MIRA
INFORM REPORT
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Report Date : |
29.03.2012 |
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Tel. No.: |
91 22 22825200 |
IDENTIFICATION DETAILS
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Name : |
RISHICHEM DISTRIBUTORS PRIVATE LIMITED |
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Registered
Office : |
65, Atlanta, Nariman Point, Mumbai – 400021, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
03.07.1998 |
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Com. Reg. No.: |
11-115640 |
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Capital
Investment / Paid-up Capital : |
Rs.16.130 Millions |
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CIN No.: [Company Identification
No.] |
U51900MH1998PTC115640 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR14845F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Distributor, Exporter and Importer of Specialty Chemicals. |
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No. of Employees
: |
40 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (50) |
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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 670000 |
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Status : |
Good |
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Payment Behaviour : |
Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having fine track. Financial
position of the company is good. Trade relations are reported as fair.
Payments are reported to be correct and as per commitments. The company can be considered good 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.
INFORMATION PARTED BY
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Name : |
Mr. Sagar Mankame |
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Designation : |
Account Manager |
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Contact No.: |
91-22-40403232 |
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Date : |
27.03.2012 |
LOCATIONS
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Registered Office : |
65, Atlanta, Nariman Point, Mumbai – 400021, Maharashtra, India |
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Tel. No.: |
91-22-40952000/40403232/ 22825200 |
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Fax No.: |
91-22-22872796 |
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E-Mail : |
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Website : |
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Head/ Back Office : |
B 104 / 105, Citi Point, Next to Kohinoor Continental, J B Nagar,
Andheri Kurla Road, Andheri (East), Mumbai 400059, Maharashtra, India |
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Tel. No.: |
91-22-40403200 |
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Fax No.: |
91-22-28266817 |
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Branch Offices : |
Located at : ·
Delhi ·
Chennai ·
Ahmedabad ·
Bangalore ·
Kolkata |
DIRECTORS
As on 20.08.2011
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Name : |
Mr. Arvind Mahendra Kapoor |
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Designation : |
Director |
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Address : |
12, Manhar Oak, LD Ruparel, Cross Lane, Malabar Hill, Mumbai – 400006,
India |
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Date of Birth/Age : |
20.01.1954 |
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Date of Appointment : |
03.07.1998 |
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DIN No.: |
00002704 |
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Name : |
Mr. Atul Rameshchandra Shah |
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Designation : |
Director |
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Address : |
D – 405/2, Karachi Citizens Co-op Hos. Soc. , Juhu Versova Link Road,
Mumbai – 400053, Maharashtra, India |
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Date of Birth/Age : |
26.10.1949 |
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Date of Appointment : |
03.07.1998 |
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DIN No.: |
00004528 |
KEY EXECUTIVES
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Name : |
Mr. Sagar Mankame |
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Designation : |
Account Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 20.08.2011
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Names of Shareholders |
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No. of Shares |
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Rishiroop Holding Private Limited, India |
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80650 |
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Rishiroop Polymers Private Limited, India |
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80650 |
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Total |
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161300 |
Equity Share Break up (Percentage of Total Equity)
As on 20.08.2011
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Category |
Percentage |
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Bodies corporate |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Distributor, Exporter and Importer of Specialty Chemicals. |
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Products : |
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Exports : |
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Products : |
Specialty Chemicals |
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Countries : |
·
Sri Lanka ·
Middle East |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
·
US ·
Europe |
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Terms : |
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Selling : |
Credit (45 days) |
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Purchasing : |
Credit (45 days) |
GENERAL INFORMATION
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Suppliers : |
·
MRF Limited ·
Pidilite |
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Customers : |
Manufacturer ·
Nerolac ·
Dow Corning India Private Limited ·
Exxonmobil Chemical Asia Pacific ·
Asian Paints |
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No. of Employees : |
40 (Approximately) |
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Bankers : |
Citi Bank N A, Trent House, 2nd Floor, G Block, Plot No.
C60, Bandra Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India |
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Facilities : |
Cash Credit – Rs.200.000 Millions
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Jayesh Dadia and Associates Chartered Accountants |
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Address : |
422, Arun Chambers, Tardeo, Mumbai – 400034, Maharashtra, India |
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PAN.: |
AADFJ3735C |
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Associates: |
·
Rishiroop Polymers Private Limited CIN
No.: U24100MH1989PTC054651 ·
Rishichem Mideast Limited ·
Rishi Foods Private Limited CIN
No.: U15490MH2000PTC127013 ·
Rishiroop Holding Private Limited CIN
No.: U67120MH1984PTC032928 ·
Puneet Resins Limited CIN
No.: L25200MH1984PLC034093 |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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200000 |
Equity Shares |
Rs.100/- each |
Rs.20.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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161300 |
Equity Shares |
Rs.100/- each |
Rs.16.130 Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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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 |
16.130 |
8.065 |
8.065 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
151.622 |
107.546 |
64.764 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
167.752 |
115.611 |
72.829 |
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LOAN FUNDS |
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1] Secured Loans |
61.547 |
16.199 |
8.056 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
61.547 |
16.199 |
8.056 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
229.299 |
131.810 |
80.885 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
5.430 |
6.248 |
2.676 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
4.100 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.167 |
0.157 |
0.135 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
207.118
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99.409
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65.617
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Sundry Debtors |
155.397
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134.160
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79.764
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Cash & Bank Balances |
3.332
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2.984
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1.186
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Other Current Assets |
0.000 |
0.000 |
0.000 |
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Loans & Advances |
39.569
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57.577
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19.229
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Total
Current Assets |
405.416
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294.130
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165.796 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Sundry Creditors |
142.843
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110.754
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68.391 |
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Current Liabilities |
5.730
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2.710
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1.915 |
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Provisions |
37.241
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55.261
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17.416 |
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Total
Current Liabilities |
185.814
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168.725
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87.722 |
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Net Current Assets |
219.602
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125.405
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78.074 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
229.299 |
131.810 |
80.885 |
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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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Sales |
1002.300 |
653.180 |
427.080 |
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Other Income |
2.512 |
7.680 |
8.504 |
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TOTAL |
1004.812 |
660.860 |
435.584 |
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Less |
EXPENSES |
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Administrative Expenses |
906.500 |
584.752 |
402.459 |
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Advertising Expenses |
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Financial Expenses |
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Depreciation |
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TOTAL |
906.500 |
584.752 |
402.459 |
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PROFIT BEFORE
TAX |
98.312 |
76.108 |
33.125 |
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Less |
TAX |
33.017 |
25.778 |
11.522 |
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PROFIT AFTER TAX
|
65.295 |
50.330 |
21.603 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
80.846 |
44.564 |
33.622 |
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Less |
APPROPRIATIONS |
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Transfer to General Reserve |
10.000 |
6.500 |
5.000 |
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Dividend |
11.291 |
6.452 |
4.839 |
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Tax on Dividend |
1.863 |
1.096 |
0.822 |
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BALANCE CARRIED
TO THE B/S |
122.987 |
80.846 |
44.564 |
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EARNINGS IN
FOREIGN CURRENCY |
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Export Earnings |
2.338 |
9.725 |
8.974 |
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TOTAL EARNINGS |
2.338 |
9.725 |
8.974 |
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IMPORTS |
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Raw Materials |
693.528 |
406.336 |
230.295 |
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TOTAL IMPORTS |
693.528 |
406.336 |
230.295 |
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Earnings Per
Share (Rs.) |
404.80 |
624.05 |
267.87 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
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PAT / Total
Income |
(%) |
6.50
|
7.61
|
4.95 |
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Net Profit Margin (PBT/Sales) |
(%) |
9.81
|
11.65
|
7.76 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
23.93
|
25.33
|
19.66 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.59
|
0.65
|
0.45 |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.47
|
1.59
|
1.31 |
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Current Ratio (Current Asset/Current Liability) |
|
2.18
|
1.74
|
1.89 |
LOCAL AGENCY FURTHER INFORMATION
Sundry Creditors
Details:
(Rs.
in Millions)
|
Particulars |
31.03.2011
|
31.03.2010
|
31.03.2009 |
|
Creditors due small micro enterprises |
0.000
|
0.000
|
0.000 |
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Creditors due others |
142.843
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110.754
|
68.391 |
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Total |
142.843
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110.754
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68.391 |
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Check List by Info Agents |
Available in Report (Yes / No) |
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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 |
-- |
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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 two years |
Yes |
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12) Profitability for last three years |
No |
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13) Reasons for variation <> 20% |
-- |
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14) Estimation for coming financial year |
Yes |
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15) Capital in the business |
No |
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16) Details of sister concerns |
Yes |
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17) Major suppliers |
Yes |
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18) Major customers |
Yes |
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19) Payments terms |
Yes |
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20) Export / Import details (if applicable) |
No |
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21) Market information |
-- |
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22) Litigations that the firm / promoter |
-- |
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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 |
No |
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28) Incorporation details, if applicable |
-- |
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29) Last accounts filed at ROC |
-- |
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30) Major Shareholders, if available |
-- |
PERFORMANCE
The Company has
performed exceedingly well during the year, the financial performance
highlights are:
·
Net earnings has increased by 29.73 % to Rs.65.290
Millions from Rs. 50.330 Millions last year
·
Sales increased by 53.45 % to Rs. 1002.300 Millions
from Rs. 653.180 Millions last year
The performance is
the result of the initiatives taken by the Company for developing markets for
new product lines jointly with customers and suppliers and with continued focus
on product introductions, process efficiencies and new applications leading to
customers satisfaction in all quarters.
The Directors are
glad to report that they are confident of maintaining this growth rate in the
current economic scenario.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U51900MH1998PTC115640 |
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Name of the
company |
RISHICHEM
DISTRIBUTORS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
65, Atlanta, Nariman Point, Mumbai – 400021, Maharashtra, India Email : akapoor@rishiroop.com |
|
This form is for |
Modification of
charge |
|
Charge
identification (ID) number of the charge to be modified |