MIRA
INFORM REPORT
|
Report Date : |
06.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
RAJ PROCESS EQUIPMENTS AND SYSTEMS PRIVATE LIMITED |
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Registered Office : |
Plot No.167, Sector -7, PCNTDA, Bhosari, Pune – 411 026, |
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Country : |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
07.02.2003 |
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Com. Reg. No.: |
25-17672 |
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Capital Investment / Paid-up Capital : |
Rs.42.000
Millions |
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CIN No.: [Company
Identification No.] |
U29299PN2003PTC017672 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNER06704F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer , Exporter and Importer of Engineering goods and
Equipments |
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No. of Employees : |
200 Approximately |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (47) |
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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 543540 |
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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 a well established company having satisfactory track. The
company has recorded a better increase in its sales turnover and
profitability during the year 2011. 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 – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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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 |
INFORMATION PARTED BY
|
Name : |
Mr. Sagar |
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Designation : |
Marketing Asst. Manager |
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Contact No.: |
91-9860001144 |
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Date : |
03.07.2012 |
LOCATIONS
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Registered office / Factory 1: |
Plot No.167, Sector -7, PCNTDA, Bhosari, Pune – 411 026, |
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Tel. No.: |
91-20-27119973 / 24145 / 27124177 / 27124876 |
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Mobile No.: |
91-9860001144 (Mr. Sagar K) |
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Fax No.: |
91-20-4071009 |
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E-Mail : |
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Website : |
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Area: |
10000 sq.ft |
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Location : |
Rented |
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Factory 2: |
Sr. No. 373, Village
Kharabwadi, Chakan, Tal. Khed, Dist. |
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Tel. No.: |
91 - 2135 – 252251/255654 |
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Marketing Representatives: |
Secundrabad 3-42-25, Samrat Colony,
West Marredapally, Secundrabad- 500 026, No. 29 A, 1st floor,
Jalan Timun 24/C, 40300 Shah Alam, Selangor, Darul, Eshan, Malaysia. Chennai No. 17, Anna Commercial
Complex, Gowriwakkan, Chennai 601 073, ED - 55, Tel No.: 91 - 11 - 25460255 |
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Head office : |
Jai Ganesh Vision, B Wing, 3rd Floor, Akurdi, Pune –
411035, |
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Tel. No.: |
91-20-40710010/40710005/40710011/27122145/27119973/27124876 |
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Fax No.: |
91-20-40710009 |
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E-Mail : |
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Location : |
Owned |
DIRECTORS
AS ON 30.09.2011
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Name : |
Mr. Anilraj Vasant Pise |
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Designation : |
Managing Director |
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Address : |
Flat No.4, Murlidhar Apartments, 370, Shaniwar Peth, Pune – 411030, |
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Date of Birth/Age : |
18.06.1974 |
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Date of Appointment : |
07.02.2004 |
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DIN No. : |
00324870 |
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Name : |
Mr. Vasant Eknath Pise |
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Designation : |
Director |
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Address : |
C/O Eknath Pise, At / post Varkute Malwadi, Man, Satara – 415509, |
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Date of Birth/Age : |
01.10.1943 |
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Date of Appointment : |
07.02.2004 |
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Name : |
Mr. Vijayraj Vasant Pise |
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Designation : |
Director |
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Address : |
Flat No.4, Murlidhar Apartments, 370, Shaniwar Peth, Pune – 411030, |
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Date of Birth/Age : |
03.06.1972 |
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Date of Appointment : |
13.07.2005 |
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DIN No. : |
00349645 |
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Name : |
Mr. Mohan Govind Choudhari |
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Designation : |
Director |
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Address : |
201, Viola Survey No. 118/C-5, Near Cipla Foundation, Warje, Pune –
411051, |
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Date of Birth/Age : |
18.11.1973 |
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Date of Appointment : |
06.11.2005 |
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Name : |
Mr. Yogesh Kamre |
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Designation : |
Director |
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Date of Birth/Age : |
29 years |
KEY EXECUTIVES
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Name : |
Mr. Sagar |
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Designation : |
Marketing Asst. Manager |
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Name : |
Mr. Manish Athavale |
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Designation : |
Marketing Sales Engineer |
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Mobile No : |
91-9766441144,9860001144 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
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No. of Shares |
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Anilraj Vasant Pise |
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2310045 |
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Vasant Eknath Pise |
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630045 |
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Vijayraj Vasant Pise |
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1259910 |
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Total |
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4200000 |
LIST OF ALLOTTEE
AS ON 15.03.2012
|
Names of Shareholders |
|
No. of Shares |
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Anilraj Vasant Pise |
|
3190000 |
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Vasant Eknath Pise |
|
870000 |
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Vijayraj Vasant Pise |
|
1740000 |
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Total |
|
5800000 |
Equity Share Breakup (AS ON 30.09.2011)
|
Particulars |
Percentage |
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Directors and relatives of directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer , Exporter and Importer of Engineering goods and
Equipments |
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Products : |
·
Dryers: Spray Dryer, Flash Dryer (Spin Flash Dryer and Cage Mill Flash
Dryer), Rotary Dryer, Calciner, Continuous Fluid Bed Dryer, Paddle Dryer,
etc. · Evaporators: Agitated Thin Film Evaporator, Falling Film Evaporator, Forced Circulation Evaporator, etc. · Mixers: Cone Screw Mixer (Nauta Mixer), Plough Shear Mixer, Conical Blender, Double Cone Blender, Ribbon Blender, Paddle Mixer, etc. · Heat Transfer Equipment - Heat Exchanger, Hot Air Generator, etc. ·
Agitators ·
Auto
Weighing and Batching Systems · Coded Vessels - Pressure Vessels, Storage Tanks, Reactors, etc. ·
Storage
Silos |
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Exports : |
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Products : |
Engineering Goods and Equipments |
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Countries : |
·
Finland ·
Malaysia ·
Indonesia ·
Bangladesh ·
Iran ·
Ukrain |
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Terms : |
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Selling : |
Cash, Credit |
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Purchasing : |
Cash, Credit |
GENERAL INFORMATION
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Customers : |
·
End Users ·
OEM’s |
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No. of Employees : |
275 Approximately |
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Bankers : |
·
The Saraswat Co – Operative Bank Limited ·
C-2, Kohinoor Estate Co-Operative Housing
Society, Plot No.12, Mula Road, Sangamwadi, Pune – 411 003, Maharashtra,
India. ·
The Saraswat Co Operative Bank Limited, , 2nd
Floor, Above F C Road Branch, Ganeshwadi, Opposite Hotel Vaishali Shivaji
Nagr, Pune 411004, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
M M Sancheti and Company Chartered Accountant |
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Address : |
273, Sudarshan Apartment, Shridhar Nagar, Chinchwad, Pune – 411 033, |
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Associates/Subsidiaries : |
Raj Industries Address : 166, Sector 7, Bhosari, Pune – 26, |
CAPITAL STRUCTURE
AS ON 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4200000 |
Equity Shares |
Rs.10/- each |
Rs.42.000
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
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|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
1000.000 |
Expected Sales (2012-2013) : Rs.2000.000 millions
The above information has been parted by Mr. Sagar
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
42.000 |
15.000 |
10.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
93.885 |
72.073 |
57.882 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
135.885 |
87.073 |
67.882 |
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LOAN FUNDS |
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1] Secured Loans |
126.207 |
72.178 |
50.804 |
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2] Unsecured Loans |
9.075 |
5.006 |
4.400 |
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TOTAL BORROWING |
135.282 |
77.184 |
55.204 |
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DEFERRED TAX LIABILITIES |
0.856 |
0.744 |
0.743 |
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TOTAL |
272.023 |
165.001 |
123.829 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
91.027 |
91.884 |
93.654 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.025 |
0.025 |
0.025 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
90.828
|
68.985
|
53.654
|
|
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Sundry Debtors |
203.362
|
115.449
|
30.906
|
|
|
Cash & Bank Balances |
6.025
|
8.642
|
1.813
|
|
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Other Current Assets |
0.000
|
0.000
|
0.000
|
|
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Loans & Advances |
37.565
|
13.469
|
5.921
|
|
Total
Current Assets |
337.780
|
206.545
|
92.294
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
95.916
|
44.383
|
|
|
Other Current Liabilities |
127.375
|
29.104
|
12.718
|
|
|
Provisions |
29.434
|
8.433
|
5.043
|
|
Total
Current Liabilities |
156.809
|
133.453
|
62.144
|
|
|
Net Current Assets |
180.971
|
73.092
|
30.150
|
|
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|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
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|
|
|
TOTAL |
272.023 |
165.001 |
123.829 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
TURNOVER |
448.122 |
211.998 |
138.631 |
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|
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DEPRECIATION |
9.787 |
6.557 |
5.545 |
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PROFIT BEFORE
TAX |
78.359 |
22.624 |
12.775 |
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PROVISION FOR
TAX |
18.084 |
8.432 |
4.687 |
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|
PROFIT CARRIED
TO BALANCE SHEET |
11.955 |
1.793 |
17.602 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Net Profit Margin (PBT/Sales) |
(%) |
17.48
|
10.67 |
9.21 |
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.27
|
7.58
|
6.87
|
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.57
|
0.26
|
0.19
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Debt Equity Ratio (Total Liability/Networth) |
|
2.15
|
2.42
|
1.73
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Current Ratio (Current Asset/Current Liability) |
|
2.15
|
1.55
|
1.49
|
LOCAL AGENCY FURTHER INFORMATION
NOTE
The Registered Office of the company has been shifted from 370
Muralidhar Apartments, Shaniwar Peth, Pune – 411 030, Maharashtra, India to the
present address w.e.f.10.08.2007
FIXED ASSETS
·
·
Office Premises
·
·
Electrical Installation
·
Plant and Machinery
·
Computers
·
Office Equipments
·
Furniture and Fixture
·
Vehicle – Starbus
FORM 8
|
Corporate
identity number of the company |
U29299PN2003PTC017672 |
|
Name of the
company |
RAJ PROCESS EQUIPMENTS AND SYSTEMS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No.167, Sector -7, PCNTDA, Bhosari, Pune – 411 026, Maharashtra,
India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Others |
|
Particular of
charge holder |
The Saraswat Co Operative Bank Limited, , 2nd Floor, Above
F C Road Branch, Ganeshwadi, Opposite Hotel Vaishali Shivaji Nagr, Pune
411004, Maharashtra, India Email: csadeshpande@gmail.com |
|
Nature of
instrument creating charge |
Agreement Of
Hypothecation Of Vehicle Dated 17th May 2012. |
|
Date of
instrument Creating the charge |
17.05.2012 |
|
Amount secured by
the charge |
Rs. 0.942 million
|
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Interest to be
paid at 10.50% p. A. With monthly rests from the date of loan disbursed. Terms of repayment Repayable On
Demand But Not Later Than 36 Months With A Monthly Installment Of Rs. 0.030
million Each (Emi). If Not Repaid As Stipulated Or And Failure To Comply With
Any Terms And Conditions Of Advance, Repayment Through Od 3283 At Sme Pune Margin 11% Extent and operation of the charge Type Of Facility
:- Term Loan (Vehicle Loan) Other All Other Terms
And Conditions As Per Agreement |
|
Short particulars
of the property charged (Including location of the property) |
The Borrower/S
Doth Do Hereby Hypothecate To And In Favour of The Bank The One (1) Motor
Vehicles Viz. Volkswagen Vento , Registered With The Rto Pune |
|
Check List by
Info Agents |
Available in
Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter's background |
Yes |
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8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
Yes |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
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
involved in |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
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.55.03 |
|
|
1 |
Rs.85.93 |
|
Euro |
1 |
Rs.68.97 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
PRL |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
47 |
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.