|
Report Date : |
15.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
RIKA GLOBAL IMPEX LIMITED (w.e.f
29.07.2008) |
|
|
|
|
Formerly Known
As : |
R. PIYARELALL GLOBAL IMPEX LIMITED |
|
|
|
|
Registered
Office : |
734, Marshall House, 25, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
10.07.2007 |
|
|
|
|
Com. Reg. No.: |
21-117031 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 6.210
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51101WB2007PLC117031 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader, Exporter and Importer of food grains and Non Agricultural
Products like Cements, Timber Iron, Ores, Coal etc. |
|
|
|
|
No. of Employees
: |
65 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. 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.
INFORMATION PARTED BY (GENERAL DETIALS)
|
Name : |
Mr. Promod |
|
Designation : |
Chief Accountant |
|
Date : |
14.5.2012 |
LOCATIONS
|
Registered Office : |
734, Marshall House, 25, |
|
Tel. No.: |
91-33-22315550 / 51 |
|
Mobile No.: |
91-9820216374 (Mr. Karan Agarwal) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Corporate Office
: |
1102, Embassy Centre, Nariman Point, Mumbai-400 021, |
|
Tel. No.: |
91-22-43335444/ 66308597 |
|
Fax No.: |
91-22-66308597 |
|
|
|
|
|
12, |
|
Tel. No.: |
91-11-2336 4195 |
|
Fax No.: |
91-11-2374 6455 |
|
E-Mail : |
|
|
|
|
|
Tuticorin Office
: |
5, |
|
E-Mail : |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Suresh Kumar Agarwal |
|
Designation : |
Director |
|
Address : |
5, |
|
Date of Birth/Age : |
19.04.1958 |
|
Date of Appointment : |
10.07.2007 |
|
|
|
|
Name : |
Mr. Karan Agarwal |
|
Designation : |
Director |
|
Address : |
5, |
|
Date of Birth/Age : |
07.06.1984 |
|
Date of Appointment : |
10.07.2007 |
|
|
|
|
Name : |
Mr. Rishi Agarwal |
|
Designation : |
Director |
|
Address : |
5, |
|
Date of Birth/Age : |
26.01.1988 |
|
Date of Appointment : |
10.07.2007 |
|
|
|
|
Name : |
Mr. Jaysing Ramchandra Satpute |
|
Designation : |
Director |
|
Address : |
402/A, 4th Floor, Green Wood Chikoo Wadi, Borivali (West), Mumbai-400
092, Maharashtra, |
|
Date of Birth/Age : |
07.02.1957 |
|
Date of Appointment : |
12.03.2009 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Suresh Kumar Agarwal |
|
21000 |
|
Karan Agarwal |
|
10000 |
|
Rishi Agarwal |
|
1000 |
|
Usha Agarwal |
|
21000 |
|
Narendra Rajgharhia |
|
19888 |
|
Pratik Rajgharhia |
|
1000 |
|
Vinod Kumar Arya |
|
100 |
|
Balajee Vinimay Private Limited, |
|
264312 |
|
Nupur Vinimay Private Limited, |
|
152800 |
|
Uma Vinimay Private Limited, |
|
129900 |
|
Total
|
|
621000 |
As on 01.10.2011
|
Names of Allottees |
|
No. of Shares
allotted |
|
Narendra Rajgarahi |
|
18888 |
|
Nupur Vinimay Private Limited, |
|
17800 |
|
Uma Vinimay Private Limited, |
|
10000 |
|
Balajee Vinimay Private Limited, |
|
64312 |
|
Total
|
|
111000 |
As on 29.02.2012
|
Names of Allottees |
|
No. of Shares
allotted |
|
Rishi Agarwal |
|
33000 |
|
Total
|
|
33000 |
As on 30.09.2011
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Bodies corporate |
|
88.09 |
|
Directors or relatives of directors |
|
11.91 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader, Exporter and Importer of food grains and Non Agricultural
Products like Cements, Timber Iron, Ores, Coal etc. |
|
|
|
|
Products : |
|
|
|
|
|
Exports : |
|
|
Products : |
|
|
Countries : |
African Countries |
|
|
|
|
Imports : |
|
|
Products : |
|
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
L/C / Cash |
|
|
|
|
Purchasing : |
L/C / Cash |
GENERAL INFORMATION
|
Customers : |
Wholesaler, Manufacturer and Other |
|||||||||
|
|
|
|||||||||
|
No. of Employees : |
65 (Approximately) |
|||||||||
|
|
|
|||||||||
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Bankers : |
|
|||||||||
|
|
|
|||||||||
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
V. Singhi and Associates Chartered Accountants |
|
Address : |
23, |
|
Pan No.: |
AABFV8971C |
|
|
|
|
Associates/Subsidiaries : |
|
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4000000 |
Equity Shares |
Rs. 10/- each |
Rs. 40.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
621000 |
Equity Shares |
Rs. 10/- each |
Rs. 6.210
Millions |
|
|
|
|
|
After 30.09.2011
Authorised Capital: 40.000 Millions
Issued, Subscribed & Paid-up Capital:
21.060 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 |
5.100 |
5.100 |
0.551 |
|
|
2] Share Application Money |
48.735 |
41.855 |
146.863 |
|
|
3] Reserves & Surplus |
217.008 |
188.559 |
17.130 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
270.843 |
235.514 |
164.544 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
158.153 |
2.003 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
158.153 |
2.003 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
428.996 |
237.517 |
164.544 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
23.883 |
20.710 |
13.319 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.022 |
0.022 |
0.002 |
|
|
DEFERREX TAX ASSETS |
0.953 |
0.355 |
1.772 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1120.242
|
106.938
|
6.302
|
|
|
Sundry Debtors |
619.396
|
481.556
|
65.567
|
|
|
Cash & Bank Balances |
84.305
|
67.272
|
62.369
|
|
|
Other Current Assets |
0.375
|
0.193
|
0.000
|
|
|
Loans & Advances |
75.927
|
45.568
|
46.526
|
|
Total
Current Assets |
1900.245
|
701.527
|
180.764
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
1274.317
|
199.656
|
14.933 |
|
|
Other Current Liabilities |
173.982
|
257.605
|
3.586
|
|
|
Provisions |
47.850
|
27.920
|
12.920
|
|
Total
Current Liabilities |
1496.149
|
485.181
|
31.439
|
|
|
Net Current Assets |
404.096
|
216.346
|
149.325
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.042 |
0.084 |
0.126 |
|
|
|
|
|
|
|
|
TOTAL |
428.996 |
237.517 |
164.544 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4894.259 |
3998.124 |
2085.820 |
|
|
|
Other Income |
100.051 |
16.307 |
18.025 |
|
|
|
TOTAL (A) |
4994.310 |
4014.431 |
2103.845 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
4523.814 |
3656.661 |
1878.366 |
|
|
|
Expenses |
405.525 |
291.663 |
179.594 |
|
|
|
TOTAL (B) |
4929.339 |
3948.324 |
2057.960 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
64.971 |
66.107 |
45.885 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
8.907 |
15.632 |
21.325 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
56.064 |
50.475 |
24.560 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
6.018 |
3.648 |
2.898 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
50.046 |
46.827 |
21.662 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
21.597 |
16.417 |
9.053 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
28.449 |
30.410 |
12.609 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
47.540 |
17.130 |
4.521 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
75.989 |
47.540 |
17.130 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
2251.604 |
1175.487 |
559.693 |
|
|
TOTAL EARNINGS |
2251.604 |
1175.487 |
559.693 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
854.969 |
616.628 |
28.368 |
|
|
TOTAL IMPORTS |
854.969 |
616.628 |
28.368 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
55.78 |
127.29 |
228.84 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.57
|
0.76
|
0.60 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.02
|
1.17
|
1.04 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.60
|
6.48
|
11.16 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
0.20
|
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
6.11
|
2.07
|
0.19 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.27
|
1.45
|
5.75 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
Rs. In Millions 31.03.2011 |
Rs. In Millions 31.03.2010 |
Rs. In Millions 31.03.2009 |
|
|
|
|
|
|
Creditors due small micro enterprises |
0.000 |
0.000 |
0.000 |
|
Creditors due others |
1274.317
|
199.656
|
14.933 |
|
Total |
1274.317 |
199.656 |
14.933 |
|
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 |
Yes |
|
Designation of Contact person |
Yes |
|
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 |
Yes |
|
Export/ Imports Details (If applicable) |
Yes |
|
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 |
Bankers Charges:
|
Corporate
identity number of the company |
U51101WB2007PLC117031 |
|
Name of the
company |
RIKA GLOBAL IMPEX
LIMITED |
|
Address of the
registered office or of the principal place of business in |
734, Marshall House, |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10173839 |
|
Type of charge |
Book Debts Movable Property
(not being pledge) Others |
|
Number of charge
holder (s) |
1 |
|
Particular of
charge holder |
Oriental Bank of Commerce Limited, Overseas Branch, Dalmal Towers, ‘B’
Wing, Ground Floor, Nariman Point, Mumbai-400021, Maharashtra, India. Email: emailroc@rediffmail.com
|
|
Nature of
description of the instrument creating or modifying the charge |
Supplemental
Agreement to Secure Credit / Loan Facilities |
|
Date of
instrument Creating the charge |
08.11.2011 |
|
Amount secured by
the charge |
Rs. 1247.500
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest rate and
Penal interest rate as agreed between the borrower company and the bank from
time to time. Terms of Repayment Repayment, as
agreed between the borrower company and the bank from time to time. Margin Margin Rate, as
agreed between the borrower company and the bank from time to time. Extent and Operation of the charge At the request of
the borrower company, the bank has revised overall banking limits upto Rs.
1247.500 Millions against Hypothecation of stocks of raw material of food
grains cereals, stock in process, finished goods, stores and spares and other
trade related items, advance to suppliers and receivables, Documents of title
to goods in case of L/C on DP basis, goods in case of L/C on DA basis. The charge stands
modified upto Rs. 1247.500 Millions |
|
Short particulars
of the property charged |
1. Hypothecation of stocks of raw material of
food grains cereals , stock in process, finished goods, stores and spares and
other trade related items, advance to suppliers and receivables 2. Foreign documentary demand/usance bill
having maximum usance of 60 days accompanied by airway bills/bill of lading
evidencing dispatch of goods and drawn under irrevocable letter of credit. 3. Advances under Whole Turn Over Packing
Credit Guarantees 4. Documents of title to goods in case of L/C
on DP basis 5. Hypothecation charge over the goods in
case of L/C on DA basis. |
|
Particulars of
the present modification |
At the request of
the borrower company, the bank has revised overall banking limits upto Rs.
1247.500 Millions against Hypothecation of stocks of raw material of food
grains cereals, stock in process, finished goods, stores and spares and other
trade related items, advance to suppliers and receivables, Documents of title
to goods in case of L/C on DP basis, goods in case of L/C on DA basis. The charge stands
modified upto Rs. 1247.500 Millions |
FIXED ASSETS:
·
Furniture and Fixture
·
Water Heater and Xerox
Machine
·
Air Conditioner and
Refrigerators
·
Mobile Phone
·
Computer and Router
·
Motor Car and Motor Cycle
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. 53.71 |
|
|
1 |
Rs. 86.34 |
|
Euro |
1 |
Rs. 69.22 |
INFORMATION DETAILS
|
Information
Gathered by : |
SBA |
|
|
|
|
Report Prepared
by : |
ACH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
43 |
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.