MIRA INFORM REPORT
|
Report Date : |
09.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
RAYCHEM-RPG PRIVATE LIMITED (w.e.f. 08.09.2010) |
|
|
|
|
Formerly Known
As : |
RAYCHEM RPG LIMITED |
|
|
|
|
Registered
Office : |
RPG House, 463, |
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|
|
|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
18.08.1984 |
|
|
|
|
Com. Reg. No.: |
11-033786 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 30.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999MH1984PTC033786 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR15956D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACR8032L |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
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|
Line of Business
: |
Manufacturer and Exporter of Electric Heating Equipments. |
|
|
|
|
No. of Employees
: |
600 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (58) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 6000000 |
|
|
|
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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|
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|
Litigation : |
Clear |
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Comments : |
Subject is a joint venture between
Tyco Electronics USA, and RPG Group, It is well established and a
reputed company having good track record. The company performance capacity
seems to be strong. Financial appears to be good. Company gets good support
from its holding company. Trade relations are reported as fair. Business is
active. Payments are reported to be regular 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
FITCH |
|
Rating |
A1+ (Commercial Paper Programme) |
|
Rating Explanation |
Highest short – term credit quality |
|
Date |
03.04.2012 |
|
Rating Agency Name |
FITCH |
|
Rating |
A1+ (Non – Fund Based Limits) |
|
Rating Explanation |
Highest short – term credit quality |
|
Date |
03.04.2012 |
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.
INFORMATION DENIED BY
|
Name : |
Mr. Kapil Gohil |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-250-3057555 |
|
Date : |
08.05.2013 |
LOCATIONS
|
Registered Office : |
RPG House, 463, Dr. Annie Besant Road, Worli, Mumbai - 400030, Maharashtra, India |
|
Tel. No.: |
91-22-24937485 / 6 / 39509400 |
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Fax No.: |
91-22-24938879 |
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E-Mail : |
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|
Website : |
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Operational Office : |
Village Kanjari, Taluka Halol, Near Halol, GIDC, District Panchmahal-389350, Gujarat, India |
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Tel. No.: |
91-2676-610800 |
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Fax No.: |
91-2676-610801 |
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|
Sales Office : |
Located At : ·
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Operational Office : |
Also Located At
|
DIRECTORS
As on: 27.09.2012
|
Name : |
Mr. Sharad Madhav Kulkarni |
|
Designation : |
Director |
|
Address : |
161-A, Twin Towers, Veer Savarkar Marg, Prabhadevi, Mumbai – 400025,
Maharashtra, India |
|
Date of Birth/Age : |
09.12.1939 |
|
Date of Appointment : |
07.02.1989 |
|
DIN No.: |
00003640 |
|
|
|
|
Name : |
Mr. Ramesh Deokisandas Chandak |
|
Designation : |
Director |
|
Address : |
1202 |
|
Date of Birth/Age : |
07.11.1946 |
|
Date of Appointment : |
18.11.2003 |
|
DIN No.: |
00026581 |
|
|
|
|
Name : |
Mr. Harsh Vardhan Goenka |
|
Designation : |
Director |
|
Address : |
14-15 A, IL Palazzo, B.G. Kher Marg, Malabar Hill, Mumbai – 400006,
Maharashtra, India |
|
Date of Birth/Age : |
10.12.1957 |
|
Date of Appointment : |
07.02.1989 |
|
DIN No.: |
00026726 |
|
|
|
|
Name : |
Mr. Tony Martin Gatt |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
Hobbing Foot, |
|
Date of Birth/Age : |
31.05.1960 |
|
Date of Appointment : |
27.06.2008 |
|
DIN No.: |
00052339 |
|
|
|
|
Name : |
Mr. Raja Venkataraman |
|
Designation : |
Additional Director |
|
Address : |
Flat No.218, Royal Heritage Apartment, Benninganahalli East, Range,
Bangalore-560016, Karnataka, India |
|
Date of Birth/Age : |
08.12.1956 |
|
Date of Appointment : |
27.09.2012 |
|
DIN No.: |
00669376 |
|
|
|
|
Name : |
Mr. Viswanath Srinivasan |
|
Designation : |
Director |
|
Address : |
401, Good Earth No. 1, |
|
Date of Birth/Age : |
29.12.1965 |
|
Date of Appointment : |
12.12.2002 |
|
DIN No.: |
01758140 |
|
|
|
|
Name : |
Mr. Anant Vardhan Goenka |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
14-15 A, IL Palazzo, B.G. Kher Marg, Mumbai – 400006, |
|
Date of Birth/Age : |
19.10.1981 |
|
Date of Appointment : |
20.03.2008 |
|
DIN No.: |
02089850 |
|
|
|
|
Name : |
Mr. Ajit Singh Karan Chouhan |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
E 1/7 Vasant Vihar, |
|
Date of Birth/Age : |
14.05.1961 |
|
Date of Appointment : |
11.09.2008 |
|
DIN No.: |
02284557 |
|
|
|
|
Name : |
Jan Alexander Gero Ciliax |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
Steckgasse 6, |
|
Date of Birth/Age : |
14.11.1968 |
|
Date of Appointment : |
13.03.2009 |
|
DIN No.: |
02607724 |
|
|
|
|
Name : |
Christoph Friedrich Zeyen |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
Parklaan, |
|
Date of Birth/Age : |
17.09.1958 |
|
Date of Appointment : |
29.06.2010 |
|
DIN No.: |
03128385 |
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|
|
|
Name : |
Stephan Schoening |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
GROTE HORST, 122927, GROSSHANSDORF - 22927 |
|
Date of Birth/Age : |
13.07.1963 |
|
Date of Appointment : |
29.09.2009 |
|
DIN No.: |
02805189 |
KEY EXECUTIVES
|
Name : |
Mr. Kapil Manharlal Gohil |
|
Designation : |
Secretary |
|
Address : |
302 Vasant Laxmi, MG Cross Road No.4, Kandivali (West), Mumbai –
400067, |
|
Date of Birth/Age : |
05.06.1970 |
|
Date of Appointment : |
02.12.2004 |
|
PAN No.: |
AACPG5791Q |
|
|
|
|
Name : |
Ms. Ramani Kasi |
|
Designation : |
President |
|
Date of Birth/Age : |
51 Years |
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Qualification: |
B.E. (Mech), MMM |
|
Experience: |
29 Years |
|
Date of Appointment : |
05.07.1989 |
|
|
|
|
Name : |
Mr. Arun Kumar Goel |
|
Designation : |
Senior Vice President |
|
Date of Birth/Age : |
55 Years |
|
Qualification: |
B.E. (Electrical), MBA (Personnel Management) |
|
Experience: |
33 Years |
|
Date of Appointment : |
11.06.2008 |
|
|
|
|
Name : |
Mr. Kapil Gohil |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 27.09.2012
|
Names of Shareholders |
No. of Shares |
|
Raychem Internatioanl Manufacturing LLC, USA |
149970 |
|
Sri Parvathi Suthan Trading Company LLP, |
149993 |
|
Chattarpati Investments Limited, |
1 |
|
Carniwal Investments Limited, |
5 |
|
RPG Cellular Investments and Holdings Private Limited, India |
1 |
|
Tyco Electronics Corporation India Private Limited, |
10 |
|
Tyco Electronics Systems India Private Limited, |
10 |
|
Tyco Electronics Tools India Private Limited, |
10 |
|
TOTAL |
300000 |
Equity Share Break up (Percentage of Total Equity)
As on: 27.09.2012
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
49.99 |
|
Bodies corporate |
50.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Electric Heating Equipments. |
||||
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||||
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Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
|
Low and High Voltage Power Cable Connection
and Termination Systems |
Kits |
1100000 |
* |
|
Telecommunication Cable |
Kits |
1600000 |
* |
|
Connection System and Components |
Pcs. |
NA |
13200000 |
|
Heat Shrinkable Moulded Parts |
Pcs |
NA |
5772384 |
|
Branch of Clips |
Nos. |
NA |
1200 |
|
Transformer (OFT and Dry) up to 33 Kv |
Nos. |
NA |
30000 |
|
Transformer (OFT and Dry) up to 5MVA |
Nos. |
NA |
4200 |
|
Instrument Transformers (CT and PT) Indoor
up to 33 Kv Gas Meter |
Nos. |
NA |
144000 |
|
Transformer Rectifier Units |
Nos. |
NA |
1000 |
|
Energy Meter |
Nos. |
NA |
1350000 |
|
Surge Arrestors |
Nos. |
NA |
400000 |
|
Insulators |
Nos. |
NA |
200000 |
* The precise
installed capacity for the manufacture of Kits/ Systems cannot be determined.
GENERAL INFORMATION
|
Customers : |
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No. of Employees : |
600 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
|
|
|
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
252, Veer Sawarkar Marg, |
|
PAN No.: |
AAEFP3641G |
|
|
|
|
Subsidiary Company : |
Raychem RPG
International FZE, United Arab Emirates |
|
|
|
|
Enterprises having Joint Control over the Company
: |
CIN No.:
U31909KA1993PTC015007
CIN No.:
U29199KA1995PTC032692
|
|
|
|
|
|
|
|
Sri Parvati Suthan Trading Company LLP and its
affiliates : |
CIN No.:
U67120WB1980PLC032902
|
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.100/- each |
Rs. 50.000 Millions |
|
300000 |
Preference Shares |
Rs.100/- each |
Rs. 30.000 Millions |
|
|
Total |
|
Rs. 80.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300000 |
Equity Shares |
Rs.100/-
each |
Rs. 30.000
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 |
30.000 |
30.000 |
30.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1670.702 |
1519.261 |
1025.915 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1700.702 |
1549.261 |
1055.915 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1114.076 |
1011.929 |
907.991 |
|
|
2] Unsecured Loans |
226.758 |
96.286 |
0.000 |
|
|
TOTAL BORROWING |
1340.834 |
1108.215 |
907.991 |
|
|
DEFERRED TAX LIABILITIES |
10.111 |
10.983 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3051.647 |
2668.459 |
1963.906 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1288.035 |
1291.834 |
855.887 |
|
|
Capital work-in-progress |
5.151 |
126.326 |
17.558 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
6.383 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
916.636
|
809.227
|
402.602
|
|
|
Sundry Debtors |
2170.384
|
2065.943
|
1986.056
|
|
|
Cash & Bank Balances |
39.805
|
50.041
|
2.916
|
|
|
Other Current Assets |
135.109
|
48.675
|
0.000
|
|
|
Loans & Advances |
477.271
|
539.376
|
312.074
|
|
Total
Current Assets |
3739.205
|
3513.262
|
2703.648
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1248.135 |
1447.455 |
1066.611 |
|
|
Current Liabilities |
617.612
|
767.405
|
401.914
|
|
|
Provisions |
114.997
|
48.103
|
151.045
|
|
Total
Current Liabilities |
1980.744
|
2262.963
|
1619.570
|
|
|
Net Current Assets |
1758.461
|
1250.299
|
1084.078
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3051.647 |
2668.459 |
1963.906 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
4598.155 |
|
|
|
Other Income |
|
|
26.348 |
|
|
|
TOTAL |
6361.600 |
5455.700 |
4624.503 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material |
|
|
2856.088 |
|
|
|
Sub Contracting Charges |
|
|
141.276 |
|
|
|
Excise Duty |
|
|
22.363 |
|
|
|
Operating and Other Expenses |
|
|
1020.347 |
|
|
|
TOTAL |
5919.442 |
5098.602 |
4040.074 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
(Including financial expenses) |
(Including financial
expenses) |
584.429 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
|
75.626 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
442.158 |
357.098 |
508.803 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
152.007 |
130.826 |
81.794 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
290.151 |
226.272 |
427.009 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
86.079 |
2.706 |
75.593 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
204.072 |
223.566 |
351.416 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1168.289 |
822.284 |
628.449 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
20.407 |
0.000 |
105.000 |
|
|
|
Proposed Dividend |
45.000 |
(105.000) |
17.439 |
|
|
|
Tax on Dividend |
7.300 |
(17.439) |
35.142 |
|
|
BALANCE CARRIED
TO THE B/S |
1299.654 |
1168.289 |
822.284 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
2091.040 |
1279.783 |
1193.819 |
|
|
TOTAL EARNINGS |
2091.040 |
1279.783 |
1193.819 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
822.644 |
904.013 |
|
|
|
Traded Products |
NA |
200.594 |
51.540 |
|
|
|
Capital Goods |
|
6.986 |
9.920 |
|
|
TOTAL IMPORTS |
NA |
1030.224 |
965.473 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
680.24 |
745.22 |
1171.39 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
3.21 |
4.09 |
7.59 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA |
NA |
9.23 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.77 |
4.71 |
11.99 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17 |
0.15 |
0.40 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.79 |
0.72 |
0.86 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.88 |
1.55 |
1.67 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS
(Rs
in Millions)
|
Particular |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Creditors due others |
1248.135 |
1447.455 |
1066.611 |
|
Total |
1248.135 |
1447.455 |
1066.611 |
|
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 |
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
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 |
Yes |
|
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 |
NOTE
Registered office has been shifted from Ceat Mahal 463, Dr Annie Besant Road,
Worli, Mumbai - 400030, Maharashtra, India to the present address w.e.f.
14.12.2010
OPERATIONS
The Company achieved total revenues of Rs. 6361.600 Millions during the current financial year ended 31st March 2012 as compared to total revenues of Rs. 5455.700 Millions achieved during the previous year. The profits after tax for the financial year were lower at Rs. 204.072 Millions as against the profit after tax of Rs. 223.566 Millions during the previous year as a result of increase in income tax due to sunset clause on tax exemption granted to EOU Units. The Company has further undertaken several business/marketing strategies, product portfolio expansion, market penetration and cost reduction initiatives during the current financial year to improve the profitability.
PERFORMANCE ANALYSIS
The business of the Transmission and Distribution Division (including CFIP business) increased by 4% over previous year. CFIP business, which was shifted from Bangalore facility to Halol facility during the year, registered a growth of 111% over previous year. The overall growth achieved was marginal mainly as a result of strategic decision to slow down the Contracts business.
The Transformers business registered a handsome growth of almost 50% over the previous year. The division expects substantial increase in business on the back of good order book, approvals from various consultants/institutions/utilities and new product developments.
International Business Division sales crossed Rs. 2000.000 Millions mark and registered a sales growth of around 24% to Rs. 2202.800 Millions (inclusive of CFIP export business). The increase in sales was both from Tyco entities as well as from non-Tyco customers. During the year new product lines have been added to the existing product portfolio by Export Business Unit (EBU). The growth has been mainly because of the performance both in terms of the product quality as well as the reliability. Also introduction of new products contributed to the growth. The Company was able to attract business from a host of new customers located around the globe and in particular Middle East and North Africa.
The sales of Oil, Water and Gas division (OWG) registered a growth of 13% over the previous year. The Pipe line business division sales were lower compared to previous year. The Gas Meters business registered a growth of 7%. Further, the Gas Meter business which had received its first export order from Malaysia in the previous year, has added new customers in UAE and Srilanka during the year. It has also made inroads in other countries like Egypt, Indonesia, Bangladesh, etc. As a strategy, the OWG division envisages growth by entering into newer businesses, focus on niche markets and export thrust in the coming years.
The growth of Infocom Divisions business was marginal as a result of stiff competition in the market and price erosion in certain cases. The division is redefining its strategy by expanding the product range and diversifying the product portfolio. The division has been able to maintain the margins due to its product development initiatives in the competitive market.
The Company has since long endeavored to diversify the portfolio of Products and Services as a vehicle for the growth of its business. In line with this strategy, the Company had acquired the Energy business of Tyco Electronics Systems India Private Limited, Bengaluru during the previous year. The said business consists of manufacture and sale of Connectors, fittings and Insulation Products (CFIP) in overseas and domestic markets.
During the year the Company shifted the facilities from Bengaluru to its own facility at Halol in the state of Gujarat constructed for the purpose. Further, the Company is in the process of implementing the project for manufacture of 20MVA and higher range of Transformers along with the existing range and has commenced construction of new facility at its existing location at Chakan to house the said project. The said project will catapult the Company in the league of manufacturers of hi- tech and niche transformers for speciality applications. Also the Company is in the process of implementing the projects for manufacture of various products like Water Meter, CTPT, MV Polymeric insulators, etc.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
90241523 |
|
Corporate
identity number of the company |
U74999MH1984PTC033786 |
|
Name of the
company |
RAYCHEM-RPG
PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
RPG House, 463, Dr. Annie Besant Road, Worli, Mumbai - 400030, Maharashtra, India |
|
Type of charge |
|
|
Particular of
charge holder |
State Bank of India, Industrial Finance Branch, World Trade Centre, Cuffe Parade, Mumbai - 400005, Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
1) Seventh Supplemental Working Capital
Consortium Agreement 2) Seventh Supplemental Joint Deed of
Hypothecation 3) Seventh Supplemental Inter se Agreement all pertaining to
a single charge |
|
Date of
instrument Creating the charge |
17.09.2012 |
|
Amount secured by
the charge |
Rs. 3164.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As stipulated by
each consortium Banks from time to time Terms of Repayment On demand Margin As prescribed by
each consortium Banks from time to time Extent and Operation of the charge First charge ranking
pari passu amongst all consortium banks Others Non-fund based limits of SBI includes Forward Contract limit of Rs.14.100 Millions. Entire fund based facilities granted by SCB, Citibank and HDFC Bank are inter-changeable with non-fund based limits. |
|
Short particulars
of the property charged |
Whole of the
current assets and movable assets, stocks of R/Ms, stock in process,
semi-finished and finished goods, stores and spares, B/Rs, o/s monies and
book-debts |
|
Date of latest
modification prior to the present modification |
09.01.2012 |
|
Particulars of
the present modification |
Barclay's Bank
PLC exited from the consortium and Citibank NA, Citi Group Centre,
Bandra-Kurla Complex, Bandra (East), Mumbai-51, inducted. Consortium banks
granted the enhanced working capital facilities aggregating to Rs.3164.100
Millions. Hence, amount of charge increased from Rs.3150.000 Millions. to
Rs.3164.100 Millions. [SBI Rs.1434.100 Millions, ICICI Bank Rs.900.000
Millions, SCB Rs.300.000 Millions, Citibank NA Rs.280.000 Millions |
Unsecured Loan
(Rs in Millions)
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Term loans from others |
226.758 |
36.286 |
|
Working capital loans from banks |
0.000 |
60.000 |
|
Total |
226.758 |
96.286 |
FIXED ASSETS
- Land
- Building
- Plant and Machinery
- Furniture and Fixtures
- Office Equipments
- Vehicles
- Leasehold Improvement
- Software
WEBSITE DETAILS
News
ON A CONSOLIDATED
BASIS, CEAT REPORTS REVENUE OF RS 50090.000 MILLIONS IN FINANCIAL YEAR 2012 –
2013
• Registered a
revenue growth of 9% • profit after tax stood at 1202.000 Millions, an increase
from RS 182.000 Milions IN FY 11 – 12
CEAT Limited, an RPG Enterprises company, announced its audited results for the financial year ending March 31, 2013. On a standalone basis, the India operations reported a revenue of Rs 48370.000 Millions and EBITDA margin of 8.8%.
Mr. Anant Goenka, Managing Director, CEAT Limited said, “This financial year
has been a positive story for us. We have witnessed an EBITDA expansion of 320
BPS for the full year on account of higher realizations due to change in
product mix and soft raw material prices.”
“We have consolidated our position in the 2 wheelers segment by increasing our
market share. Focused advertising campaigns have been a key catalyst to this
market share growth. Going forward, we will continue our investments in
building a strong brand”, added Mr. Goenka
Talking about Q4 performance, CEAT India recorded revenue of Rs 12980.000
Millions. EBITDA for the quarter stood at 10.7% compared to 10.4% in the
corresponding quarter of the previous year.
The combined net sales for Q4 is Rs 13330.000 Millions and the consolidated
EBITDA margin stood at 10.8%
Mr. Manish Dugar, Chief Financial Officer, CEAT Limited said, “With improved
operational efficiency and focus on tight working capital management, we have
been able to reduce our debt by Rs 2730.000 Millions to Rs 10380.000 Millions
from Rs 13110.000 Millions in FY 12. However, the debt reduction took place
mainly in last 2 quarters and benefit of lower base rate was effective Feb’13.
Hence the impact on the overall Interest cost will be felt in the subsequent
quarters.”
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. 54.16 |
|
|
1 |
Rs. 83.88 |
|
Euro |
1 |
Rs. 71.00 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Report Prepared
by : |
UDS |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
58 |
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.