MIRA
INFORM REPORT
|
Report Date : |
03.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
RAM-NATH AND COMPANY PRIVATE LIMITED |
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Registered
Office : |
C 16 and 17, Thiru VI Ka Industrial Estate, Guindy Chennai – 600032,
Tamilnadu |
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Country : |
India |
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|
Financials (as on)
: |
31.03.2012 |
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Date of
Incorporation : |
26.05.1998 |
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Com. Reg. No.: |
18-040557 |
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Capital
Investment / Paid-up Capital : |
Rs. 60.000
Millions |
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|
|
CIN No.: [Company Identification
No.] |
U24131TN1998PTC040557 |
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|
PAN No.: [Permanent Account No.] |
AABCR2080F |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Dealer of Industrial Chemicals, Plastics and Specialities. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 776000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a satisfactory track record. Trade
relations are decent. 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.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered/ Corporate Office : |
C 16 and 17, Thiru VI Ka Industrial Estate, Guindy Chennai – 600032,
Tamilnadu, India |
|
Tel. No.: |
91-44-22502022-25/ 22314754/ 22314755/ 22317883/ 22317884 |
|
Fax No.: |
91-44-22502021/ 22311395 |
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E-Mail : |
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Website : |
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Branches : |
Located at : Ř Coimbatore Ř Vijayawada Ř Secunderabad Ř Madurai Ř Visakhapatnam Ř Cochin Ř Pondicherry Ř Bangalore |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. N Venkateswaran |
|
Designation : |
Managing director |
|
Address : |
No. 53, Bishop Gardens, R A Puram, Chennai – 600028, Tamilnadu, India |
|
Date of Birth/Age : |
01.01.1938 |
|
Date of Appointment : |
26.05.1998 |
|
PAN No.: |
AABPV2834N |
|
DIN No.: |
00052452 |
|
|
|
|
Name : |
Mrs. Vasumathi Rajaram |
|
Designation : |
Director |
|
Address : |
14, 5th Cross Street, CIT Colony, Chennai - 600004,
Tamilnadu, India |
|
Date of Birth/Age : |
24.01.1959 |
|
Date of Appointment : |
28.05.1998 |
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PAN No.: |
ABBPV5556A |
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DIN No.: |
00052400 |
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|
Name : |
Mrs. Sobana Srinivasan |
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Designation : |
Director |
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Address : |
Flat No. 304, 3rd Floor, Padmaja Plaza, Street No. House
No. 10-2.279, West Marredpally, Secunderabad – 560026, Andhra Pradesh, India |
|
Date of Birth/Age : |
01.06.1972 |
|
Date of Appointment : |
01.04.2002 |
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PAN No.: |
ALEPS8560Q |
|
DIN No.: |
00324267 |
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|
|
|
Name : |
Mr. K A Srinivasan |
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Designation : |
Director |
|
Address : |
Flat No. 304, 3rd Floor, Padmaja Plaza, House No. 10-2.279,
West Marredpally, Secunderabad – 560026, Andhra Pradesh, India |
|
Date of Birth/Age : |
28.06.1967 |
|
Date of Appointment : |
28.01.2001 |
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PAN No.: |
ANHPS3951L |
|
DIN No.: |
00052421 |
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|
|
|
Name : |
Mr. Venkateswaran Harinarayanan |
|
Designation : |
Director |
|
Address : |
No. 53, Bishop Gardens, R A Puram, Chennai – 600028, Tamilnadu, India |
|
Date of Birth/Age : |
07.10.1968 |
|
Date of Appointment : |
26.05.1998 |
|
PAN No.: |
AAAPH3900L |
|
DIN No.: |
00241720 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
No. of Shares |
|
|
855000 |
|
Jaya Venkateswaran |
292500 |
|
V Harinarayanan |
855000 |
|
Vasumathi Rajaram |
855000 |
|
Gomathi D Sarma |
900000 |
|
K A Srinivasan |
222750 |
|
Sobana Srinivasan |
849750 |
|
Alamelu Balasubramaniam |
585000 |
|
Annapoorani Subramaniam |
585000 |
|
|
|
|
Total |
6000000 |
AS ON 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Dealer of Industrial Chemicals, Plastics and Specialities. |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
Ř DBS Bank
Limited, 806, Anna Salai, Chennai - 600002, Tamilnadu, India Ř ICICI Bank Limited,
Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India Ř Axis Bank
Limited Ř Karur Vysya Bank Ř Oriental Bank of
Commerce |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
K. S.
Jagannathan and Company Chartered Accountants |
|
Address : |
Old No. 3, New
No. 10, Bharatih Nagar, II Street, T. Nagar, Chennai – 600017, Tamilnadu,
India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAEFK0647F |
|
|
|
|
Associates : |
Ř Med Equip Ř Ram - Nath
Technology Services Private Limited [U72900TN2007PTC063493] |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 60.000
Millions |
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|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
60.000 |
60.000 |
60.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
134.117 |
117.573 |
96.367 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
194.117 |
177.573 |
156.367 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
181.309 |
216.519 |
170.882 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
3.581 |
|
|
TOTAL BORROWING |
181.309 |
216.519 |
174.463 |
|
|
DEFERRED TAX LIABILITIES |
4.561 |
5.535 |
6.305 |
|
|
|
|
|
|
|
|
TOTAL |
379.987 |
399.627 |
337.135 |
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
31.695 |
34.316 |
34.800 |
|
|
Capital work-in-progress |
18.044 |
14.792 |
10.938 |
|
|
|
|
|
|
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|
INVESTMENT |
0.000 |
32.520 |
55.299 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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|
Inventories |
83.684
|
38.232 |
26.288 |
|
|
Sundry Debtors |
386.746
|
317.536 |
242.075 |
|
|
Cash & Bank Balances |
59.948
|
20.861 |
44.213 |
|
|
Other Current Assets |
0.638
|
0.267 |
0.000 |
|
|
Loans & Advances |
39.288
|
38.217 |
60.831 |
|
Total
Current Assets |
570.304
|
415.113 |
373.407 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
232.110
|
93.559 |
106.578 |
|
|
Other Current Liabilities |
1.951
|
3.463 |
1.887 |
|
|
Provisions |
5.995
|
0.092 |
28.850 |
|
Total
Current Liabilities |
240.056
|
97.114 |
137.315 |
|
|
Net Current Assets |
330.248
|
317.999 |
236.092 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.006 |
|
|
|
|
|
|
|
|
TOTAL |
379.987 |
399.627 |
337.135 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
13.682 |
11.009 |
9.070 |
|
|
|
Other Income |
N.A. |
N.A. |
N.A. |
|
|
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TOTAL |
N.A. |
N.A. |
N.A. |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
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|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
N.A. |
N.A. |
N.A. |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
36.514 |
34.476 |
34.118 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
4.060 |
4.341 |
4.255 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
32.454 |
30.135 |
29.863 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
9.983 |
8.929 |
9.852 |
|
|
|
|
|
|
|
|
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|
PROFIT AFTER TAX
|
22.471 |
21.206 |
20.011 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
7.961 |
3.321 |
0.000 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.75 |
3.53 |
3.34 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Net Profit Margin (PBT/Sales) |
(%) |
237.20
|
273.73 |
329.25 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.39
|
6.71 |
7.32 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17
|
0.17 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.93
|
1.22 |
1.12 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.38
|
4.27 |
2.72 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
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 |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
Note:
The registered office of the company has been shifted from 38, Cathedral
Road, Chennai – 600086, Tamilnadu, India to the present w.e.f.24.04.2006
BACKGROUND
Ram - Nath and
Company Private Limited (the Company) was incorporated on 26th May 1998. The
Company is a dealer in Industrial Chemicals, plastics and specialities.
PERFORMANCE:
The working results
during the year. There was an increase of 24 % in Sales (Current years turnover
Rs 1368.200 Millions) over the previous year (Rs. 1100.900 Millions) of the
company. The net profit after providing for taxes is Rs.22.400 Millions and has
increased by 6 % when compared to the previous year.
They are active in
their efforts in entering into strategic alliances with overseas suppliers for
handling newer products and they are expected to materialize during the ensuing
year
They will pursue
the Company’s objective EXCELLENCE THROUGH COMMITMENT and strive to improve the
business by setting New Goals and achieve them on a time bound frame.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U24131TN1998PTC040557 |
|
Name of the
company |
RAM-NATH AND
COMPANY PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
C 16 and 17, Thiru VI Ka Industrial Estate, Guindy Chennai – 600032,
Tamilnadu, India Email: chennai@ram-nath.com |
|
This form is for |
Creation of charge |
|
Type of charge |
Book debts Others [Stock] |
|
Particular of
charge holder |
DBS Bank Limited, 806, Anna Salai, Chennai - 600002, Tamilnadu, India Email: anilthomas@dbs.com |
|
Nature of
description of the instrument creating or modifying the charge |
Deed of
Hypothecation Dated 18-03-2013 |
|
Date of
instrument Creating the charge |
18.03.2013 |
|
Amount secured by
the charge |
Rs. 309.600
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As per sanctioned
terms Terms of Repayment As per sanctioned
terms Margin 25% of Hypothecated
Goods and Debts. Extent and Operation of the charge 100% |
|
Short particulars
of the property charged |
First parri passu
charge on the goods being finished goods, semi-finished goods, stocks of Raw materials,
WIP located at various factories / warehouses / godowns of the Counterparty. On the
Counterparty's present and future book debts, outstanding monies receivables,
claims, bills, contracts, engagements, securities, investments, rights and
assets other than loans and advances. |
FIXED ASSETS:
Ř
Land
Ř
Buildings
Ř
Plant and equipment
Ř
Furniture and fixtures
Ř
Vehicles
Ř
Ships vessels
Ř
Motor vehicles
Ř
Office equipment
Ř
Computer equipments
Ř
Other equipments
Ř Computer 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 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 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. 54.33 |
|
|
1 |
Rs. 82.72 |
|
Euro |
1 |
Rs. 69.82 |
INFORMATION DETAILS
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
49 |
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.