MIRA
INFORM REPORT
|
Report Date : |
23.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
RPC POWER INDIA PRIVATE LIMITED |
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Registered
Office : |
A-27, Phase One, MEPZ, Tambaram, Chennai-600045, Tamilnadu |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
21.11.2002 |
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Com. Reg. No.: |
18-049905 |
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Capital Investment
/ Paid-up Capital : |
Rs.0.100
Million |
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CIN No.: [Company Identification
No.] |
U34300TN2002PTC049905 |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Manufacturer and Exporter of Cylinder Kit and Parts. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
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 120000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Financial
company is doing well. Trade relations are reported to be fair. Business is
active. Payments are reported to be regular and as per commitments. The company can be considered for normal 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 : |
A-27, Phase One, MEPZ, Tambaram, Chennai-600045, Tamilnadu, India |
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Tel. No.: |
91-44-22622424 |
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Fax No.: |
91-44-22623434 |
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E-Mail : |
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Website : |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Krishnaswamy Vaidyanathan |
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Designation : |
Chairman cum Managing Director |
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Address : |
1022 B Officers Colony, Anna Nagar West Ext., Chennai-600101,
Tamilnadu, India |
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Date of Appointment : |
21.11.2002 |
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Din No.: |
00359293 |
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Other Directorship:
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Name : |
Steven Edward Wylie |
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Designation : |
Director |
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Address : |
2636 Fawn Fescue Ct Minden Niveda-89423, United State of America |
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Date of Appointment : |
21.11.2002 |
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Din No.: |
02402720 |
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Name : |
Mr. Krishnaswamy Ramakrishan |
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Designation : |
Director |
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Address : |
1022 B Officers Colony, Anna Nagar West Ext., Chennai-600101,
Tamilnadu, India |
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Date of Appointment : |
21.11.2002 |
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Din No.: |
01760028 |
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Other Directorship:
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
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Names of Shareholders |
|
No. of Shares |
|
John Colyer |
|
5000 |
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Steven Edward Wylie |
|
2500 |
|
Apa Engineering Private Limited, India |
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2500 |
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Total |
|
10000 |
As on 30.09.2011
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
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50.00 |
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Bodies
corporate |
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25.00 |
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Directors
or relatives of directors |
|
25.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Cylinder Kit and Parts. |
GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
A.L. Raghunathan Chartered Accountants |
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Address : |
Old No. 18, New No. 10, Nagarjuna Nagar, 2nd Street,
Rangarajapuram, Kodambakkam, Chennai-600024, Tamilnadu, India |
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Tel. No.: |
91-44-24812498/23723511 |
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E-Mail : |
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Pan No.: |
AAEFP2531F |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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|
SHAREHOLDERS FUNDS |
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1] Share Capital |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
0.762 |
0.762 |
0.762 |
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3] Reserves & Surplus |
31.375 |
26.231 |
23.453 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
32.237 |
27.093 |
24.315 |
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LOAN FUNDS |
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1] Secured Loans |
3.713 |
6.738 |
18.025 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
3.713 |
6.738 |
18.025 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
35.950 |
33.831 |
42.340 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
6.986 |
4.238 |
2.971 |
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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 |
20.822
|
14.513 |
14.234 |
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Sundry Debtors |
31.693
|
35.067 |
62.480 |
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Cash & Bank Balances |
0.003
|
1.221 |
0.303 |
|
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Other Current Assets |
0.000
|
0.000 |
0.134 |
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Loans & Advances |
0.109
|
4.569 |
2.745 |
|
Total
Current Assets |
52.627
|
55.370 |
79.896 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
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|
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Sundry Creditors |
18.769
|
23.290 |
39.552 |
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Other Current Liabilities |
4.303
|
2.288 |
0.952 |
|
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Provisions |
0.591
|
0.199 |
0.023 |
|
Total
Current Liabilities |
23.663
|
25.777 |
40.527 |
|
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Net Current Assets |
28.964
|
29.593 |
39.369 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
35.950 |
33.831 |
42.340 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2009 |
31.03.2010 |
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SALES |
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Income |
85.299 |
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Other Income |
0.011 |
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TOTAL |
85.310 |
67.447 |
144.269 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
80.143 |
65.689 |
139.060 |
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Advertising Expenses |
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TOTAL |
80.143 |
65.689 |
139.060 |
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PROFIT / (LOSS)
BEFORE TAX |
5.167 |
1.758 |
5.209 |
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Less |
TAX |
0.024 |
0.008 |
0.001 |
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PROFIT / (LOSS)
AFTER TAX |
5.143 |
1.750 |
5.208 |
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Earnings / (Loss)
Per Share (Rs.) |
514.30 |
175.00 |
-- |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2009 |
31.03.2010 |
|
PAT / Total Income |
(%) |
6.03
|
2.59 |
3.61 |
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Net Profit Margin (PBT/Sales) |
(%) |
6.05
|
NA |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
8.67
|
2.95 |
6.29 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.16
|
0.06 |
0.21 |
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Debt Equity Ratio (Total Liability/Networth) |
|
0.85
|
1.20 |
2.41 |
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Current Ratio (Current Asset/Current Liability) |
|
2.22
|
2.15 |
1.97 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
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4) Premises details |
No |
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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 |
No |
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9) Name of person contacted |
No |
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10) Designation of contact person |
No |
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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 |
No |
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20) Export / Import details (if applicable) |
No |
|
21) Market information |
-- |
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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 |
-- |
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27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
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29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
NOTE: The Registered
Office of the company has been shifted from Unit No. 10, SDF III Phase
II Madras Export Processing Zone, Tambaram, Chennai-600045, Tamilnadu to the
present address w.e.f. 30.09.2009.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Creation of
charge |
|
Corporate identity
number of the company |
U34300TN2002PTC049905 |
|
Name of the
company |
RPC POWER INDIA
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
A-27, Phase One, MEPZ, Tambaram, Chennai-600045, Tamilnadu, India |
|
Type of charge |
Book Debts Movable Property
[not being pledge] Any Interest in
Immovable Property |
|
Particular of
charge holder |
State Bank of India,
Commercial Branch, Guidy, Chennai-600032, Tamilnadu, India |
|
Email |
|
|
Nature of
description of the instrument creating or modifying the charge |
1. Letter of
Arrangement. S M E - 1 2. Agreement of
Loan cum Hypothecation. S M E – 2 |
|
Date of
instrument Creating the charge |
05.04.2011 |
|
Amount secured by
the charge |
Rs.18.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As stipulated by
the Bank from time to time. Terms of
Repayment Working Capital:
Repayable on Demand Margin Raw Materials:
Imported : 25% Indigenous: 25% Semi Finished
Goods : 25% Finished
Goods : 25% Export Packing
Credit : 25% Extent and
Operation of the charge As mentioned in
the Agreements Others Nature of
Facility Rs. in. Millions PCFC/EPC 18.000 |
|
Short particulars
of the property charged |
Hypothecation of
present and future Current Assets such as Raw Materials, Semi Finished and
Finished Goods, Receivables and other Current Assets belonging to the
Company. Charge over the
Lease Hold Rights of the Factory Land and Building situated at Plot No.A.27,
Phase - I, MEPZ, Tambaram |
FIXED ASSETS:
·
Building
·
Office Equipments
·
Tools and Equipments
·
Plant and Machinery
·
Computers and Printers
·
Furniture and Fittings
·
Software
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.56.99 |
|
|
1 |
Rs.88.97 |
|
Euro |
1 |
Rs.71.57 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
52 |
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.