|
Report Date : |
10.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
RUKMONI BOARDS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Door No.RG-5 (New No.62) No.1, Cooks Road, Binny Mills, Perambur,
Chennai – 600012, Tamilnadu |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
25.08.2004 |
|
|
|
|
Com. Reg. No.: |
18-054071 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.3.927 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U21093TN2004PTC054071 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHER07375E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCR8061M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer and Exporter of all types of Plywood Products. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 24000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. 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
cautions. |
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) |
|
|
A1 |
A1 |
|
|
|
|
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
Door No.RG-5 (New No.62) No.1, Cooks Road, Binny Mills, Perambur,
Chennai – 600012, Tamilnadu, India |
|
Tel. No.: |
91-44-26622888/ 42052338/ 43237736 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
(AS ON 30.09.2011)
|
Name : |
Mr. Mahadev Lal Agrawal |
|
Designation : |
Director |
|
Address : |
No.283, Sydenhams Road, Choolai, Chennai – 600112, Tamilnadu, India |
|
Date of Birth/Age : |
06.01.1961 |
|
Date of Appointment : |
25.08.2004 |
|
DIN No.: |
01032446 |
|
|
|
|
Name : |
Mr. Satyanarayan Agarwal |
|
Designation : |
Director |
|
Address : |
No.283, Sydenhams Road, Choolai, Cheenai – 600112, Tamilnadu, India |
|
Date of Birth/Age : |
13.05.1963 |
|
Date of Appointment : |
25.08.2004 |
|
DIN No.: |
01147978 |
|
|
|
|
Name : |
Mrs. Sharda Khemka |
|
Designation : |
Director |
|
Address : |
No.283, Sydenhams Road, Choolai, Cheenai – 600112, Tamilnadu, India |
|
Date of Birth/Age : |
20.08.1971 |
|
Date of Appointment : |
25.08.2004 |
|
DIN No.: |
01168992 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2011)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Mahadev Lal Agrawal |
|
33000 |
|
Agarwal Satyanarayan |
|
41500 |
|
Sharda Khemka |
|
20000 |
|
Lalitha K. |
|
1000 |
|
Padma Agrawal |
|
15000 |
|
Motilal Agrawal |
|
30000 |
|
Ramesh Agrawal |
|
15000 |
|
Raj Sekhar |
|
1000 |
|
Dr. Manish Satsangi |
|
4500 |
|
Kamal Sharma |
|
4200 |
|
Ramabtar Jain |
|
4000 |
|
Sunita Jain |
|
4500 |
|
Sarita Agrawal |
|
9000 |
|
Kasturi Khemka |
|
8500 |
|
Badri Prasad Sharma |
|
4500 |
|
Umesh Agrawal |
|
10000 |
(AS ON 30.09.2011)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
32.00 |
|
Other top fifty shareholders |
|
68.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of all types of Plywood Products. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
· Bank of Baroda Purasawalkam Branch, Chennai – 600007, Tamilnadu, India |
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Facilities : |
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
R. R. More and Company Chartered Accountant |
|
Address : |
356, Mint Street, II Floor, Sowcarpet, Chennai – 600079, Tamilnadu,
India |
|
PAN No.: |
AAJPM4999F |
|
|
|
|
Other Related Companies : |
· Konarak Plyland · Khemka Timbers and Plywoods · Khemka Plyland – Bangalore · Krishna Plywoods and Laminates |
CAPITAL STRUCTURE
(AS ON 30.09.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
400000 |
Equity Shares |
Rs.10/- each |
Rs.4.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
392700 |
Equity Shares |
Rs.10/- each |
Rs.3.927
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
3.927 |
3.927 |
3.927 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2.101 |
1.467 |
0.920 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
6.028 |
5.394 |
4.847 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2.140 |
2.841 |
1.596 |
|
|
2] Unsecured Loans |
19.231 |
15.756 |
11.137 |
|
|
TOTAL BORROWING |
21.371 |
18.597 |
12.733 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
27.399 |
23.991 |
17.580 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.746 |
0.301 |
0.277 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.026 |
0.026 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
16.509
|
13.644 |
9.862 |
|
|
Sundry Debtors |
13.629
|
17.350 |
13.266 |
|
|
Cash & Bank Balances |
0.773
|
0.623 |
0.614 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
2.527
|
1.842 |
0.661 |
|
Total
Current Assets |
33.438
|
33.459 |
24.403 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
5.787
|
7.973 |
5.474 |
|
|
Other Current Liabilities |
0.951
|
1.585 |
1.450 |
|
|
Provisions |
0.051
|
0.247 |
0.217 |
|
Total
Current Liabilities |
6.789
|
9.805 |
7.141 |
|
|
Net Current Assets |
26.649
|
23.654 |
17.262 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.004 |
0.010 |
0.015 |
|
|
|
|
|
|
|
|
TOTAL |
27.399 |
23.991 |
17.580 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
107.241 |
85.976 |
74.056 |
|
|
|
Other Income |
0.717 |
0.634 |
0.139 |
|
|
|
TOTAL |
107.958 |
86.610 |
74.195 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
106.763 |
85.709 |
73.513 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
1.195 |
0.901 |
0.682 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.223 |
0.098 |
0.091 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
0.972 |
0.803 |
0.591 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.338 |
0.256 |
0.226 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
0.634 |
0.547 |
0.365 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1.467 |
0.920 |
0.555 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
2.101 |
1.467 |
0.920 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.61 |
1.39 |
0.93 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.59
|
0.63 |
0.49 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.91
|
0.93 |
0.80 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.84
|
2.38 |
2.39 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16
|
0.15 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.67
|
5.27 |
4.10 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.93
|
3.41 |
3.42 |
LOCAL AGENCY FURTHER INFORMATION
|
Check list by info
Agents |
Available in Report (Yes/ No) |
|
|
|
|
Year of Establishment |
Yes |
|
Locality of the Firm |
Yes |
|
Constitution of the Firm |
Yes |
|
Premises details |
No |
|
Type of Business |
Yes |
|
Line of Business |
Yes |
|
Promoter’s Background |
Yes |
|
No. of Employees |
Yes |
|
Name of Person Contacted |
No |
|
Designation of Contact person |
No |
|
Turnover of Firm for last three years |
Yes |
|
Profitability for last three years |
Yes |
|
Reasons for variation <> 20% |
----- |
|
Estimation for coming financial year |
No |
|
Capital in the business |
Yes |
|
Details of sister concerns |
Yes |
|
Major Suppliers |
No |
|
Major Customers |
No |
|
Payments Terms |
No |
|
Export/ Imports Details (If applicable) |
No |
|
Market Information |
----- |
|
Litigations that the firm/ Promoters Involved in |
----- |
|
Banking details |
Yes |
|
Banking Facility Details |
Yes |
|
Conduct of the Banking Account |
----- |
|
Buyer visit details |
----- |
|
Financials, if provided |
Yes |
|
Incorporation details is applicable |
Yes |
|
Last Accounts filed at ROC |
Yes |
|
Major Shareholders, if available |
Yes |
NOTE:
The Registered office of the company has been
shifted from Old No.1, New No.3, Basin Bridge Road, Mint, Chennai – 600079, Tamilnadu,
India, to the present address w.e.f. 12.10.2009.
OPERATIONS:
The Performance of the company for the year
has been satisfactory in comparison to market situation. The company has achieved
a turnover of Rs.107.241 Millions (Previous year Rs.85.976 Millions)
FORM 8:
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10126163 |
|
Corporate
identity number of the company |
U21093TN2004PTC054071 |
|
Name of the
company |
RUKMONI BOARDS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Old No.1, New
No.3, Basin Bridge Road, Mint, Chennai – 600079, Tamilnadu, India |
|
Type of charge |
Book Debts Movable Property |
|
Particular of
charge holder |
· Bank of Baroda Purasawalkam Branch, Chennai – 600007, Tamilnadu, India |
|
Nature of description
of the instrument creating or modifying the charge |
Supplemental
Composite Agreement of Hypothecation of Goods, Book-Debts, Movable Machinery
and Vehicles. |
|
Date of
instrument Creating the charge |
31.01.2009 |
|
Amount secured by
the charge |
Rs.22.500
Millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest Cash Credit:
Interest @ 1.50% over BPLR i.e. presently 14.00% p.a. with monthly rests. Letter of Credit:
Commission: As per the Bank's service charges. Terms of
Repayment Working Capital :
On Demand Margin Cash Credit : 25% Letter of Credit:
15% Extent and
Operation of the charge As mentioned in
the Agreement Others Facilities (Rs. in. Millions) Cash Credit
(Hypothecation of Stocks and Book Debts) Rs.2.500 Millions Letter of Credit
- DA (110 days usance)
Rs.20.000 Millions
-------------------------- Total
Rs.22.500 Millions
-------------------------- |
|
Short particulars
of the property charged |
The existing
charge on the Current Assets such as Raw Materials, Semi Finished Goods,
Finished Goods, Consumable spares and packaging materials, all the
Book-Debts, movable machinery of the Company, including all stores and spare
parts both present and future. |
|
Particulars of
the present modification |
By the present
modification the overall limit has been enhanced to Rs.22.500 Millions and
the existing charge on the Current Assets belonging to the Company, more
fully described in the Field No.14 above, shall continue to secure the
present enhanced limit, together with interests, costs, charges and other
expenses. |
FIXED ASSETS:
· Furniture and Fixture
· Computer
· Two Wheeler
· Car (Opel Corsa)
· Car (Maruti Dezir)
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.53.46 |
|
|
1 |
Rs.86.27 |
|
Euro |
1 |
Rs.69.40 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
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 |
2 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
29 |
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.