1. Summary Information
|
Country |
India |
||
|
Company Name |
R R TRADING
COMPANY |
Principal Name 1 |
Mr. Rattan Lal |
|
Status |
Small Concern |
Principal Name 2 |
Mr. Atul Bindal |
|
Registration # |
-- |
||
|
Street Address |
414, Somdutt
Chamber, 2nd Bhikaji Kama Place, New Delhi – 110016, India |
||
|
Established year
|
1992 |
SIC Code |
-- |
|
Telephone# |
91-11-26162722 |
Business Style 1 |
Trader |
|
Fax # |
91-11-26866386 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Coated Man-Made Fabric |
|
|
# of employees |
12
(Approximately) |
Product Name 2 |
Woollen Card
Clothing |
|
Capital Investment |
Rs.1,774,000 /- |
Product Name 3 |
-- |
|
Shareholders |
-- |
Banking |
IDBI Bank Limited |
|
Public Limited Corp. |
No |
Business Period |
21 Years |
|
IPO |
No |
International Ins. |
-- |
|
Public |
No |
Rating |
B (26) |
|
Related
Company |
|||
|
Relation |
Country
|
Company
Name |
CEO |
|
Associates |
|
Ashton
International Private Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
-- |
Current Liabilities |
-- |
|
Inventories |
-- |
Long-term Liabilities |
-- |
|
Fixed Assets |
-- |
Other Liabilities |
-- |
|
Deferred Assets |
-- |
Total Liabilities |
-- |
|
Invest& other Assets |
-- |
Retained Earnings |
-- |
|
|
|
Net Worth |
-- |
|
Total Assets |
-- |
Total Liab. & Equity |
-- |
|
Total Assets (Previous Year) |
-- |
|
|
|
P/L Statement as of |
31.03.2013 |
|
|
|
Sales |
2,900,000 |
Net Profit / (Loss) |
NA |
|
Sales(Previous yr) |
2,299,000 |
Net Profit
/ (Loss) (Prev.yr) |
148,000 |
MIRA INFORM REPORT
|
Report Date : |
17.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
R R TRADING COMPANY |
|
|
|
|
Registered Office : |
414, Somdutt Chamber, 2nd Bhikaji Kama Place, New
Delhi-110016 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2013 |
|
|
|
|
Year of Establishment : |
1992 |
|
|
|
|
Capital Investment / Paid-up Capital : |
Rs.1.774 Millions (As on 31.03.2012) |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELR11554E |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAEFR1072K |
|
|
|
|
Legal Form : |
Partnership concern
with an unlimited liability of the partners |
|
|
|
|
Line of Business : |
Trader of Coated
Man-Made Fabric, Woollen Card Clothing, etc. |
|
|
|
|
No. of Employees
: |
12 (Approximately) [In Office] |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 7000 |
|
|
|
|
Status : |
Small concern |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a small partnership concern in its field. Its scale of
activities are limited. Trade relations are reported as fair. Business is
active. Payments are reported to be slow. The concern 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
We are living in a
world where volatility and uncertainty have become the New Normal. We saw a
change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once
powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in agriculture,
industry and services. Dampening sentiment led to a cut-back in investment as
well as private consumption expenditure. Inflation remained at high
levels fuelled by the pressure from the food and fuel sectors. The large fiscal
and current account deficit s continued to cause grave concern. It is
imperative that India regains its growth trajectory of 8-9 % sooner than later.
This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
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.
INFORMATION PARTED BY
|
Name : |
Mr. Amit |
|
Designation : |
Accountant |
|
Contact No.: |
91-9811709458 |
|
Date : |
16.08.2013 |
LOCATIONS
|
Registered Office / Warehouse : |
414, Somdutt Chamber, 2nd Bhikaji Kama Place, New Delhi –
110016, India |
|
Tel. No.: |
91-11-26162722 / 25 |
|
Mobile No.: |
91-9871440762 (Mr. Rattan Lal) 91-9811709458 (Mr. Amit) |
|
Fax No.: |
91-11-26866386 / 26510999 / 26162756 |
|
E-Mail : |
|
|
Website : |
www.ashton-india.com |
|
Area : |
500 sq.ft. |
|
Location : |
Owned |
PARTNERS
|
Name : |
Mr. Rattan Lal |
|
Designation : |
Partner |
|
Address : |
C-1/6, S. D. A., New Delhi-110016, |
|
Qualification : |
Graduate |
|
|
|
|
Name : |
Mr. Atul Bindal |
|
Designation : |
Partner |
|
Address : |
C-1/6, S. D. A., New Delhi-110016, |
|
Qualification : |
Graduate |
|
|
|
|
Name : |
Mrs. Sunita
Bindal |
|
Designation : |
Partner |
|
Address : |
C-1/6, S. D. A., New Delhi-110016, |
|
Qualification : |
Graduate |
KEY EXECUTIVES
|
Name : |
Mr. Amit |
|
Designation : |
Accountant |
BUSINESS DETAILS
|
Line of Business : |
Trader of Coated
Man-Made Fabric, Woollen Card Clothing, etc. |
|
|
|
|
Exports : |
|
|
Products : |
· Coated Man-Made Fabric ·
Woollen Card Clothing |
|
Countries : |
Italy |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Retailers · Pragas Wollers Private Limited, India · Geetanjali Woolers Private Limited, India |
|
|
|
|
No. of Employees : |
12 (Approximately) [In Office] |
|
|
|
|
Bankers : |
·
IDBI Bank, · Canara Bank, Hauz Khas, New Delhi-110016, India ·
Syndicate Bank, Kaushlya Park, Hauz Khas, New
Delhi-110016, India |
|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Ajay Aggarwal and
Company Chartered
Accountants |
|
Address : |
1/42, |
|
Tel. No.: |
91-11-22425850/22011764 |
|
Fax No.: |
91-11-22425850 |
|
|
|
|
Sisters Concern : |
· Ashton International Private Limited Address : C-1/6, S. D. A., New Delhi-110016, India Activity: Exporter, Manufacturer and Traders of Textile Machinery Parts. · Orco Enterprises Address: D-29, Basement, Hauz Khas, New Delhi-110016, India Activity : Manufacturers of Textile Machinery Parts. · Ashton Transmission Company Address : D-29, Basement, Hauz Khas, New Delhi-110016, India Activity : Manufacturer of Tapes and Conveyors. · AB Card Clothing Private Limited Address : Bajghera Road, Village Sarai Alawardi, P O Palam Vihar, Gurgaon-122001, Haryana, India Activity : Manufacturer of Card Clothing. · Asian Enterprises Address : G-57, 1st Floor, Sector-6, Noida, Uttar Pradesh, India Activity : Manufacturers of P. U. Tube, P. U. round Belts and
P. U. Coils, etc. |
CAPITAL STRUCTURE
As on 31.03.2012
|
Capital Investment : |
|
|
Owned : |
Rs.1.774 Millions |
|
Borrowed : |
-- |
|
Total : |
Rs.1.774
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
|
31.03.2013 |
|
|
|
|
|
|
Sales Turnover (Approximately) |
|
|
2.900 |
|
|
|
|
|
The above information has been parted by Mr. Amit (Accountant)
Note: Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Partners Capital |
|
1.774 |
1.528 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
1.774 |
1.528 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
1.774 |
1.528 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
0.006 |
0.006 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
0.028
|
0.021
|
|
|
Sundry Debtors |
|
1.238
|
1.022
|
|
|
Cash & Bank Balances |
|
0.813
|
0.752
|
|
|
Other Current Assets |
|
0.006
|
0.004
|
|
|
Loans & Advances |
|
0.004
|
0.004
|
|
Total
Current Assets |
|
2.089
|
1.803
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
0.247
|
0.201
|
|
|
Other Current Liabilities |
|
0.074
|
0.080
|
|
|
Provisions |
|
0.000
|
0.000
|
|
Total
Current Liabilities |
|
0.321
|
0.281
|
|
|
Net Current Assets |
|
1.768
|
1.522
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
1.774 |
1.528 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
2.299 |
1.734 |
|
|
|
Other Income |
|
0.060 |
0.043 |
|
|
|
TOTAL |
|
2.359 |
1.777 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of goods sold |
|
1.015 |
0.688 |
|
|
|
Electricity and Water Charges |
|
0.113 |
0.103 |
|
|
|
Salary and professional charges |
|
0.203 |
0.161 |
|
|
|
Building Repair and Office
maintenances |
|
0.053 |
0.043 |
|
|
|
Advertising and sales Promotion |
|
0.019 |
0.011 |
|
|
|
Commission on sales |
|
0.256 |
0.226 |
|
|
|
Traveling Expenses |
|
0.043 |
0.036 |
|
|
|
Interest on capital |
|
0.092 |
0.081 |
|
|
|
Other expenses |
|
0.416 |
0.330 |
|
|
|
TOTAL |
|
2.210 |
1.679 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS)BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
0.149 |
0.098 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
0.001 |
0.001 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT /
(LOSS) |
|
0.148 |
0.097 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
|
6.27
|
5.46
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
6.44
|
5.59
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
7.06
|
5.36
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.08
|
0.06
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
0.00
|
0.00
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
6.51
|
6.42
|
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
two 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 |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
-------- |
|
22] |
Litigations that the firm
/ promoter involved in |
-------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking
account |
-------- |
|
26] |
Buyer visit details |
-------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
No |
|
29] |
Last accounts filed at
ROC |
No |
|
30] |
Major Shareholders, if
available |
No |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
No |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating,
if available |
No |
TRADE REFERENCE
· Pragas Wollers Private Limited, India
·
Geetanjali Woolers Private Limited, India
·
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 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.61.82 |
|
|
1 |
Rs.96.57 |
|
Euro |
1 |
Rs.82.45 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYN |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
26 |
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.