MIRA
INFORM REPORT
|
Report Date : |
30.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
ROQUETTE RIDDHI SIDDHI PRIVATE LIMITED (w.e.f. 08.04.2013) |
|
|
|
|
Formerly Known
As : |
RIDDHI SIDDHI CORN PROCESSING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
12A and 14B, Abhishree Corporate Park, Opposite Madhurya Restaurant,
Ambli-Bopal Road, Ambli, Ahmedabad – 380058, Gujarat |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
25.08.2010 |
|
|
|
|
Com. Reg. No.: |
04-062115 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 200.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15326GJ2010PTC062115 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMR07105A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCR2758G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Subject is engaged in manufacturing of starch, its derivatives and
related by-products. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 36600000 |
|
|
|
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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|
Comments : |
Subject is a well-established company having fine track record. The ratings reflect Roquette Riddhi’s established market position and
its strong operating efficiencies. The ratings also reflect its healthy
financial risk profile marked by high networth, low gearing and comfortable
debt protection metrics. Directors are reported to be experienced and respectable businessmen. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. The company can be considered good for normal 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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
The services sector, the largest contributor to India’s GDP, contracted
for the sixth consecutive month in December, as orders dipped. However, hiring has
risen. Direct tax collections rose 12.3 % during the April – December
period of the current financial year. The government has decided to
retain 100 per cent foreign direct investment in both greenfield (new) and
brown field (existing) pharmaceutical companies, despite concerns over genetic
drugs going out of production, if multi-national companies take over domestic
ones. In M&A deals, a non-compete clause would not be allowed, except in
special circumstances. The Department of Industrial Policy and Promotion plans
to release the next edition of its consolidated foreign direct investment
policy document on March 31, incorporating changes made in the past year. DIPP
compiles all policies related to India’s FDI regime into a single document to
make it easy for investors to understand. 185 million estimated number of
mobile internet users in India by June 2014, according to a report by the
Internet & Mobile Association of India and IMRB International. India
had 110 million mobile internet users with 25 million in rural areas. $3.77 tn
estimated global IT spending in 2014, according to research firm Gartner Inc.
The growth forecast for this year is cut to 3.1 %from the earlier estimate of
3.5 %. The spending growth forecast for telecom services – a segment that
accounts for more than 40 % at total IT spending – from 1.9 per cent to 1.2 per
cent is the main reason for this overall IT cut. A Reserve Bank of India
committee has recommended setting up a special category of lenders who would
cater to small businesses and households, to expand the number of customers
with access to banking services. These banks would focus on providing payment
services and deposit products. Indian banks want the free use of
automated teller machines to be capped at five transactions in a month
including that of the bank in which the account is active. This follows state
government order to banks to install security guards at ATM booths after a
woman banker was assaulted in Bangalore. The government is likely to present a
vote on Account in mid-February. The annual Economic Survey will be tabled
later in Parliament along with the full Budget. A full Budget for 2014/15 is
likely to be present in July by the new government formed after the General
Election. The government will soon launch an internet spy system, called Netra,
to detect malafide messages. Security agency will deploy the system to capture
dubious voice traffic on applications such as Skype and Google Talk, as well as
tweeters.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating : A |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
August 30, 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating : A1 |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk. |
|
Date |
August 30, 2013 |
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 DECLINED
MANAGEMENT NON-COOPERATIVE
(CONTACT NO.: 91-79-71021050)
LOCATIONS
|
Registered Office : |
12A and 14B, Abhishree Corporate Park, Opposite Madhurya Restaurant,
Ambli-Bopal Road, Ambli, Ahmedabad – 380058, Gujarat, India |
|
Tel. No.: |
91-79-71021050/ 71021015/ 71021000 |
|
Fax No.: |
91-79-71021011 |
|
E-Mail : |
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|
Website : |
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|
|
|
Factory 1 : |
Plot No.12, Sector – 9, IIE, SIDCUL, Pant Nagar, Rudrapur,
Udham Singh Nagar – 263153, Uttarakhand, India |
|
Tel. No.: |
91-5944-250241/ 42/ 428 |
|
Fax No.: |
91-5944-250240 |
|
|
|
|
Factory 2 : |
Post Box No. 9, Gokak Falls Road, Gokak, Belgaum – 591307,
Karnataka, India |
|
Tel. No.: |
91-8332-229240/ 41/ 42 |
|
Fax No.: |
91-8332-226721/ 227266 |
|
|
|
|
Factory 3 : |
Block No.51-52, Riddhi Siddhi Nagar, Village – Juna
Paddar, Becharaji Road, Viramgam, Ahmedabad – 382150, Gujarat, India |
|
Tel. No.: |
91-2715-234182/ 234181 |
|
|
|
|
Marketing Offices : |
Located at: ·
New Delhi Bangalore Mumbai Chennai |
DIRECTORS
AS ON 03.07.2013
|
Name : |
Mr. Ganpatraj Lalchand Chowdhary |
|
Designation : |
Managing director |
|
Address : |
1/B, Natraj Society, Gulbai Tekra, Ambawadi, Ahmedabad – 380009,
Gujarat, India |
|
Date of Birth/Age : |
23.03.1963 |
|
Qualification : |
B. Com |
|
Experience : |
24 Years |
|
Date of Appointment : |
25.08.2010 |
|
PAN No.: |
ABWPL2726K |
|
DIN No.: |
00344816 |
|
|
|
|
Name : |
Mr. Abhey Yograj |
|
Designation : |
Director |
|
Address : |
N-94, Panchshil Park, New Delhi – 110017, India |
|
Date of Birth/Age : |
01.09.1943 |
|
Date of Appointment : |
21.02.2013 |
|
DIN No.: |
00029998 |
|
|
|
|
Name : |
Michel Pascal Andre Payet Gaspard |
|
Designation : |
Director |
|
Address : |
8 Avenue, Saint Honore D Eylau, Paris 75116 France |
|
Date of Birth/Age : |
16.11.1947 |
|
Date of Appointment : |
28.05.2013 |
|
DIN No.: |
01201755 |
|
|
|
|
Name : |
Marc Philippe Bernard Marie Joseph Roquette |
|
Designation : |
Director |
|
Address : |
14, Avenue Pasteur 59130, Lambersart 62080 France |
|
Date of Birth/Age : |
17.02.1953 |
|
Date of Appointment : |
29.05.2012 |
|
DIN No.: |
01317175 |
|
|
|
|
Name : |
Mr. Siddharth Chowdhary |
|
Designation : |
Director |
|
Address : |
1/B, Natraj Society, Gulbai Tekra, Ambawadi, Ahmedabad – 380015,
Gujarat, India |
|
Date of Birth/Age : |
30.08.1984 |
|
Qualification : |
Science Graduate |
|
Experience : |
6 Years |
|
Date of Appointment : |
29.05.2012 |
|
PAN No.: |
AFVPC3418E |
|
DIN No.: |
01798350 |
|
|
|
|
Name : |
Philippe Pierre Roujon |
|
Designation : |
Director |
|
Address : |
Sarna Firm House, Chattarpur Mandir Road, Road No.3, Behind Daffodil Hotel,
Mehrauli, Delhi – 110032, India |
|
Date of Birth/Age : |
15.10.1953 |
|
Date of Appointment : |
29.05.2012 |
|
DIN No.: |
02250237 |
|
|
|
|
Name : |
David Frederic Brief |
|
Designation : |
Director |
|
Address : |
29, Rue De Pietre, Aubers 59249 France |
|
Date of Birth/Age : |
18.06.1963 |
|
Date of Appointment : |
29.05.2012 |
|
DIN No.: |
05275929 |
|
|
|
|
Name : |
Guy Henri Talbourdet |
|
Designation : |
Director |
|
Address : |
28 BD Vauban, Lille 59000 France
|
|
Date of Birth/Age : |
01.08.1965 |
|
Date of Appointment : |
29.05.2012 |
|
DIN No.: |
05280826 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 03.07.2013
|
Names of Shareholders |
|
No. of Shares |
|
Whiteline Consultancy Services Private Limited, India |
|
5200000 |
|
Roquette Freres, France |
|
14800000 |
|
|
|
|
|
Total |
|
20000000 |
AS ON 03.07.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
74.00 |
|
Bodies
corporate |
26.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing of starch, its derivatives and
related by-products. |
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Products/ Services : |
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GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
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Bankers : |
· Oriental Bank Of Commerce Hotel Meghdut Building, Station Road, Ahmedabad - 380002, Gujarat, India · Indian Overseas Bank Ashram Road Branch, Ashram Road, Ahmedabad - 380009, Gujarat, India · Standard Chartered Bank Abhijit-II, Ground Floor, Near Mithakhali Six Roads, Ahmedabad - 380006, Gujarat, India · IDBI Bank Indian Bank, Chennai Corporation Bank Axis Bank State Bank Of India Kotak Mahindra Bank HDFC Bank ICICI Bank |
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Facilities : |
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Banking
Relations : |
-- |
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|
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|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Heritage, 3rd Floor, Near Gujarat Vidyapith,
Off Ashram Road, Ahmedabad – 380014, Gujarat, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AABFD7919A |
|
|
|
|
Enterprise where
Directors have significant influence or control (EDSIC) : |
Riddhi Siddhi Gluco Biols Limited [L24110GJ1990PLC013967] |
|
|
|
|
Holding Company
: |
Roquette Freres |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 200.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 200.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
200.000 |
0.500 |
0.100 |
|
(b) Reserves & Surplus |
8959.621 |
83.339 |
(0.063) |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
20.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
9159.621 |
103.839 |
0.037 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1857.469 |
756.682 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
218.456 |
65.680 |
0.000 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
3.236 |
2.117 |
0.000 |
|
Total Non-current
Liabilities (3) |
2079.161 |
824.479 |
0.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
3851.553 |
1528.498 |
0.000 |
|
(b)
Trade payables |
493.548 |
481.515 |
0.063 |
|
(c)
Other current liabilities |
330.023 |
10270.333 |
0.000 |
|
(d) Short-term
provisions |
16.039 |
54.072 |
0.000 |
|
Total Current
Liabilities (4) |
4691.163 |
12334.418 |
0.063 |
|
|
|
|
|
|
TOTAL |
15929.945 |
13262.736 |
0.100 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
8740.443 |
9371.002 |
0.000 |
|
(ii)
Intangible Assets |
1084.216 |
1290.346 |
0.000 |
|
(iii)
Capital work-in-progress |
167.100 |
5.032 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.670 |
0.630 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1275.258 |
37.048 |
0.000 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
11267.687 |
10704.058 |
0.000 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1891.558 |
900.862 |
0.000 |
|
(c)
Trade receivables |
1454.395 |
1378.166 |
0.000 |
|
(d) Cash
and cash equivalents |
997.153 |
119.694 |
0.100 |
|
(e)
Short-term loans and advances |
244.155 |
78.381 |
0.000 |
|
(f)
Other current assets |
74.997 |
81.575 |
0.000 |
|
Total
Current Assets |
4662.258 |
2558.678 |
0.100 |
|
|
|
|
|
|
TOTAL |
15929.945 |
13262.736 |
0.100 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income from Operations |
13118.312 |
6193.911 |
0.000 |
|
|
|
Other Income |
53.256 |
13.241 |
0.000 |
|
|
|
TOTAL (A) |
13171.568 |
6207.152 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
11099.369 |
5399.090 |
0.063 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2072.199 |
808.062 |
(0.063) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
458.075 |
126.150 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1614.124 |
681.912 |
(0.063) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
986.917 |
490.629 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
627.207 |
191.283 |
(0.063) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
115.757 |
107.881 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
511.450 |
83.402 |
(0.063) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
1.431 |
5.968 |
|
|
|
|
Stores & Spares |
11.841 |
2.082 |
|
|
|
|
Capital Goods |
56.998 |
0.000 |
|
|
|
TOTAL IMPORTS |
70.270 |
8.050 |
NA
|
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
25.57 |
1668.04 |
(6.30) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
3.88
|
1.34 |
0.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.78
|
3.09 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.98
|
1.44 |
(63.00) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
1.84 |
(1.70) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.62
|
22.01 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.99
|
0.21 |
1.59 |
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 |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10366971 |
29/05/2012 |
142,800,000.00 |
INDIAN OVERSEAS BANK |
ASHRAM ROAD BRANCH, ASHRAM ROAD, AHMEDABAD - 380009, GUJARAT, INDIA |
B44331254 |
|
2 |
10366476 |
29/05/2012 |
372,104,000.00 |
STANDARD CHARTERED BANK |
ABHIJIT-II, GROUND FLOOR, NEAR MITHAKHALI SIX ROADS, AHMEDABAD - 380006, GUJARAT, INDIA |
B44153518 |
|
3 |
10366826 |
29/05/2012 |
1,550,000,000.00 |
ORIENTAL BANK OF COMMERCE |
HOTEL MEGHDUT BUILDING, STATION ROAD, AHMEDABAD - 380002, GUJARAT, INDIA |
|
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Other external commercial borrowings [External
Commercial Borrowings availed in Indian Rupee carries interest @ 9% per
annum. The loan is repayable from March 2015 in 20 installments.] |
1250.000 |
0.000 |
|
Deferred sales tax loan [Deferred sales
tax loan is interest free and payable in 10 half yearly instalments each,
starting from 20th December 2013.] |
498.690 |
450.306 |
|
SHORT TERM BORROWINGS |
|
|
|
Foreign currency term loans from banks [Unsecured
Foreign Currency loans carries interest @ 3 to 4% per annum. These are in
nature of Packing credit and have been availed to meet short term working
capital requirements.] |
250.726 |
0.000 |
|
Term loans from others |
71.300 |
0.000 |
|
|
|
|
|
Total |
2070.716 |
450.306 |
CHANGE OF ADDRESS:
The Registered office of the company has been shifted from Abhishree Corporate
Park, Block No. 512/A and B, Ambli Bopal Road, Ahmedabad – 380058, Gujarat,
India to the present address w.e.f.07.11.2012.
CORPORATE INFORMATION
Riddhi Siddhi Corn Processing Private Limited (‘the Company’) was incorporated on August 25, 2010 with its object to acquire and carry the Corn-Wet milling business including industrial undertakings located at Viramgam, Gokak and Rudrapur, respectively on a going concern basis from Riddhi Siddhi Gluco Biols Limited pursuant to Scheme of Arrangement (‘Scheme’) under sections 391 and 394 of the Companies Act, 1956.
Pursuant to the Scheme of Arrangement under section 391 and 394 of the Companies Act, 1956, between the Company and Riddhi Siddhi Gluco Biols Limited becoming operative with effect from May 29, 2012 (‘the effective date’) the Corn-Wet milling business including industrial undertakings located at Viramgam, Gokak and Rudrapur, respectively and corresponding assets and liabilities of Riddhi Siddhi Gluco Biols Limited have vested with the Company retrospectively from October 1, 2011 (‘the appointed date’). Accordingly, previous year Statement of Profit and Loss, the Balance Sheet and the Cash flow dealt with the results of the activities carried out by Riddhi Siddhi Gluco Biols Limited in trust for the Company pending the scheme becoming operative.
The Shareholders’ of the Company at their meeting dated 18th March 2013 have changed the Company’s name from Riddhi Siddhi Corn Processing Private limited to Roquette Riddhi Siddhi Private Limited. The same was approved by the Registrar of Companies on April 8, 2013.
OPERATIONS:
During the year Company has achieved turnover of Rs.
13118.312 Millions compared to previous year of Rs. 6193.911 Millions. Net
Profit of the Company is also increased to Rs. 511.450 Millions compared to the
previous year of Rs. 83.402 Millions. Previous financial year was for six
months therefore figures are not comparable. Board of Directors of Company have
approved the expansion plans of Company and accordingly Company would add
substantial assets over next two three years. This will help to meet the
increasing demand for the product and cater to much wider market.
FIXED ASSETS:
· Land
Buildings
Factory
building
Plant
and equipment
Other
plant and equipment
Furniture
and fixtures
Vehicles
Motor
vehicles
Office
equipment
Computer
equipments
Other
equipments
Goodwill
Brands
and trade marks
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. 62.20 |
|
|
1 |
Rs. 103.12 |
|
Euro |
1 |
Rs. 84.96 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
54 |
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.