- Summary Information
|
Country |
India |
||
|
Company Name |
RISHIROOP RUBBER (INTERNATIONAL) LIMITED |
Principal Name 1 |
Mr. Mahendra Kumar Kapoor |
|
Status |
Moderate |
Principal Name 2 |
Mr. Arvind Kapoor |
|
Registration # |
04 - 017657 |
||
|
Street Address |
Plot No – 5807 / 08, GIDC, Induatrial Estate Ankleshwarar –
393002. Gujarat |
||
|
Established Date |
05.11.1990 |
SIC Code |
|
|
Telephone# |
91 – 2646 – 220031 |
Business Style 1 |
Manufacturer |
|
Fax # |
91 – 2646 - 251323 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Chlorinated Rubber |
|
|
# of employees |
Not Available |
Product Name 2 |
Ethylene Propylene Diene Mononer |
|
Paid up capital |
Rs.
118,597,000 |
Product Name 3 |
Petroleum Resins |
|
Shareholders |
Promoter and Promoter
Group – 54.75% Public Shareholdings – 45.25% |
Banking |
Bank of Baroda |
|
Public Limited Corp. |
Yes |
Business Period |
23 years |
|
IPO |
Yes |
International Ins. |
-- |
|
Public |
Yes |
Rating |
B (29) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Related
Parties |
India
|
Puneet
Resins Limited |
-- |
|
Note |
- |
||
- Summary Financial
Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
105,418,000 |
Current Liabilities |
117,316,000 |
|
Inventories |
105,005,000 |
Long-term Liabilities |
0,000 |
|
Fixed Assets |
35,585,000 |
Other Liabilities |
1,080,000 |
|
Deferred Assets |
4,317,000 |
Total Liabilities |
118,396,000 |
|
Invest& other Assets |
101,224,000 |
Retained Earnings |
114,556,000 |
|
|
|
Net Worth |
233,153,000 |
|
Total Assets |
351,549,000 |
Total Liab. & Equity |
351,549,000 |
|
Total Assets (Previous Year) |
345,701,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
578,717,000 |
Net Profit |
13,896,000 |
|
Sales(Previous yr) |
349,211,000 |
Net Profit(Prev.yr) |
28,123,000 |
MIRA INFORM REPORT
|
Report Date : |
21.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
RISHIROOP RUBBER (INTERNATIONAL) LIMITED |
|
|
|
|
Registered Office : |
Plot No – 5807 / 08, GIDC, Induatrial Estate Ankleshwarar –
393002. |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2012 |
|
|
|
|
Date of Incorporation : |
05.11.1990 |
|
|
|
|
Com. Reg. No.: |
04 - 017657 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 118.597
Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
L25191GJ1990PLC017657 |
|
|
|
|
Legal Form : |
Public limited liability company. Company’s shares are listed on the
Stock Exchange. |
|
|
|
|
Line of Business : |
Manufacturer of Chlorinated Rubber Resin and Resins. |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 930000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. There
appears some accumulated losses recorded by the company. However, trade relations
are reported as fair. Business is active. Payments are reported to be slow. The company 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 – 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 |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces of
its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to become
a major exporter of information technology services and software workers. In
2010, the Indian economy rebounded robustly from the global financial crisis -
in large part because of strong domestic demand - and growth exceeded 8%
year-on-year in real terms. However, India's economic growth in 2011 slowed
because of persistently high inflation and interest rates and little progress
on economic reforms. High international crude prices have exacerbated the
government's fuel subsidy expenditures contributing to a higher fiscal deficit,
and a worsening current account deficit. Little economic reform took place in
2011 largely due to corruption scandals that have slowed legislative work.
India's medium-term growth outlook is positive due to a young population and
corresponding low dependency ratio, healthy savings and investment rates, and
increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
|
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 Office / Works : |
Plot No – 5807 / 08, GIDC, Induatrial Estate, Ankleshwarar – 393002. |
|
Tel. No.: |
91 – 2646 – 220031 / 91 – 2646 - 251323 |
|
Fax No.: |
91 – 2646 - 251323 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
65, |
|
Tel. No.: |
91-22-22825200 |
|
Fax No.: |
91-22-22872796 |
DIRECTORS
AS ON 31.03.2012
|
Name : |
Mr. Mahendra Kumar Kapoor |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. Arvind Kapoor |
|
Designation : |
Managing Director |
|
|
|
|
Name : |
Mr. Harkishenlal Ohri |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Haren B. Jokhakar |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Hemant Vakil |
|
Designation : |
Director (w.e.f. May 10, 2010) |
KEY EXECUTIVES
|
Name : |
Mr. A R Shah |
|
Designation : |
Chief Financial Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.12.2012
|
Category of
Shareholder |
No. of Shares |
% of No. of
Shares |
|
|
|
|
|
|
|
(1) Indian |
|
|
|
|
Individuals / Hindu Undivided Family |
1299896 |
10.98 |
|
|
|
5182933 |
43.78 |
|
|
Sub Total |
6482829 |
54.75 |
|
|
(2) Foreign |
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
6482829 |
54.75 |
|
|
|
|
|
|
|
(1) Institutions |
|
|
|
|
Mutual Funds / UTI |
3200 |
0.03 |
|
|
Financial Institutions / Banks |
400 |
0 |
|
|
|
6000 |
0.05 |
|
|
Sub Total |
9600 |
0.08 |
|
|
(2) Non-Institutions |
|
|
|
|
Bodies Corporate |
558553 |
4.72 |
|
|
|
|
|
|
|
Individual shareholders holding nominal share capital up to Rs. 0.100
Million |
3283213 |
27.73 |
|
|
Individual shareholders holding nominal share capital in excess of Rs.
0.100 Million |
1243563 |
10.5 |
|
|
Any Others (Specify) |
262099 |
2.21 |
|
|
Clearing Members |
15753 |
0.13 |
|
|
Non Resident Indians |
222081 |
1.88 |
|
|
|
23065 |
0.19 |
|
|
Foreign Corporate Bodies |
1200 |
0.01 |
|
|
Sub Total |
5347428 |
45.16 |
|
|
Total Public shareholding (B) |
5357028 |
45.25 |
|
|
Total (A)+(B) |
11839857 |
100 |
|
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
0 |
0 |
|
|
|
0 |
0 |
|
|
(2) Public |
0 |
0 |
|
|
Sub Total |
0 |
0 |
|
|
Total (A)+(B)+(C) |
11839857 |
0 |
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BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Chlorinated Rubber Resin and Resins. |
||||||||||||
|
|
|
||||||||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Statutory Auditors : |
|
|
Name : |
Jayesh Dadia and Associates Chartered Accountants |
|
Address : |
422, Arun Chambers, Tardeo, Mumbai – 400034, Maharashtra, India |
|
|
|
|
International Auditors : |
|
|
Name : |
Laxmikant Kabra and Company Chartered Accountants |
|
|
|
|
Related Parties : |
|
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs. 250.000 Millions |
|
|
|
|
|
Issued Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11879457 |
Equity Shares |
Rs.10/- each |
Rs. 118.795
Millions |
|
|
|
|
|
Subscribed & Fully Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11839857 |
Equity Shares |
Rs.10/- each |
Rs. 118.399
Millions |
|
39600 |
Forfeited Shares (Equity Shares) |
Rs.5/- each |
Rs. 0.198
Millions |
|
|
TOTAL |
|
Rs. 118.597 Millions |
NOTES
RIGHTS, PREFERENCES AND RESTRICTIONS ATTACHED TO EACH CLASS OF SHARES:
Equity Shares: The company has
one class of equity shares having a par value of Rs. 10/- per share. Each
shareholder is eligible for one vote per share held. The dividend proposed by
the Board of Directors is subject to the approval of the shareholders in the
ensuing Annual General Meeting, except in case of interim dividend. In the
event of liquidation, the equity shareholders are eligible to receive the remaining
assets of the Company after distribution of all preferential amounts, in
proportion to their shareholding.
THE DETAILS OF SHAREHOLDERS HOLDING MORE THAN 5% SHARES
|
Equity Shares |
AS AT 31/03/2012 |
|
|
Name of
Shareholders |
No. of Shares held |
% of Holding |
|
Rishiroop Holding Private Limited |
1010000 |
8.53 |
|
Rishiroop Polymers Private Limited |
2891194 |
24.42 |
As per of the
company, including its register of shareholders / members and other declarations
received from shareholders regarding beneficial interest, the above
shareholding represents both legal and beneficial ownership of shares.
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 |
118.597 |
118.596 |
118.597 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
114.556 |
156.065 |
156.065 |
|
|
4] (Accumulated Losses) |
0.000 |
(55.405) |
(83.530) |
|
|
NETWORTH |
233.153 |
219.256 |
191.132 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
233.153 |
219.256 |
191.132 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
35.585 |
45.873 |
62.545 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
101.224 |
85.261 |
82.692 |
|
|
DEFERREX TAX ASSETS |
4.317 |
30.946 |
29.130 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
105.005
|
96.283
|
17.758
|
|
|
Sundry Debtors |
67.302
|
64.778
|
15.511
|
|
|
Cash & Bank Balances |
22.534
|
15.122
|
5.345
|
|
|
Other Current Assets |
7.426
|
0.000
|
0.000
|
|
|
Loans & Advances |
8.156
|
7.438
|
3.200
|
|
Total
Current Assets |
210.423
|
183.621 |
41.814 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
114.001
|
123.538
|
22.491
|
|
|
Other Current Liabilities |
3.315
|
1.367
|
1.064
|
|
|
Provisions |
1.080
|
1.540
|
1.493
|
|
Total
Current Liabilities |
118.396
|
126.445 |
25.048 |
|
|
Net Current Assets |
92.027
|
57.176
|
16.766
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
233.153 |
219.256 |
191.132 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
578.717 |
349.211 |
131.872 |
|
|
|
Other Income |
7.484 |
9.512 |
6.398 |
|
|
|
TOTAL (A) |
586.201 |
358.723 |
138.270 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase of Stock In Trade |
549.173 |
317.210 |
106.498 |
|
|
|
Manufacturing Expenses |
0.000 |
0.284 |
0.445 |
|
|
|
Employees Remuneration |
4.350 |
1.139 |
0.608 |
|
|
|
Selling and Distribution Expenses |
0.000 |
12.577 |
8.832 |
|
|
|
Other Expenses |
10.100 |
0.000 |
0.000 |
|
|
|
Increase/(Decrease) in Finished Goods |
(47.527) |
(16.577) |
0.028 |
|
|
|
TOTAL (B) |
516.096 |
314.633 |
116.411 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
70.105 |
44.090 |
21.859 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
9.895 |
1.105 |
0.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
60.210 |
42.985 |
21.459 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
10.288 |
16.672 |
10.608 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
49.922 |
26.313 |
10.851 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
36.026 |
(1.812) |
5.054 |
|
|
|
|
|
|
|
|
|
|
Short / Excess
Provision For Tax of Earlier Years |
0.000 |
(0.002) |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
13.896 |
28.123 |
5.797 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
(83.529) |
(123.511) |
|
|
|
|
|
|
|
|
|
Add |
Deferred
Tax Adjustment |
NA |
0.000 |
34.184 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA
|
(55.406) |
(83.530) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
45.174 |
38.981 |
43.996 |
|
|
TOTAL EARNINGS |
45.174 |
38.981 |
43.996 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Trading Goods |
479.939 |
274.322 |
92.678 |
|
|
TOTAL IMPORTS |
479.939 |
274.322 |
92.678 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
1.17 |
2.38 |
0.49 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2012 |
30.09.2012 |
31.12.2012 |
|
|
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net Sales |
148.900 |
129.800 |
72.100 |
|
Total Expenditure |
141.000 |
117.000 |
69.300 |
|
PBIDT (Excl OI) |
7.900 |
12.800 |
2.900 |
|
Other Income |
0.000 |
0.000 |
2.100 |
|
Operating Profit |
7.900 |
12.800 |
4.900 |
|
Interest |
0.700 |
0.400 |
0.400 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
PBDT |
7.200 |
12.400 |
4.500 |
|
Depreciation |
2.600 |
2.600 |
2.700 |
|
Profit Before Tax |
4.600 |
9.800 |
1.800 |
|
Tax |
1.000 |
1.800 |
0.200 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
3.700 |
8.000 |
1.600 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
|
Net Profit |
3.700 |
8.000 |
1.600 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
2.37
|
7.83
|
4.19
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.63
|
7.53
|
8.23
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
19.94
|
11.46
|
8.13
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21
|
0.12
|
0.06
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00
|
0.00
|
0.00
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.78
|
1.45
|
1.67
|
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 |
No |
|
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) |
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 |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
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 |
REVIEW OF OPERATIONS AND OVERALL PERFORMANCE
During the year,
the Sales Turnover has increased to Rs. 578.717 Millions as compared to Rs.
349.212 Millions in the previous year registering a 66% increase. The Profit
before Tax (PBT) for the year is Rs.
49.922 Millions as compared to Rs. 26.313 Millions in previous year
registering a 90% increase. However profit after tax (PAT) has decreased from
Rs. 28.124 Millions to Rs. 13.896 Millions due to tax adjustment made during
the year.
In continuation of
the strategy to focus on International trade, the company will continue to
explore trade opportunities for supply of imported raw materials to various
industries. However, in view of the current state of the Indian Economy and slackening
of demand for raw materials by the industry. The Company’s performance during
current year may get affected.
The Shareholders
of the Company has passed an Ordinary Resolution on 9th December, 2011 via
postal ballot under section 293(1) (a) read with 192(A) of the Companies Act,
1956 approving the Sale/Lease/Disposal of the whole or substantially the whole
of the undertaking of the company situated at Ankleshwar Factory.
Since then the
company has floated a tender to various parties for dismantling and disposing
off the Equipments on as is where is basis. The offers from various parties are
under negotiation.
MANAGEMENT DISCUSSIONS AND ANALYSIS REPORT
INDUSTRY STRUCTURE
The Company is
involved in the international trade of industrial raw materials to various
industries. There are many small and big traders and agents in Exim trade.
OUTLOOK
The Indian economy
is expected to continue to grow at 7-8% per annum. This is expected to offer
new opportunities for sourcing and supply of raw materials to various
customers. As the business gets stabilized your company will widen the product
offerings to the customers
FINANCIAL and OPERATING PERFORMANCE
During the year,
the Company has performed well. The turnover has gone up from Rs. 349.212
Millions to Rs. 578.717 Millions while
Profit before tax (PBT) during the year is 49.922 Millions as compared to Rs.
26.313 Millions last year. Total inventories have increased from Rs. 96.284 Millions to Rs. 105.005 Millions and the Sundry Debtors stood
at 12 % of Sales as at March 31, 2012. Domestic Sales were Rs. 531.815 Millions as compared to Rs. 309.780 Millions, whereas Export Sales were
Rs. 46.902 Millions as compared to
Rs. 39.432 Millions last year.
FIXED ASSETS
- Leasehold
land
- Factory
Building
- Office
Building
- Machinery
- Electrical
Installation
- Safety
Equipments
- Laboratory
Equipments
- Office
Equipments
- Furniture and
Fixtures
- Vehicle
WEBSITE DETAILS
PROFILE
The Company was incorporated
in the year 1990 and promoted by Rishiroop Group. They have a plant at
Ankleshwar, Gujarat which was set up to manufacture Chlorinated Rubber for
exports. Their Corporate Office is situated at Mumbai and the Registered
Office at Ankleshwar. The Company was listed on BSE, on 20th February, 2001.
At present the
Company is in the business of International trading in Raw Materials for
Rubber, Coating and Ink and Paint Industry.
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. 54.37 |
|
|
1 |
Rs. 82.07 |
|
Euro |
1 |
Rs. 70.04 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
29 |
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.