MIRA INFORM REPORT
|
Report Date : |
25.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
RATNAMANI BIO-CHEMICALS AND PHARMACEUTICALS PRIVATE LIMITED |
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Registered
Office : |
B-125, Maruti Tenaments, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
06.05.2004 |
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Com. Reg. No.: |
04-044091 |
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Capital
Investment / Paid-up Capital : |
Rs. 4.000 Millions |
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CIN No.: [Company Identification
No.] |
U24231GJ2004PTC044091 |
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PAN No.: [Permanent Account No.] |
AHMR02921C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Drug and Pharmaceutical Intermediates. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 115000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a satisfactory track record. There
appears slight dip in the profitability. However, general financial position seems to be good. Trade relations
are reported to be fair. Business is active. Payments are reported to be
usually correct and as per commitment. The company can be considered for business dealings at usual trade
terms and condition. |
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) |
|
|
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
B-125, Maruti Tenaments, |
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Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Factory/
Marketing Office : |
Plot No. 6112 and 6113, Opposite Heubach Color, GIDC , Ankleshwar,
District Bharuch – 393 002 , |
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Tel. No.: |
91-2646-226527 (Factory) 91-2646-250517 (Marketing) |
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Tele Fax No.: |
91-2646-226527 (Factory) |
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Fax No.: |
91-2646-252767 (Marketing) |
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E-Mail : |
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Correspondence
Office : |
12, Harshad Chambers, Ajod Dairy Road, Near Keval Kanta, Rakhial
350053 Gujarat, India |
DIRECTORS
As on : 29.09.2012
|
Name : |
Mr. Rameshbhai Bhagwanbhai Patel |
|
Designation : |
Director |
|
Address : |
B/16, Amrapali Co-Operative Housing Society,
Ankleshwar - 393 002, |
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Date of Birth/Age : |
25.04.1964 |
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Date of Appointment : |
06.05.2004 |
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DIN No.: |
00037568 |
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Name : |
Mr. Prasannvadan Rasiklal Patel |
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Designation : |
Director |
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Address : |
A/7, Vaisnav Bunglows, |
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Date of Birth/Age : |
15.06.1961 |
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Date of Appointment : |
06.05.2004 |
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DIN No.: |
00211518 |
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Name : |
Mr. Pitambarbhai Karsanbhai Patel |
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Designation : |
Director |
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Address : |
B/16, Amrapali Co-Operative Housing Society,
Ankleshwar - 393 002, |
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Date of Birth/Age : |
01.06.1970 |
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Date of Appointment : |
06.05.2004 |
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DIN No.: |
00193116 |
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Name : |
Mr. Dahyabhai Nathabhai Patel |
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Designation : |
Director |
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Address : |
B/125, Maruti Tenaments, |
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Date of Birth/Age : |
01.06.1958 |
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Date of Appointment : |
06.05.2004 |
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DIN No.: |
00209477 |
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Name : |
Mr. Kirtibhai Bhagwandas Patel |
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Designation : |
Director |
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Address : |
B/26, Jivandhara Society, |
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Date of Birth/Age : |
01.06.1967 |
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Date of Appointment : |
06.05.2004 |
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DIN No.: |
00193150 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on : 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Rameshbhai Bhagwanbhai Patel |
|
2000 |
|
Prasannavadan R. Patel |
|
65000 |
|
Pitamber K. Patel |
|
54990 |
|
Dahyabhai N. Patel |
|
2000 |
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Kirtibhai B. Patel |
|
47680 |
|
Mehul Oahyabhai Patel |
|
5000 |
|
Valiben Dahyabhai Patel |
|
5000 |
|
Rameshbhai Bhagwandas Patel HUF |
|
46000 |
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Vishnubhai Bhagwandas Patel HUF |
|
12000 |
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Bhagwanbhai Nathabhai Patel HUF |
|
20000 |
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Dalshitaben Bhagwanbhai Patel |
|
20010 |
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Alkaben P. Patel |
|
25000 |
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Somabhai Karsanbhai Patel |
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10000 |
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Pravinbhai Karsanbhai Patel |
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15000 |
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Mafatbhai Kuberbhai Patel |
|
10000 |
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Jivabhai Karshanbhai Patel |
|
10000 |
|
Sunilkumar R. Patel |
|
5000 |
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Dahyabhai Nathabhai Patel HUF |
|
40000 |
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Hansaben R. Patel |
|
50 |
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Manishaben R. Patel |
|
50 |
|
Abhishek Prasannavadan Patel |
|
5000 |
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Jivabhai M Patel |
|
10 |
|
Yaminiben K. Patel |
|
110 |
|
Bhagvatiben Patel |
|
100 |
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Total |
|
400000 |
Equity Share Break up (Percentage of Total Equity)
As on : 29.09.2012
|
Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of Drug and Pharmaceutical Intermediates. |
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||
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Products : |
·
2,3 Dichloro Benzoyl Chloride ·
2,3 Dichloro Benzoyl Cyanide ·
(2 – (2,3 – Dichlorophenyl) – (Guanidinoimino)
Acetonitrile (Schiff base) ·
1 H - 1,2,4 – Triazole ·
3’ Chloropropiophenone ·
1-(3-Chloropropyl)-2-Benzimidazolidinone ·
Pyridine-2–aldehyde |
GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
Axis Bank Limited, Trishul 3rd |
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Facilities : |
(Rs.
In Millions)
Note :
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Anil N. Shah and Company Chartered Accountants |
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Address : |
203-205, Sarthak Complex, Behind Urja House, |
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Tel. No.: |
91-79-26446107/ 26430497/ 40076107 |
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Mobile No.: |
91-9825174950/ 9327004626 |
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E-Mail : |
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PAN.: |
AAFFA3776N |
CAPITAL STRUCTURE
As on : 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
400000 |
Equity Shares |
Rs.10/- each |
Rs.4.000 Millions |
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
400000 |
Equity Shares |
Rs.10/- each |
Rs.4.000 Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
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|
SHAREHOLDERS FUNDS |
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|
|
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1] Share Capital |
4.000 |
4.000 |
4.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
24.714 |
24.426 |
21.565 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
28.714 |
28.426 |
25.565 |
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LOAN FUNDS |
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|
|
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|
1] Secured Loans |
35.277 |
26.764 |
6.275 |
|
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2] Unsecured Loans |
2.506 |
2.931 |
7.539 |
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TOTAL BORROWING |
37.783 |
29.695 |
13.814 |
|
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DEFERRED TAX LIABILITIES |
0.893 |
0.800 |
0.766 |
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DEFERRED PAYMENT LIABILITY (VEHICLE LOAN) |
0.000 |
0.000 |
0.901 |
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TOTAL |
67.390 |
58.921 |
41.046 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
39.678 |
21.853 |
20.467 |
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Capital work-in-progress |
4.067 |
11.823 |
5.562 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
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|
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Inventories |
13.111
|
7.388 |
8.959 |
|
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Sundry Debtors |
17.816
|
32.314 |
13.885 |
|
|
Cash & Bank Balances |
1.120
|
1.044 |
2.038 |
|
|
Other Current Assets |
0.354
|
0.072 |
0.000 |
|
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Loans & Advances |
5.993
|
1.811 |
6.115 |
|
Total
Current Assets |
38.394
|
42.629 |
30.997 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
12.175
|
16.206 |
11.206 |
|
|
Other Current Liabilities |
1.337
|
1.210 |
0.132 |
|
|
Provisions |
1.237
|
(0.032) |
4.642 |
|
Total
Current Liabilities |
14.749
|
17.384 |
15.980 |
|
|
Net Current Assets |
23.645
|
25.245 |
15.017 |
|
|
|
|
|
|
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
67.390 |
58.921 |
41.046 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
91.696 |
59.938 |
70.556 |
|
|
|
Jobwork Income |
0.000 |
0.000 |
0.120 |
|
|
|
Other Income |
0.110 |
0.002 |
0.645 |
|
|
|
TOTAL (A) |
91.806 |
59.940 |
71.321 |
|
|
|
|
|
|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials |
56.711 |
34.630 |
|
|
|
|
Changes in Inventories |
0.082 |
(1.255) |
|
|
|
|
Employees Benefits |
3.922 |
2.228 |
|
|
|
|
Other Expenses |
21.581 |
13.618 |
|
|
|
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TOTAL (B) |
82.296 |
49.221 |
53.226 |
|
|
|
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|
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|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
9.510 |
10.719 |
18.095 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
3.206 |
1.552 |
1.661 |
|
|
|
|
|
|
|
|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
6.304 |
9.167 |
16.434 |
|
|
|
|
|
|
|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
4.166 |
2.655 |
2.720 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2.138 |
6.512 |
13.714 |
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|
|
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|
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|
Less |
TAX (H) |
0.688 |
2.017 |
4.651 |
|
|
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|
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|
PROFIT AFTER TAX
(G-H) (I) |
1.450 |
4.495 |
9.063 |
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|
|
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|
|
|
|
Less/ Add |
GRATUITY BENEFIT
OBLIGATION |
0.000 |
0.000 |
(0.061) |
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|
|
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|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
20.677 |
18.415 |
12.317 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Final Dividend |
1.000 |
0.000 |
0.000 |
|
|
|
Interim Dividend |
0.000 |
1.400 |
1.200 |
|
|
|
Dividend Distribution Tax |
0.162 |
0.233 |
0.204 |
|
|
|
Transfer to General Reserve |
0.150 |
0.600 |
1.500 |
|
|
BALANCE CARRIED
TO THE B/S |
20.814 |
20.677 |
18.415 |
|
|
|
|
|
|
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EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
0.788 |
0.000 |
NA |
|
|
|
Commission Earnings |
0.953 |
0.000 |
NA |
|
|
TOTAL EARNINGS |
1.741 |
0.000 |
NA |
|
|
|
|
|
|
|
|
|
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IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
20.128 |
6.607 |
NA |
|
|
TOTAL IMPORTS |
20.128 |
26.735 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.62 |
11.24 |
22.51 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.58
|
7.50 |
12.71 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.33
|
10.86 |
19.44 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.74
|
10.10 |
26.65 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.23 |
0.54 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.32
|
1.04 |
0.54 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.60
|
2.45 |
1.94 |
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 |
No |
OPERATION :
During the year the company have achieved sales of Rs. 89.301 Millions and
job work of Rs. 0.480 Million and have made profit of Rs. 1.470 Millions after
providing depreciation and income tax.
UNSECURED LOAN :
|
PARTICULARS |
31.03.2012 (Rs in Millions) |
31.03.2011
(Rs in Millions) |
|
Other Loans and
advance |
|
|
|
Deposits from Directors and Shareholders |
2.506 |
2.931 |
|
Total |
2.506 |
2.931 |
BANKERS CHARGES
REPORT AS PER REGISTRY :
|
Corporate identity
number (CIN) or foreign company registration
number of the company |
U24231GJ2004PTC044091 |
|
Name of the
company |
RATNAMANI BIO-CHEMICALS AND PHARMACEUTICALS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
B–125, Maruti Tenaments, E-mail: info@ratnamani.in |
|
This form is for |
Modification
of charge |
|
Charge
identification (ID) number of the charge to be modified |
10230419 |
|
Type of charge |
Book debts Movable Property (not
being pledged) Others (Goods and
current assets including stocks, P M, FF) |
|
Particular of
charge holder |
Axis Bank Limited, Trishul 3rd E-mail: amit.upadhyay@axisbank.com CIN : L65110GJ1993PLC020769 |
|
Nature of
instrument creating charge |
Supplemental Deed
Of Hypothecation |
|
Date of
instrument Creating the charge |
21.09.2012 |
|
Amount secured by
the charge |
Rs.72.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest : As Per Sanction
Letter No Wz/Ssc/Sp/560/2012-13 Date 21.08.2012 Terms of repayment : As Per Sanction Letter
No Wz/Ssc/Sp/560/2012-13 Date 21.08.2012 Margin : As Per Sanction
Letter No Wz/Ssc/Sp/560/2012-13 Date 21.08.2012 Extend and operation of the charge : Cash Credit
Rs 27.500 Millions Term Loan I Rs 15.000
Millions Term Loan II Rs
2.500 Millions Term Loan
III
Rs 3.000 Millions Term Loan IV Rs
13.000 Millions LC (Inland/Foreign) Rs 10.000
Millions LOU for Buyers
Credit (Sub Limit of LC) Rs 7.500 Millions LER Limit
Rs 1.000 Million TOTAL Rs 72.000 Millions Others : As Per Sanction
Letter No Wz/Ssc/Sp/560/2012-13 Date 21.08.2012 |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
|
|
Particulars of
the present modification |
The charge is
enhanced from Rs. 51.500 Millions to Rs. 72.000 Millions with Supplemental
Deed of Hypothecation dated 21/09/2012 |
FIXED ASSETS:
- Electrification
- Laboratory
Equipments
- Plant and
Machinery
- Computer
- Dead Stock
Furniture
- Motor Car
- Office
Equipment
- Patent
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. 55.61 |
|
|
1 |
Rs. 84.98 |
|
Euro |
1 |
Rs. 71.94 |
INFORMATION DETAILS
|
Report Prepared
by : |
|
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
43 |
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.