MIRA
INFORM REPORT
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Report Date : |
06.07.2012 |
IDENTIFICATION DETAILS
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Name : |
RUPAREL FOODS PRIVATE LIMITED |
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Registered
Office : |
P B No. 12, 43 Industrial Plot, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
23.11.2004 |
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Com. Reg. No.: |
04-045044 |
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Paid-up Capital
: |
Rs. 15.000 Millions |
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CIN No.: [Company Identification
No.] |
U15490GJ2004PTC045044 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Peanut Butter and Paste. |
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No. of Employees
: |
50 (approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
B (27) |
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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 34876 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. There appear huge
accumulated losses recorded by the company. However trade relations are
reported as fair. Business is active. Payments are reported to be slow but
correct. The company can be considered for business dealings with some caution.
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NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Pankajkumar Ranchhoddas Ruparel |
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Designation : |
Director |
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Contact No.: |
91-9898026817 |
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Date: |
05.07.2012 |
LOCATIONS
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Registered Office/Factory : |
P B No. 12, 43 Industrial Plot, |
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Tel. No.: |
91-2844-222625/222681 |
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Mobile No.: |
91-9898026817 (Mr. Vishal Ruparel) |
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Fax No.: |
91-2844-222852/223575 |
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E-Mail : |
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Website : |
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Location : |
Owned |
DIRECTORS
AS ON 30.09.2011
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Name : |
Mr. Ranchhoddas Kikabhai Ruparel |
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Designation : |
Director |
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Address : |
15, Sarvodaya Society Behind Gandhi Bagh, Mahuva 364290, |
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Date of Appointment : |
14.12.2004 |
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DIN No.: |
00077543 |
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Name : |
Mr. Pankajkumar Ranchhoddas Ruparel |
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Designation : |
Director |
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Address : |
15, Sarvodaya Society Behind Gandhi Bagh, Mahuva 364290, |
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Date of Appointment : |
23.11.2004 |
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DIN No.: |
00077676 |
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Name : |
Mr. Vishalkumar Pankajkumar Ruparel |
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Designation : |
Director
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Address : |
15, Sarvodaya Society Behind Gandhi Bagh, Mahuva 364290, |
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Date of Appointment : |
23.11.2004 |
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DIN No.: |
00077767 |
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Name : |
Mr. Shyam Pankajbhai Ruparel |
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Designation : |
Director |
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Address : |
15, Sarvodaya Society Behind Gandhi Bagh, Mahuva 364290, |
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Date of Birth/Age : |
07.06.1986 |
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Date of Appointment : |
03.04.2008 |
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DIN No.: |
01558313 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
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Names of Shareholders |
No. of Shares |
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Ranchhoddas K Ruparel |
185000 |
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Pankajkumar R Ruparel |
290000 |
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Vishalkumar P Ruparel |
155000 |
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Shyam P Ruparel |
100000 |
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Kusumben R Ruparel |
30000 |
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Rekhaben P Ruparel |
40000 |
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Ruparel Plastic Private Limited – |
100000 |
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Rupaweave Private Limited – |
350000 |
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Ruparel Net Private Limited – |
250000 |
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Total |
1500000 |
AS ON 30.09.2011
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Category |
Percentage |
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Bodies corporate |
46.66 |
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Directors or relatives of Directors |
53.34 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Peanut Butter and Paste. |
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Products : |
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Exports : |
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Products : |
Peanut Butter and Paste. |
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Countries : |
·
United States of America ·
United Kingdom ·
Korea ·
Germany ·
Taiwan ·
Saudi Arebia ·
Canada |
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Terms : |
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Selling : |
L/C, Cash, Credit (30 days) |
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Purchasing : |
Cash, Credit (30 days) |
GENERAL INFORMATION
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Customers: |
·
Wholesalers ·
Retailers ·
End Users |
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No. of Employees : |
50 (approximately) |
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Bankers : |
State Bank of India, Meghdoot Cinema, Mahuva Branch City Mahuva,
District Bhavnagar, Gujarat, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Gudani Associates Chartered Accountant |
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Address : |
101 – Vishal Flats, |
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Pan No.: |
ACHPG0358A |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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1500000 |
Equity Shares |
Rs. 10 each |
Rs.15.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1500000 |
Equity Shares |
Rs. 10 each |
Rs.15.000
millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
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 |
15.000 |
18.200 |
15.000 |
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2] Share Application Money |
0.000 |
0.000 |
3.200 |
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3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
(6.281) |
(6.285) |
(6.524) |
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NETWORTH |
8.719 |
11.915 |
11.676 |
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LOAN FUNDS |
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1] Secured Loans |
18.755 |
21.099 |
14.784 |
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2] Unsecured Loans |
23.476 |
15.651 |
15.947 |
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TOTAL BORROWING |
42.231 |
36.750 |
30.731 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
50.950 |
48.665 |
42.407 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
20.363 |
23.908 |
25.261 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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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 |
25.461
|
10.491
|
6.327
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Sundry Debtors |
5.024
|
11.973
|
11.149
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Cash & Bank Balances |
0.505
|
0.066
|
0.168
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Other Current Assets |
0.000
|
0.000
|
0.000
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Loans & Advances |
4.329
|
3.327
|
2.486
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Total
Current Assets |
35.319
|
25.857
|
20.130
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
3.748
|
1.122
|
2.755
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Other Current Liabilities |
0.984
|
0.047
|
0.545
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Provisions |
0.000
|
0.088
|
0.000
|
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Total
Current Liabilities |
4.732
|
1.257
|
3.300
|
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Net Current Assets |
30.587
|
24.600
|
16.830
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MISCELLANEOUS EXPENSES |
0.000 |
0.157 |
0.316 |
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TOTAL |
50.950 |
48.665 |
42.407 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
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Other Income |
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TOTAL |
83.999 |
73.800 |
66.790 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
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|
66.556 |
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Advertising Expenses |
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TOTAL |
83.995 |
73.561 |
66.556 |
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PROFIT BEFORE
TAX |
0.004 |
0.239 |
0.234 |
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Less |
TAX |
0.000 |
0.000 |
0.000 |
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PROFIT AFTER TAX
|
0.004 |
0.239 |
0.234 |
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Earnings Per
Share (Rs.) |
0.20 |
0.29 |
0.16 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.00
|
0.32
|
0.35
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Net Profit Margin (PBT/Sales) |
(%) |
NA
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NA
|
0.35
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.01
|
0.48
|
0.52
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Return on Investment (ROI) (PBT/Networth) |
|
0.00
|
0.02
|
0.02
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Debt Equity Ratio (Total Liability/Networth) |
|
5.39
|
3.19
|
2.91
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Current Ratio (Current Asset/Current Liability) |
|
7.46
|
20.57
|
6.10
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LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
(Rs.
In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors |
|
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|
For Goods Supplied and Expenses |
3.748
|
1.122
|
2.755
|
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Check
List by Info Agents |
Available
in Report (Yes / No) |
|
1)
Year of Establishment |
Yes |
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2)
Locality of the firm |
Yes |
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3)
Constitutions of the firm |
Yes |
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4)
Premises details |
Yes |
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5)
Type of Business |
Yes |
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6)
Line of Business |
Yes |
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7)
Promoter's background |
Yes |
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8)
No. of employees |
Yes |
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9)
Name of person contacted |
Yes |
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10)
Designation of contact person |
Yes |
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11)
Turnover of firm for last three years |
Yes |
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12)
Profitability for last three years |
Yes |
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13)
Reasons for variation <> 20% |
-- |
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14)
Estimation for coming financial year |
No |
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15)
Capital in the business |
Yes |
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16)
Details of sister concerns |
No |
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17)
Major suppliers |
No |
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18)
Major customers |
No |
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19)
Payments terms |
Yes |
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20)
Export / Import details (if applicable) |
Yes |
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21)
Market information |
-- |
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22)
Litigations that the firm / promoter involved in |
-- |
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23)
Banking Details |
Yes |
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24)
Banking facility details |
Yes |
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25)
Conduct of the banking account |
-- |
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26)
Buyer visit details |
-- |
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27)
Financials, if provided |
Yes |
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28)
Incorporation details, if applicable |
Yes |
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29)
Last accounts filed at ROC |
Yes |
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30)
Major Shareholders, if available |
Yes |
FORM 8
|
Corporate identity number of the company |
U15490GJ2004PTC045044 |
|
Name of the company |
RUPAREL FOODS PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
PB No.12, 43 Industrial Plot Dist;
Bhavnagar, Mahuva – 364290, Gujarat, India |
|
This form is for |
Modification of charge |
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Type of charge |
Book Debts Movable Property Immovable Property |
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Particular of charge holder |
STATE BANK OF INDIA |
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Nature of instrument creating charge |
(1) Memorandum relating to deposit of
title deeds for creation of further charge for term loan / overall limit
where the
initial charge is created by way of mortgage by deposit of title deeds
dtd. 19-03-2012 (2) Supplemental Agreement of loan - cum
hypothecation dtd.19-03-2012 |
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Date of instrument Creating the charge |
19/03/2012 |
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Amount secured by the charge |
Rs.49.400 Millions |
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Brief of the principal terms an conditions
and extent and operation of the charge |
Rate of Interest 1. For term loan @ 17.50 % 2. For working capital @ 16.75% Terms of Repayment For Term loan of Rs. 17.400 Millions to be
repaid before 31/12/2012 For Working capital Rs. 30.000 Millions to
be repaid within a period of 12 months. For Forward booking limit Rs. 2.000
Millions to be repaid within a period of 12 months. Margin Term Loan 30 % Working Capital 25 % Extent and Operation of the charge For Term loan of Rs. 17.400 Millions For Working capital Rs. 30.000 Millions For Forward booking limit Rs. 2.000
Millions |
|
Short particulars of the property charged |
Factory bldg. situated at Survey No. 232/1
paikee, Plot No. 41-43-44, Nr. T. V. Relay Centre, Mahuva. Hyp. of plant and
machinery, stock of raw material, finished goods and work in progress |
|
Particulars of the present modification |
Charge registered vide charge id no.
80065105 for Rs. 30.900 Millions (17.400 Millions term loan + 13.500 Millions working capital Limit ) is
enhance to Rs. 49.400 Millions due to increase in working capital limit by
Rs. 16.500 Millions and forward booking limit of Rs. 2.000 Millions. Thus,
total charge is enhance to Rs. 49.400 Millions. |
FIXED ASSETS:
- Plant and Machinery
- Lab Equipment
- Computer
- Office
Equipment
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] 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 : |
JML |
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|
Report Prepared
by : |
SDA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
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 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
27 |
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.