
18.23 |
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|
204611 |
6.74 |
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|
17415 |
0.57 |
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1997 |
0.07 |
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15418 |
0.51 |
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|
935531 |
30.82 |
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Total
Public shareholding (B) |
961138 |
31.67 |
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Total
(A)+(B) |
3034997 |
100.00 |
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(C)
Shares held by Custodians and against which Depository Receipts have been
issued |
-- |
-- |
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-- |
-- |
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-- |
-- |
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-- |
-- |
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Total
(A)+(B)+(C) |
3034997 |
-- |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal share
capital up to Rs. 0.100 millionBUSINESS DETAILS
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Line of Business : |
Manufacturer of Yarn. |
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Products : |
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PRODUCTION STATUS
As on 31.03.2011
Licensed Capacity
: Not
Applicable since the Industry is delicensed
Installed Capacity
(No. of Spindles) : 111840
|
Particulars |
Unit |
Actual
Production |
|
Yarn |
Kgs. |
12309098 |
GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
·
Industrial Development Bank of ·
State Bank of ·
State Bank of ·
State Bank of ·
State Bank of ·
Axis Bank Limited ·
The Bank of Rajasthan Limited ·
Central Bank of |
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Facilities : |
Notes : 1. The 9%
Redeemable, Non convertible debentures are secured by mortgage of present and
future movable and immovable properties of the company situated at Mahaboobnagar
unit on pari-passu basis and guaranteed by one director of the Company. The
Debentures are redeemable in ten quarterly instalments starting from 1st
January, 2010 onwards as per rescehedulement permitted by IDBI Bank. 2. Industrial
Development Bank of India Limited and State Bank of 3. State Bank of
4. Term loans
from Axis Bank Limited are secured by mortgage of present and future movable
and immovable assets of the company situated at tandur unit on pari passu
basis and second paripassu charge on entire fixed assets of Mahaboobnagar
unit of the company, present and future and guaranteed by two directors of
the company. 5. Term Loan of
ICICI Bank Limited, (formerly The Bank of Rajastan Limited) is secured on
paripasu basis by Factory land and Buildings of Mahaboobnagar unit present
and future, and factory land and buildings of dyeing Plant at Yedira Village
of Mahaboobnagar district and second paripassu charge on fixed assets of
Tandur Unit. 6. Corporate
loan from State Bank of Hyderabad is secured by extension of pari passu
filrst charge on all chargeable current assets and second charge on the fixed
assets at Mahaboobnagar and Tandur on pari passu basis alongwith other
working capital loans and personal gurantee of two directors. 7. Corporate
loan from State Bank of Mysore is secured by extension of pari passu filrst
charge on all chargeable current assets and second charge on the fixed assets
at Mahaboobnagar and Tandur on pari passu basis alongwith other working
capital loans and personal gurantee of two directors. 8. Working
capital term loan from Central Bank of 9. All Working
Capital loans, are secured by hypothecation of stocks of raw materials, yarn,
stock-in-process, stores and spares, book debts and Second Charge on the
present and future immovable properties of the company on pari-passu basis
and further guaranteed by two directors of the company. 10. Loan from
IDBI Bank is secured by pledge of stocks of Cotton and guaranteed by two
directors of the company. 11. Car loans are secured by hypothecation of respective assets and
guaranteed by one director of the company.
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Banking
Relations : |
-- |
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Financial Institution : |
IDBI Trusteeship Services Limited |
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Auditors : |
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Name : |
S. Daga
and Company Chartered Accountants |
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Address : |
403, |
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Associates : |
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CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
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|
14000000 |
Equity Shares |
Rs.10/- each |
Rs.140.000 Millions |
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Issued, Subscribed and Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9534997 |
Equity Shares |
Rs.10/- each |
Rs.95.350 Millions |
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As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14000000 |
Equity Shares |
Rs.10/- each |
Rs.140.000 Millions |
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Issued, Subscribed and Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3034997 |
Equity Shares |
Rs.10/- each |
Rs.30.350
Millions |
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Note :
[51500 (Previous year 51500) Equity shares of Rs.10 each issued for cash
and 2983497 (Previous year 2983497) Equity shares of 10 each issued for
consideration other than cash]
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 |
30.350 |
30.350 |
30.350 |
|
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves and Surplus |
507.640 |
381.769 |
366.881 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
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NETWORTH |
537.990 |
412.119 |
397.231 |
|
|
LOAN FUNDS |
|
|
|
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|
1] Secured Loans |
1789.413 |
1873.473 |
1728.584 |
|
|
2] Unsecured Loans |
218.507 |
199.324 |
199.747 |
|
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TOTAL BORROWING |
2007.920 |
2072.797 |
1928.331 |
|
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DEFERRED TAX LIABILITIES |
138.559 |
115.698 |
99.807 |
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|
|
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|
|
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TOTAL |
2684.469 |
2600.614 |
2425.369 |
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
1804.344 |
1848.627 |
1064.336 |
|
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Capital work-in-progress |
11.727 |
20.620 |
737.608 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.098 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS and ADVANCES |
|
|
|
|
|
|
Inventories |
984.424
|
703.921 |
584.389 |
|
|
Sundry Debtors |
195.116
|
165.480 |
163.968 |
|
|
Cash and Bank Balances |
54.144
|
29.495 |
23.566 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans and Advances |
240.385
|
196.686 |
229.659 |
|
Total
Current Assets |
1474.069
|
1095.582 |
1001.582 |
|
|
Less : CURRENT
LIABILITIES and PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
486.286
|
288.987 |
315.266 |
|
|
Other Current Liabilities |
49.117
|
44.045 |
25.989 |
|
|
Provisions |
70.268
|
31.183 |
37.000 |
|
Total
Current Liabilities |
605.671
|
364.215 |
378.255 |
|
|
Net Current Assets |
868.398
|
713.367 |
623.327 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2684.469 |
2600.614 |
2425.369 |
|
PROFIT AND LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2720.263 |
2032.149 |
1627.947 |
|
|
|
Other Income |
38.072 |
49.571 |
43.959 |
|
|
|
TOTAL (A) |
2758.335 |
2081.720 |
1671.906 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Materials Consumed |
1568.204 |
1188.274 |
1091.991 |
|
|
|
Purchase of Cotton – Trading |
0.000 |
2.809 |
1.939 |
|
|
|
Other Manufacturing Expenses |
8.395 |
22.741 |
27.434 |
|
|
|
Chemicals, Stores & Packing
materials consumed0 |
78.412 |
71.528 |
65.881 |
|
|
|
Power and Fuel |
226.738 |
193.919 |
164.289 |
|
|
|
Payments to & provisions for
Employees |
188.346 |
144.378 |
123.660 |
|
|
|
Administrative expenses |
177.520 |
147.238 |
137.975 |
|
|
|
Managerial Remuneration |
6.551 |
5.877 |
8.896 |
|
|
|
(Increase) / Decrease in Stock |
(31.124) |
32.665 |
(172.301) |
|
|
|
TOTAL (B) |
2223.042 |
1809.429 |
1449.764 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
535.293 |
272.291 |
222.142 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
216.228 |
154.966 |
130.868 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
319.065 |
117.325 |
91.274 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
112.172 |
70.870 |
69.109 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
206.893 |
46.455 |
22.165 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
64.096 |
23.786 |
12.163 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
142.797 |
22.669 |
10.002 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
210.698 |
199.322 |
209.887 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed
Dividend |
12.140 |
6.070 |
6.070 |
|
|
|
Tax on
Dividend |
1.969 |
1.032 |
1.031 |
|
|
|
Debenture Redemption Reserve |
14.000 |
2.391 |
11.766 |
|
|
|
Transfer to General Reserve |
14.300 |
1.800 |
1.700 |
|
|
BALANCE CARRIED
TO THE B/S |
311.086 |
210.698 |
199.322 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Sales (FOB) |
612.781 |
611.668 |
286.903 |
|
|
TOTAL EARNINGS |
612.781 |
1224.449 |
286.903 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
6.491 |
6.989 |
8.531 |
|
|
|
Stores and Spares |
5.289 |
6.905 |
5.903 |
|
|
|
Capital Goods |
187.265 |
55.452 |
107.409 |
|
|
TOTAL IMPORTS |
199.045 |
69.346 |
121.843 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
47.05 |
7.47 |
3.30 |
|
QUARTERLY RESULTS
|
PARTICULARS |
|
30.06.2011 |
30.09.2011 |
|
|
|
1st
Quarter |
2nd
Quarter |
|
Net Sales |
|
668.850 |
700.76 |
|
Total Expenditure |
|
580.980 |
666.620 |
|
PBIDT (Excl OI) |
|
87.870 |
34.140 |
|
Other Income |
|
1.220 |
11.680 |
|
Operating Profit |
|
89.090 |
45.820 |
|
Interest |
|
56.300 |
161.210 |
|
Exceptional Items |
|
0.000 |
0.000 |
|
PBDT |
|
32.790 |
(115.390) |
|
Depreciation |
|
28.620 |
34.220 |
|
Profit Before Tax |
|
4.160 |
(149.6100 |
|
Tax |
|
0.830 |
(48.250) |
|
Provisions and contingencies |
|
0.000 |
0.000 |
|
Profit After Tax |
|
3.330 |
(101.360) |
|
Extraordinary Items |
|
0.000 |
0.000 |
|
Prior Period Expenses |
|
0.000 |
0.000 |
|
Other Adjustments |
|
0.000 |
0.000 |
|
Net Profit |
|
3.330 |
(101.360) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
5.18
|
1.09 |
0.60 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.61
|
2.29 |
1.36 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.31
|
1.58 |
1.07 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.38
|
0.11 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.86
|
5.91 |
5.81 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.43
|
3.01 |
2.65 |
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS :
During the year the Company achieved a turnover of Rs.2758.335 Millions and
Net Profit of Rs.142.797 Millions as against turnover of Rs.2081.720 Millions
and Net Profit of Rs.22.669 Millions in the previous year.
MANAGEMENT
DISCUSSION AND ANALYSIS
Industry overview
The Textiles
Sector in
Textile Industry
is providing one of the most basic needs of people and holds importance,
maintaining sustained growth for improving quality of life. It has a unique
position as a self-reliant industry, from the production of raw materials to
the delivery of finished products, with substantial value-addition at each
stage of processing; it is a major contribution to the country’s economy.
Currently, the
Indian Textile Industry is valued at US$ 55 billion, 64% of which caters to
domestic demand. The Industry is also significant in a global context, ranking
second to
Indian Textile
Industry – SWOT Analysis
Strengths
- Huge Domestic
Market consumption (due to its own population).
- Tremendous
Export Potential.
- The new age
creative and risk taking entrepreneurs.
- Use of latest
technology which produces high quality multi-fiber raw material.
- Supportive
government policies.
- Having
demographical and environmental advantages
Opportunities
The western countries are now setting up their manufacturing units in
Experts believe that the golden era of Chinese textile and apparel
exports is over and the production base of global textiles is gradually
shifting from
Outlook
The textile
industry in
Union Ministry of
Textiles certified Apparel Export Promotion Council (AEPC) has taken the
responsibility to motivate the foreign investors to invest in Indian Textile
industry by exhibiting its massive and unexplored domestic market. It has also
formulated and endorsed the motto of “come, invest, produce and sell in
The government of
UNAUDITED
STANDALONE FINANCIAL RESULTS FOR THE QUARTER ENDED 31.09.2011
(Rs. In Million)
|
Particulars |
30.09.2011 Quarter
Ended (Unaudited) |
30.09.2011 Half
Year Ended (Unaudited) |
|
1. Net
Sales / Income from Operations |
694.318 |
1349.671 |
|
2. Other Operating Income |
6.439 |
19.939 |
|
Total Income
(1+2) |
700.757 |
1369.61 |
|
Expenditure |
|
|
|
1. (Increase)/decrease in Stock in Trade |
23.546 |
(105.679) |
|
2. Consumption of Raw Materials(Including project bought outs) |
451.562 |
977.746 |
|
3. Purchase of traded goods |
0.000 |
0.000 |
|
4. Power and Fuel |
60.114 |
123.615 |
|
5. Employees Cost |
53.095 |
104.763 |
|
6. Depreciation |
34.219 |
62.835 |
|
7. Other Expenditure |
78.300 |
147.159 |
|
Total
Expenditure |
700.836 |
1310.439 |
|
Profit / (Loss)
From Operations before other Income Interest and Exceptional Items |
(0.079) |
59.171 |
|
Other Income |
11.676 |
12.892 |
|
Profit/(Loss) before
Interest and Exceptional items |
11.597 |
72.063 |
|
Interest |
161.210 |
217.513 |
|
Profit / (Loss)
after interest before Exceptional items |
(149.613) |
(145.450) |
|
Exceptional Items |
0.000 |
0.000 |
|
Profit / (Loss) From
Ordinary activities before Tax |
(149.613) |
(145.450) |
|
Corporate Tax |
0.000 |
0.000 |
|
Differed Tax |
(48.253) |
(48.253) |
|
Net
Profit/(Loss) From Ordinary activities after Tax |
(101.360) |
(97.197) |
|
Extraordinary Items |
0.000 |
0.000 |
|
Net
Profit/(Loss) for the period |
(101.360) |
(97.197) |
|
Paid Up Equity Share Capital ( Face Value of the share Rs.10/- each ) |
30.350 |
30.350 |
|
Reserves (Excluding Revaluation Reserves) |
0.000 |
0.000 |
|
Earning / loss
per share |
|
|
|
-Basic |
(33.40) |
(32.03) |
|
-Diluted |
(33.40) |
(32.03) |
|
Public Share
Holding |
|
|
|
- Number of Shares |
961138 |
961138 |
|
- Percentage of shareholding |
31.67 |
31.67 |
|
Promoters and
Promoter group share holding |
|
|
|
a) Pledged / Encumbered |
|
|
|
- Number of Shares |
493092 |
493092 |
|
- Percentage of share (as a % of the total shareholding of promoter
and promoter group) |
23.78% |
23.78% |
|
- Percentage of shares(as a % of the total share capital of the
company) |
16.25% |
16.25% |
|
b) Non-encumbered |
|
|
|
- Number of Shares |
1580767 |
1580767 |
|
- Percentage of Share (as a % of the total shareholding of promoter
and promoter group) |
76.22% |
76.22% |
|
- Percentage of Share (as a % of the total share capital of the
company) |
52.08% |
52.08% |
Statement of
Assets and Liabilities
|
Particulars |
30.09.2011 |
30.09.2011 |
|
|
(Unaudited) |
|
|
Shareholders Funds |
|
|
|
Capital |
30.350 |
30.350 |
|
Reserves and Surplus |
409.126 |
451.271 |
|
Loan Funds |
1881.106 |
1933.930 |
|
Deferred Tax Liabilities |
90.306 |
115.697 |
|
Total |
2410.888 |
2531.249 |
|
Fixed Assets |
1832.700 |
1834.956 |
|
Current Assets, Loans and Advances |
|
|
|
Inventories |
842.790 |
684.018 |
|
Sundry Debtors |
278.184 |
224.842 |
|
Cash and Bank Balances |
60.500 |
32.432 |
|
Other Current Assets |
122.160 |
89.698 |
|
Loans and Advances |
124.336 |
127.684 |
|
Less : CURRENT
LIABILITIES and PROVISIONS |
|
|
|
Liabilities |
778.388 |
421.875 |
|
Provisions |
71.394 |
40.506 |
|
Net Current Assets |
578.188 |
696.293 |
|
Total |
2410.888 |
2531.249 |
Notes:
- The above
financial results were reviewed by audit committee and taken on record by the
Board of Directors at its meeting held on 12th November,2011.
- The results
were also subjected to limited review by the Statutory Auditors of the
company.
- Interest
includes withdrawal of TUFS subsidy for the period from January, 2006 to
March,, 2011 amounting to Rs.63.900 Millions, and interest thereon
Rs.21.000 Millions vide letters dated 09.09.2011and12.09.2011 of
appropriate authorities.
- Depreciation
includes Rs.4.200 Millions pertaining to previous year.
- There were no
pending investor complaints at the beginning of the quarter. During the
quarter the company has not received any complaints from investors.
- The Company
has only single reportable business segment.
- Previous
year's figures have been regrouped wherever necessary.
FIXED ASSETS
- Land
- Factory
Buildings
- Non-Factory
Buildings
- Town Ship
- Work Shop
Equipment
- Plant And
Machinery
- Testing
Equipment
- Electrical
Instalations
- Weighing
Machines
- Water Works
- Furniture and
Fixtures
- Office
Equipments
- Vehicles
- Data
Processing Equipment
- Revalued
Plant and Machinery
WEBSITE DETAILS:
Business
Description
Subject is an India-based company. The Company is engaged in the
manufacturing of yarn. Its principal products include cotton yarn and poly and viscose
(PV) yarn. Its other products include melange yarn, flame retardant yarns,
modal and dyed yarn. The Company exports its products to various countries like
Board of Directors
Mr. Upendra Kumar Agarwal
Chairman of the
Board, Managing Director
He is a graduate and has more than 35 years of experience in the Cotton
Industry. He is the Chairman and Managing Director of M/s Subject. He has been
associated with the cotton industry for the past 35 years. Besides this, he has
acquired considerable experience in factory operations, finance and general
administration.
Mr. Ritesh Kumar
Agarwal
Chief Executive
Officer, Executive Director
He graduated from the University of Charleston WV in 1993, with specialization
in Business Administration, started his business career as Chief Executive
Officer learning his way to higher responsibilities from the grass root level
to achieve a command on day to day operations. After a stint in production, he
moved forward into the field of marketing of yarn. As an Executive Director of
the Company, he is incharge of Marketing, Finance, Exports and Production.
Mr. Shreedas
Narayandas Daga
Independent
Non-Executive Director
He is a graduate with about 25 years of Industrial and Entrepreneurial
experience. He is Chairman in Vins Bio Products Limited.
Mr. Vijay Kumar
Gupta
Independent
Non-Executive Director
He is a Commerce graduate and had been trained at the Administrative
Staff College of India in the areas of Management. He has about 40 years of
experience in textiles trading and textile processing. He has been in textiles
trading since 1968 through proprietary concerns belonging to his family. He has
been instrumental in taking up the company to its present status and
unprecedented growth. He is the Chairman and Managing Director of M/s Vijay
Textiles Limited and also associated with Vijay Infotech Ventures as the main
Promoter.
Mr. Kankanala
Jangi Reddy
Independent
Non-Executive Director
He is a senior orthopedic consultant surgeon. He is a qualified medical
practitioner having the experience. Apart from medicine, he has the experience
in Management and Administration as he has been a professor and Registrar in
various Medical Colleges and hospitals in
History
With a humble beginning of a mere 6000 spindles in 1962 to a 120,000-spindle facility now, Subject has nurtured a single
minded devotion at work: To exceed the customers expectation in terms of
quality, choice of products and service. This has been achieved through
sophisticated manufacturing methods, a team of involved and dedicated
personnel, well-coordinated operations and ruthless quality checks. The
results: today it is hailed as one of the trend-setting cotton spinning firms
in
With over a three and half million pounds of yarn manufactured every
month, it’s a collective passion to produce nothing but the best in the world
and deliver the same in no less than a record time.
Small wonder that today Rajvir Industries has a huge library of over
6000 Mélange/Heather shades and a range that encompasses everything from 100%
Cotton/Organic/Fair-trade,Combed yarns, Blended yarns (Polyester, Viscose,
Modal, Spun Silk and Flame Retardant ) Mélange/ Heather yarns, Modal Yarns,
Synthetic yarns and Cheese Dyed yarns.
PRESS RELEASE:
Rajvir Industries
Limited Announces Issuing Of Equity Shares On Preferential Basis
Oct 17, 2011
Rajvir Industries Limited announced that the Board of Directors of the
Company at meeting held on October 17, 2011, has allotted 6,50,000 Redeemable
Non Convertible Cumulative Preference Shares of INR. 100 each at par to
Promoters on preferential basis.
Rajvir Industries
Limited Announces Change In Positions Of CEO And CFO
Aug 05, 2011
Rajvir Industries Limited announced that the Board of Directors in its
duly held meeting on May 26, 2011 have approved the changes in the positions of
Chief Executive Officer (CEO) and Chief Financial Officer (CFO). At present Mr
U. K. Agarwal, Chairman and Managing Director and Mr Ritesh K Agarwal,
Executive Director were acting as CEO and CFO respectively. Henceforth, Mr.
Ritesh K. Agarwal, Executive Director will also discharge the functions of CEO
and will be designated as CEO and CA K. Ravi Kumar, presently General Manager
(Finance) will also discharge the functions of CEO and will be designated as
CFO.
Rajvir Industries
Limited Recommends Dividend
May
30, 2011
Rajvir Industries Limited announced that the Board of Directors of the
Company at its meeting held on May 30, 2011, inter alia, has recommended 40%
dividend i.e. INR4.00 per Equity share for the financial year 2010-11 subject
to the approval of the shareholders in the forthcoming Annual General Meeting.
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.52.78 |
|
|
1 |
Rs.81.79 |
|
Euro |
1 |
Rs.67.46 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
50 |
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.