|
Report Date : |
28.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
RAPID ENGINEERING COMPANY PRIVATE LIMITED RAPID COAT DIVISION (UNIT OF RAPID ENGINEERING COMPANY PRIVATE
LIMITED) |
|
|
|
|
Registered
Office : |
111-112, DSIDC Okhla Industrial Area, Phase – I, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
13.03.1972 |
|
|
|
|
Com. Reg. No.: |
55-006026 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 9.100
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1972PTC006026 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELR10167D DELR08690D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAAC1163L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Power Coatings, Microfine Plastic Powder or Low
Density Polyethylene Powers, Roto Moulding Powder. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 610000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a good track record. The financial position of the company is good and the company has
performed well during 2012. Trade relations are reported as decent. Business
is active. Payment terms are regular and as per commitment. The company can be considered 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 – 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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
SE 1B |
|
Rating Explanation |
Highest performance capability and moderate
credit risk. |
|
Date |
17.10.2012 |
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 : |
111-112, DSIDC Okhla Industrial Area, Phase – I, New Delhi – 110020,
Delhi, India |
|
Tel. No.: |
91-11-26813344 |
|
Fax No.: |
91-11-26810677 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory & Corporate Office : |
A-11/1, Site IV, Link Road, Sahidabad – 201010, Uttar Pradesh, India |
|
Tel. No.: |
91-120-2896655 |
|
Fax No.: |
91-120-2896656 |
|
E-Mail : |
|
|
|
|
|
Mumbai Branch Office : |
Plot No. 3, Sag Baug, Andheri Kurla Road, Andheri (East), Mumbai –
400059, Maharashtra, India |
|
Tel. No.: |
91-22-28508775 |
|
Fax No.: |
91-22-28501303 |
|
E-Mail : |
DIRECTORS
As on: 30.09.2012
|
Name : |
Mr. Ajit Gupta |
|
Designation : |
Director |
|
Address : |
D-701, Kaveri Apartments, Alaknanda, New Delhi – 110019, Delhi, India |
|
Date of Birth/Age : |
08.09.1946 |
|
Date of Appointment : |
13.03.1972 |
|
DIN No.: |
00094127 |
|
|
|
|
Name : |
Mr. Saroj Gupta |
|
Designation : |
Director |
|
Address : |
D-701, Kaveri Apartments, Alaknanda, New Delhi – 110019, Delhi, India |
|
Date of Birth/Age : |
15.01.1950 |
|
Date of Appointment : |
28.02.1974 |
|
DIN No.: |
00498318 |
|
|
|
|
Name : |
Mr. Anuj Gupta |
|
Designation : |
Director |
|
Address : |
D-701, Kaveri Apartments, Alaknanda, New Delhi – 110019, Delhi, India |
|
Date of Birth/Age : |
13.08.1974 |
|
Date of Appointment : |
28.04.2010 |
|
DIN No.: |
03048866 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Ajit Gupta |
|
37040 |
|
Saroj Gupta |
|
44290 |
|
Ajit Gupta and Sons, Delhi |
|
370 |
|
Urmila Jain |
|
9300 |
|
|
|
|
|
Total |
|
91000 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2012
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Power Coatings, Microfine Plastic Powder or Low
Density Polyethylene Powers, Roto Moulding Powder. |
|
|
|
|
Products : |
·
Power Coatings ·
Microfine Plastic Powder ·
Low Density Polyethylene Powers ·
Roto Moulding Powder |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
Bank Of India,
Okhla Industrial Area Phase 1, New Delhi – 110020, Delhi, India |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sachin Agarwal and Associate Chartered Accountants |
|
Address : |
103, Ansal Vikas Deep, Laxmi Nagar District Centre, Delhi – 110092,
India |
|
Tel. No.: |
91-11-22452754 |
|
PAN No.: |
AADPA9458R |
CAPITAL STRUCTURE
As on: 30.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.100/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
91000 |
Equity Shares |
Rs.100/- each |
Rs. 9.100
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
9.100 |
9.100 |
|
(b) Reserves & Surplus |
|
144.535 |
122.659 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
|
153.635 |
131.759 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
7.136 |
7.108 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
|
7.136 |
7.108 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
2.897 |
16.512 |
|
(b) Trade payables |
|
97.107 |
94.908 |
|
(c) Other current
liabilities |
|
13.785 |
14.809 |
|
(d) Short-term provisions |
|
10.500 |
10.000 |
|
Total Current Liabilities (4) |
|
124.289 |
136.229 |
|
|
|
|
|
|
TOTAL |
|
285.060 |
275.096 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
64.313 |
47.688 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
64.313 |
47.688 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
108.380 |
92.333 |
|
(c) Trade receivables |
|
79.367 |
65.380 |
|
(d) Cash and cash
equivalents |
|
8.589 |
21.976 |
|
(e) Short-term loans
and advances |
|
24.411 |
47.719 |
|
(f) Other current
assets |
|
0.000 |
0.000 |
|
Total Current Assets |
|
220.747 |
227.408 |
|
|
|
|
|
|
TOTAL |
|
285.060 |
275.096 |
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
9.100 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
99.730 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
108.830 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
2.573 |
|
|
TOTAL BORROWING |
|
|
2.573 |
|
|
DEFERRED TAX LIABILITIES |
|
|
6.566 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
117.969 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
42.246 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
0.000 |
|
|
Cash & Bank Balances |
|
|
0.000 |
|
|
Other Current Assets |
|
|
156.206 |
|
|
Loans & Advances |
|
|
17.307 |
|
Total
Current Assets |
|
|
173.513 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
75.050 |
|
|
Other Current Liabilities |
|
|
12.740 |
|
|
Provisions |
|
|
10.000 |
|
Total
Current Liabilities |
|
|
97.790 |
|
|
Net Current Assets |
|
|
75.723 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
117.969 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
|
|
|
|
TURNOVER |
682.781 |
590.564 |
493.958 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT AFTER
DEPRICIATION |
32.559 |
34.385 |
31.728 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
130.218 |
95.143 |
64.937 |
|
|
TOTAL EARNINGS |
130.218 |
95.143 |
64.937 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
136.030 |
130.771 |
90.227 |
|
|
TOTAL IMPORTS |
136.030 |
130.771 |
90.227 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Net Profit Margin (PBT/Sales) |
(%) |
4.77 |
5.82 |
6.42 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.42 |
12.50 |
14.71 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21 |
0.27 |
0.29 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.01 |
0.12 |
0.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.78 |
1.67 |
1.77 |
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 |
No |
|
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED LOAN
(Rs. In Millions)
|
Particulars |
As on 31.03.2012 |
As on 31.03.2011 |
|
From Directors |
0.166 |
1.166 |
|
From shareholder |
1.005 |
1.505 |
|
|
|
|
|
Total |
1.171 |
2.671 |
FINANCIAL RESULTS
The company during the year has achieved a total turnover of Rs. 682.781
Millions (P.Y. Rs. 590.564 Millions) on which the net profit after depreciation
was Rs. 32.559 Millions (P.Y. Rs. 34.385 Millions). The Directors are making
efforts for achieving better results in the current year.
FIXED ASSETS:
·
Land And Buildings
·
Plant and Machinery
·
Vehicles
·
Computers
·
Furniture and Fixtures
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. 60.59 |
|
|
1 |
Rs. 92.91 |
|
Euro |
1 |
Rs. 78.94 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
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 |
|
52 |
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.