MIRA INFORM REPORT
|
Report Date : |
30.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
RUDRAKSH DETERGENT AND CHEMICALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Survey No. 157, Village Padana, Gandhidham - 370201, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
17.08.2005 |
|
|
|
|
Com. Reg. No.: |
04-046622 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 22.600 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24240GJ2005PTC046622 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
RKTR01529D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCR0839C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of Detergent Soaps, Detergent Powder and Soda Ash Speckles etc. Trading of Gas and Logistics Services |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 290000 |
|
|
|
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
Usually Correct |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a part of ‘RUDRAKSH GROUP’. It is an established company
having a satisfactory track record. True appear slight dip in sales during
2011-2012. However, general financial position seems to be good. Trade relations
are reported to be fair. Business is active. Payments are reported to usually
correct and as per commitment. The company can be considered for normal business dealings at usual
trade terms and caution. |
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) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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 Office : |
Survey No. 157, Village Padana, Gandhidham - 370201, Gujarat, India |
|
Tel. No.: |
91-2836-285434 / 35 / 36 / 37 |
|
Mobile No.: |
91-9327106204 (Mr. Mohd. Asif) |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on: 29.09.2012
|
Name : |
Mr. Santosh Ramavtar Goyal |
|
Designation : |
Director |
|
Address : |
P-123, Sector 2, Gandhidham-370201, |
|
Date of Birth : |
24.04.1962 |
|
Date of Appointment : |
17.08.2005 |
|
PAN No.: |
ABOPG7806R |
|
DIN No.: |
00013874 |
|
|
|
|
Name : |
Mr. Sudhadevi Santosh Goyal |
|
Designation : |
Director |
|
Address : |
DBZ-N-64, Gandhidham-370201, Gujarat, India |
|
Date of Birth/Age : |
09.07.1966 |
|
Date of Appointment : |
30.09.2008 |
|
PAN No.: |
ABOPG7813J |
|
DIN No.: |
01690162 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Santosh Ramavtar Goyal |
|
400000 |
|
Sudhadevi Goyal |
|
400000 |
|
Anchal GS oyal |
|
199990 |
|
Shree Jay Minechem Private Limited, India |
|
260000 |
|
Shreeji Propack Private Limited, India |
|
1000000 |
|
Ashish Shah |
|
10 |
|
Total |
|
2260000 |
As on: 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
|
Percentage of Holding |
|
Bodies corporate |
|
55.80 |
|
Directors or relatives of directors |
|
44.20 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Detergent Soaps, Detergent Powder and Soda Ash Speckles etc. Trading of Gas and Logistics Services |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
|
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Banking
Relations : |
-- |
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|
|
|
Financial Institution : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Hiranandani and Company Chartered Accountants |
|
Address : |
Banke Bihari , Plot No 16 Ward 10 B(C), Opposite IFFCO Colony Main Gate , Gandhidham-370201, Gujarat, India |
|
PAN No.: |
AACFH2667N |
|
|
|
|
Related Party : |
CIN No.:U74999GJ2005PTC047333 |
CAPITAL STRUCTURE
As on: 31.03.2012
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 |
|
|
|
|
|
|
2260000 |
Equity Shares |
Rs.10/- each |
Rs. 22.600
Millions |
|
|
|
|
|
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 |
22.600 |
22.600 |
22.600 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
52.338 |
35.770 |
28.140 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
74.938 |
58.370 |
50.740 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
22.767 |
119.007 |
142.836 |
|
|
2] Unsecured Loans |
32.426 |
5.535 |
9.785 |
|
|
TOTAL BORROWING |
55.193 |
124.542 |
152.621 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
130.131 |
182.912 |
203.361 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
134.192 |
125.497 |
155.034 |
|
|
Capital work-in-progress |
0.000 |
3.696 |
3.696 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.350 |
0.350 |
0.010 |
|
|
DEFERREX TAX ASSETS |
19.798 |
11.499 |
10.352 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
87.723
|
68.184 |
77.621 |
|
|
Trade receivable |
48.468
|
58.072 |
45.507 |
|
|
Cash & Bank Balances |
3.180
|
8.320 |
(5.782) |
|
|
Other Current Assets |
0.549
|
1.519 |
0.000 |
|
|
Loans & Advances |
150.227
|
160.938 |
221.703 |
|
Total
Current Assets |
290.147
|
297.033 |
339.049 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
199.044
|
178.892 |
281.570 |
|
|
Other Current Liabilities |
112.605
|
75.128 |
5.730 |
|
|
Provisions |
2.707
|
1.142 |
17.696 |
|
Total
Current Liabilities |
314.356
|
255.163 |
304.996 |
|
|
Net Current Assets |
(24.209)
|
41.870 |
34.053 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
130.131 |
182.912 |
203.361 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1566.375 |
1788.194 |
1920.472 |
|
|
|
Other Income |
4.200 |
1.983 |
|
|
|
|
TOTAL |
1570.575 |
1790.177 |
1920.472 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
1741.115 |
1854.423 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
1520.639 |
1741.115 |
1854.423 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
49.936 |
49.062 |
66.049 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
26.697 |
37.856 |
41.078 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
23.239 |
11.206 |
24.971 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(1.209) |
3.577 |
8.802 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
24.448 |
7.629 |
16.169 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
19.869 |
12.240 |
NA |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
2.444 |
0.000 |
NA |
|
|
|
Interim Dividend |
7.880 |
0.000 |
NA |
|
|
BALANCE CARRIED
TO THE B/S |
33.993 |
19.869 |
NA |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
34.204 |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
10.82 |
3.38 |
0.71 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.56 |
0.43 |
0.84 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.48 |
0.63 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.48 |
2.65 |
5.05 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.31 |
0.19 |
0.49 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.74 |
2.13 |
3.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.92 |
1.16 |
1.11 |
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 |
Yes |
|
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 |
FINANCIAL RESULTS
During current financial year Gross Revenue of the company has decreased by 12.38% i.e Rs. 1566.375 millions, compared to Rs. 1787.768 millions, in the previous year. The company earned a Net surplus of Rs. 15.360 millions, after the payment of Interim Dividend. Further, the company has transferred Rs. 2.445 millions to general reserve in complaince to the Companies (Transfer of Profits to Reserves) Rules, 1975.
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Loans repayable on demand from banks |
22.311 |
0.000 |
|
Loans repayable on demand from others |
7.615 |
5.535 |
|
Intercorporate borrowings |
2.500 |
0.000 |
|
Total |
32.426 |
5.535 |
Bankers Charges
Report as per Registry
|
Corporate identity
number (CIN) or foreign company registration
number of the company |
U24240GJ2005PTC046622 |
|
Name of the
company |
RUDRAKSH
DETERGENT AND CHEMICALS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
Survey No.157,
Village: Padana, Gandhidham, Gujarat – 370201, India E-mail: opjangir@shreeji-group.com |
|
This form is for |
Creation of
charge |
|
Type of charge |
Immovable
property |
|
Particular of
charge holder |
The Cosmos
Co-Operative Bank Ltd., Office No. 1, 2 And 3, Plot No. 240, Ward 12/B, Gandhidham, Gujarat – 370201,
India E-mail
ID - jagdish.chavda@cosmosbank.in
|
|
Nature of
instrument creating charge |
Indenture Of
Mortgage |
|
Date of
instrument Creating the charge |
06.06.2012 |
|
Amount secured by
the charge |
Rs. 78.900 Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest CC: 15% p.a. As per present credit rating Term loan of Rs. 8.900 millions: 15% p.a. As per present credit rating Term loan of Rs. 20.000 millions: 15% p.a. As per present credit
rating Terms of repayment CC: repayable on demand Term loan of Rs 8.900 millions:
repayable in 28 monthly instalment of Rs. 3.790 millions Term loan of Rs 200 millions:
repayable in 60 monthly instalment of Rs. 4.760 millions Margin CC: 25% in banks favour Term loan of Rs. 8.900 millions: 25% in banks favour Term loan of Rs. 20.000 millions: 25% in banks favour Extent and operation of the charge The charge shall operate as first charge in favor of cosmos co-operative
bank to secure the principal amount together with interest, additional
interest and all other moneys payable by the company to the cosmos
co-operative bank. Others Bifurcation of total limit of Rs.78.900 millions is as under: Cash credit of Rs 50.000 millions Term loan of Rs 8.900 millions Term loan of Rs 20.000 millions |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Simple Regd
Mortgage Of All That Immovable Property Being Industrial Plot Of Lands
Bearing Plot No.2 To 8 Of Survey No. 157, Village Padana Taluka Gandhidham Kachchh. |
Fixed Assets
- Factory Buildings
- Land
- Computers
- Air Conditioner
- Plant and Equipments
- Furniture and Fixture
- Vehicles
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. 54.28 |
|
|
1 |
Rs. 84.23 |
|
Euro |
1 |
Rs. 70.90 |
INFORMATION DETAILS
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
44 |
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.