MIRA
INFORM REPORT
|
Report Date : |
23.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
RATNAMANI METALS AND TUBES LIMITED |
|
|
|
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Registered
Office : |
17, Rajmugat Society, Naranpura Char Rasta, |
|
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
15.09.1983 |
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Com. Reg. No.: |
04-006460 |
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Capital
Investment / Paid-up Capital : |
Rs. 93.367 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L70109GJ1983PLC006460 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMR01519A |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Manufacturer of Stainless Steel Pipes and Tubes and Carbon
Steel Pipes |
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|
No. of Employees
: |
15000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (66) |
|
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 |
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is an
established company having fine track record. Overall financial
position of the company appears to be strong and healthy. Directors are
reported to be experienced and respectable businessmen. Rating also reflect
the company leadership position in the stainless steel tubes and pipe (SSTP)
segment. 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.
INDIAN ECONOMIC OVERVIEW
N E W S
The economy grew 4.7 %in 2013/14, marking a
second straight year of sub-5 % growth – the worst slowdown in more than a
quarter of a century. The data was below an official estimate of 4.9 % annual
growth and compared with 4.5 % in the last fiscal year. However, the current
account deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic
product, in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year
before.A sharp fall in gold imports due to restrictions on overseas purchases
and muted import of capital goods helped shrink the current account deficit.
Online retailer Flipkart has acquired fashion
portal Myntra as it prepares to battle with the rapidly expanding India arm of
the global e-commerce giant Amazon. The company raised $ 210 million from
Russian Investment firm DST Global which has also invested in companies like
Facebook, Twitter and Alibaba Group.
General Motors will start exporting vehicles
from its Talegaon plant near Pune in the second half of 2014. GM was one of the
few global carmakers that was using its India plant only for the domestic
market.
Google has overtaken Apple as the world’s top
brand in terms of value, according to global market research agency Millward
Brown. Google’s brand value shot up 40 % in a year to $ 158.84 billion. The top
10 of the 100 slots were dominated by US companies.
Infosys lost another heavy weight when B G
Srinivas, a board member put in his papers. He is the third CEO-hopeful to quit
after Chairman N R Narayana Murthy’s return to the company – Ashok Vemuri and V
Balakrishnan being the other two.While Vemuri went on to lead IGate,
Balakrishnan joined politics.
Naresh Goyal – promoted Jet Airways posted
biggest quarterly loss – Rs 2153.37 crore – in the three months ended March 31,
mainly because it has been offering discounts to passengers to fill planes.
William S Pinckney – Chairman and CEO of
Amway India was arrested by the Andhra Pradesh Police in connection with a
complaint against the direct selling firm. This is the second time that he has
been taken into custody. A year, ago the Kerala Police had arrested Pinckney
and two company directors on charges of financial irregularities.
China has told its state-owned enterprises to
sever links with American consulting firms after the United States charged five
Chinese military officers wih hacking US companies. China’s action which
targets consultancies like McKinsey & Co. and the Boston Consulting Group,
sterns from fears that the first are providing trade secrets to the US governments.
India has emerged as a country with some of
the highest unregistered businesses in the world. Indonesia has the maximum
number of shadow businesses, says a study of 68 countries by Imperial College
Business School in London.
Pfizer has abandoned its attempt to buy
AstraZeneca for nearly $ 118 billion after the latter refused an offer of 55
pounds a share.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
AA- (Long Term Rating) |
|
Rating Explanation |
High degree of safety and very low credit
risk. |
|
Date |
04.10.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A1+ (Short Term Rating) |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk. |
|
Date |
04.10.2013 |
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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Rakesh Agarwal |
|
Designation : |
Account Executive |
|
Contact No.: |
91-79-27415501 |
|
Date : |
21.07.2014 |
LOCATIONS
|
Registered/ Sales Office : |
17, Rajmugat Society, Naranpura Char Rasta, Ankur Road Naranpura,
Ahmedabad – 380013, Gujarat, India |
|
Tel. No.: |
91-79-27415501/ 2/ 3/ 4 |
|
Fax No.: |
91-79-27480999 |
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E-Mail : |
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|
Website : |
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Location : |
Owned |
|
|
|
|
Mumbai Office : |
404-B
Sukh Sagar Building, N.S Patkar Marg, Chowpatty, Mumbai – 400007,
Maharashtra, India |
|
Tel. No.: |
91-22-43334555 |
|
Fax No.: |
91-22-43334575 |
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E-Mail : |
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Head Office / Factory 1: |
STAINLESS STEEL TUBES AND PIPES DIVISION Survey
No.769, Ahmedabad – Mehsana Highway, Village – Indrad, Near Chhatral GIDC,
Taluka – Kadi, District – Mehsana, Gujarat, India |
|
Tel. No.: |
91-2764-232254/ 232263/ 233766 |
|
Fax No.: |
91-2764-234105/ 233098 |
|
E-Mail : |
info.sstp@ratnamani.com |
|
Website : |
www.ratnamani.com |
|
|
|
|
Factory 2: |
SAW PIPE DIVISION Plot
No.3306-3309, GIDC; Chhatral, Taluka – Kalol, District – Mehsana, |
|
Tel. No.: |
91-2764-232234/
233919/ 232409 |
|
Fax No.: |
91-2764-233859 |
|
Email : |
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|
|
Factory 3: |
Survey No.474, Village
– Bhimasar, Taluka – Anjar, District–Kutch, |
|
Tel. No.: |
91-2836-285538/
285539 |
|
Fax No.: |
91-2836-285540 |
|
Email : |
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Branch Office
: |
44, C.P.
Tank Road, Mumbai – 400004, Maharashtra, India |
|
|
|
|
Ratnamani Techno Casts Limited (RTCL) : |
Plot No.3310, GIDC Estate Chhatral, Phase IV, Ahmedabad –
Mehsana Highway, P.O. Chhatral, Taluka Kalol, District Gandhinagar – 382729,
Gujarat, India |
|
Tel. No.: |
91-2764-233327/ 234488 |
|
Fax No.: |
91-2764-233165 |
|
E-Mail : |
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|
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|
Sales Office 2 :
|
404-B, Sukh Sagar
Building, N.S. Patkar Marg, Chowpatty, Mumbai – 400007, Maharashtra,
India |
|
|
|
|
Sales Office 3 :
|
516, Ansal
Chamber, II Bhikaji Cama Place, New Delhi – 110066, India |
DIRECTORS
As on 31.03.2013
|
Name : |
Mr. Prakash M. Sanghvi |
|
Designation : |
Chairman and Managing Director |
|
Date of Birth/Age : |
57 Years |
|
Qualification : |
Matriculation |
|
Date of Appointment : |
12.06.1989 |
|
|
|
|
Name : |
Mr. Jayantilal M. Sanghvi |
|
Designation : |
Whole-Time Director |
|
Date of Birth/Age : |
55 Years |
|
Qualification : |
B.Com (FY) |
|
Experience : |
33 Years |
|
Date of Appointment : |
12.06.1989 |
|
|
|
|
Name : |
Mr. Shantilal M. Sanghvi |
|
Designation : |
Whole-Time Director |
|
Date of Birth/Age : |
49 Years |
|
Qualification : |
Under Graduate |
|
Experience : |
31 Years |
|
Date of Appointment : |
01.11.1998 |
|
|
|
|
Name : |
Mr. Divyabhash Chandrakant Anjaria |
|
Designation : |
Director |
|
Date of Birth/ Age : |
67 Years |
|
Qualification : |
PGDM (Finance) from IIM, Ahmedabad |
|
Experience : |
20 years
experience with Citibank N. A. out of which 7 years in |
|
|
|
|
Name : |
Dr. Vinodkumar Mahavirprasad Agrawal |
|
Designation : |
Director |
|
Date of Birth/ Age : |
66 Years |
|
Qualification : |
MBBS |
|
Experience : |
Renowned doctor in practice since last 40 years |
|
|
|
|
Name : |
Mr.
Pravinchandra M. Mehta |
|
Designation : |
Director |
|
Date of Birth/ Age : |
74 Years |
|
Qualification : |
B.E. (Mechanical) |
KEY EXECUTIVES
|
Name : |
Mrs. Abha Mishra |
|
Designation : |
Account Department |
|
|
|
|
Name : |
Mr. Virag Y. Joshi |
|
Designation : |
Company Secretary |
|
|
|
|
Name : |
Mr. Malkatha |
|
Designation : |
Accounts Manager |
|
|
|
|
Name : |
Mr. Rakesh Agarwal |
|
Designation : |
Account Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.06.2014
|
Category of
Shareholder |
No. of Shares |
Percentage of
holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
27971990 |
59.92 |
|
|
27971990 |
59.92 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
27971990 |
59.92 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
151711 |
0.32 |
|
|
2268 |
0.00 |
|
|
6106182 |
13.08 |
|
|
6260161 |
13.41 |
|
|
|
|
|
|
846459 |
1.81 |
|
|
|
|
|
|
3382651 |
7.25 |
|
|
7802346 |
16.71 |
|
|
419843 |
0.90 |
|
|
342836 |
0.73 |
|
|
61965 |
0.13 |
|
|
15042 |
0.03 |
|
|
12451299 |
26.67 |
|
Total Public shareholding (B) |
18711460 |
40.08 |
|
Total (A)+(B) |
46683450 |
100.00 |
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
46683450 |
0.00 |
Shareholding
belonging to the category "Promoter and Promoter Group"
|
Sl.No. |
Name of the Shareholder |
Details of Shares
held |
Encumbered shares
(*) |
|||
|
|
|
No. of Shares held |
As a % of grand
total (A)+(B)+(C) |
No |
As a percentage |
As a % of |
|
1 |
Jayantilal Mishrimal Sanghvi |
19,02,855 |
4.08 |
0 |
0.00 |
0.00 |
|
2 |
Mishrimal N. Sanghvi |
16,93,000 |
3.63 |
0 |
0.00 |
0.00 |
|
3 |
Prakash Mishrimal Sanghvi |
13,99,000 |
3.00 |
0 |
0.00 |
0.00 |
|
4 |
Prakash M. Sanghvi |
12,83,259 |
2.75 |
0 |
0.00 |
0.00 |
|
5 |
Vimla Pavankumar Sanghvi |
12,22,415 |
2.62 |
0 |
0.00 |
0.00 |
|
6 |
Babulal M. Sanghvi |
11,09,330 |
2.38 |
0 |
0.00 |
0.00 |
|
7 |
Nilesh Prakash Sanghvi |
8,50,800 |
1.82 |
0 |
0.00 |
0.00 |
|
8 |
Shanti Sanghvi |
8,05,750 |
1.73 |
0 |
0.00 |
0.00 |
|
9 |
Vijay Chunilal Sanghvi |
7,70,000 |
1.65 |
0 |
0.00 |
0.00 |
|
10 |
Shantilal Mishrimal Sanghvi |
6,83,245 |
1.46 |
0 |
0.00 |
0.00 |
|
11 |
Reshmidevi Prakash Sanghvi |
6,32,665 |
1.36 |
0 |
0.00 |
0.00 |
|
12 |
Arunaben C. Sanghvi |
6,25,205 |
1.34 |
0 |
0.00 |
0.00 |
|
13 |
Talsiben Mishrimal Sanghvi |
5,92,245 |
1.27 |
0 |
0.00 |
0.00 |
|
14 |
Jayanti M. Sanghvi |
5,85,000 |
1.25 |
0 |
0.00 |
0.00 |
|
15 |
Prakash Mishrimal Sanghvi |
5,40,000 |
1.16 |
0 |
0.00 |
0.00 |
|
16 |
Shantaben Babulal Sanghvi |
5,26,665 |
1.13 |
0 |
0.00 |
0.00 |
|
17 |
Prashant Jayantilal Sanghvi |
5,16,910 |
1.11 |
0 |
0.00 |
0.00 |
|
18 |
Reshmidevi P. Sanghvi |
5,07,835 |
1.09 |
0 |
0.00 |
0.00 |
|
19 |
Babulal Mishrimal Sanghvi (Huf) |
5,05,495 |
1.08 |
0 |
0.00 |
0.00 |
|
20 |
Jigar Prakash Sanghvi |
5,04,415 |
1.08 |
0 |
0.00 |
0.00 |
|
21 |
Vijay C. Sanghvi |
4,92,875 |
1.06 |
0 |
0.00 |
0.00 |
|
22 |
Sanghvi Shantilal Mishrimal(Huf) |
4,62,165 |
0.99 |
0 |
0.00 |
0.00 |
|
23 |
Prakash Sanghvi |
4,50,106 |
0.96 |
0 |
0.00 |
0.00 |
|
24 |
Reshmidevi Sanghvi |
4,48,250 |
0.96 |
0 |
0.00 |
0.00 |
|
25 |
Jitendra B. Sanghvi |
4,47,160 |
0.96 |
0 |
0.00 |
0.00 |
|
26 |
Sanghvi Prakashmal Mishrimal(Huf) |
4,22,330 |
0.90 |
0 |
0.00 |
0.00 |
|
27 |
Jayantilal M Sanghvi (Huf) |
4,16,835 |
0.89 |
0 |
0.00 |
0.00 |
|
28 |
Sanghvi Chunilal Mishrimal (Huf) |
4,09,000 |
0.88 |
0 |
0.00 |
0.00 |
|
29 |
Manoj Prakash Sanghvi |
3,89,165 |
0.83 |
0 |
0.00 |
0.00 |
|
30 |
Chandra Vijay Sanghvi |
3,53,125 |
0.76 |
0 |
0.00 |
0.00 |
|
31 |
Chunilal M. Sanghvi |
3,43,010 |
0.73 |
0 |
0.00 |
0.00 |
|
32 |
Shobhnadevi Jayantilal Sanghvi |
3,41,665 |
0.73 |
0 |
0.00 |
0.00 |
|
33 |
Vimla Pavan Sanghvi |
3,30,000 |
0.71 |
0 |
0.00 |
0.00 |
|
34 |
Pavankumar Mishrimal Sanghvi |
3,13,600 |
0.67 |
313600 |
100.00 |
0.67 |
|
35 |
Manoj P. Sanghvi |
3,05,000 |
0.65 |
0 |
0.00 |
0.00 |
|
36 |
Shashiben Shantilal Sanghvi |
2,96,000 |
0.63 |
0 |
0.00 |
0.00 |
|
37 |
Shashi Shantilal Sanghvi |
2,92,250 |
0.63 |
0 |
0.00 |
0.00 |
|
38 |
Ravi Pavankumar Sanghvi |
2,55,415 |
0.55 |
0 |
0.00 |
0.00 |
|
39 |
Shashi Shantilal Sanghvi |
2,50,000 |
0.54 |
0 |
0.00 |
0.00 |
|
40 |
Manoj Prakash Sanghvi |
2,44,330 |
0.52 |
0 |
0.00 |
0.00 |
|
41 |
Mahendra C. Sanghvi |
2,29,080 |
0.49 |
0 |
0.00 |
0.00 |
|
42 |
Usha M. Sanghvi |
2,26,500 |
0.49 |
0 |
0.00 |
0.00 |
|
43 |
Ravi Pavan Sanghvi |
2,10,000 |
0.45 |
0 |
0.00 |
0.00 |
|
44 |
Jigar Prakash Sanghvi |
2,05,000 |
0.44 |
0 |
0.00 |
0.00 |
|
45 |
Jitendra B. Sanghvi |
1,85,000 |
0.40 |
0 |
0.00 |
0.00 |
|
46 |
Yash Shantilal Sanghvi |
1,80,000 |
0.39 |
0 |
0.00 |
0.00 |
|
47 |
Pavan Sanghvi |
1,50,000 |
0.32 |
0 |
0.00 |
0.00 |
|
48 |
Pavankumar Mishrimal Sanghvi (Huf) |
1,31,250 |
0.28 |
0 |
0.00 |
0.00 |
|
49 |
Yash Shantilal Sanghvi |
1,30,000 |
0.28 |
0 |
0.00 |
0.00 |
|
50 |
Prashant J. Sanghvi |
1,25,000 |
0.27 |
0 |
0.00 |
0.00 |
|
51 |
Nilesh Prakash Sanghvi |
1,15,000 |
0.25 |
0 |
0.00 |
0.00 |
|
52 |
Ravi Pavan Sanghvi |
1,15,000 |
0.25 |
0 |
0.00 |
0.00 |
|
53 |
Dimple M. Sanghvi |
1,12,500 |
0.24 |
0 |
0.00 |
0.00 |
|
54 |
Pavan Mishrimal Sanghvi |
1,03,165 |
0.22 |
0 |
0.00 |
0.00 |
|
55 |
Dimple Manoj Sanghvi |
1,00,000 |
0.21 |
0 |
0.00 |
0.00 |
|
56 |
Sarika Prashant Sanghvi |
1,00,000 |
0.21 |
0 |
0.00 |
0.00 |
|
57 |
Shantilal Mishrimal Sanghvi |
98,000 |
0.21 |
0 |
0.00 |
0.00 |
|
58 |
Pavankumar M. Sanghvi |
86,400 |
0.19 |
86400 |
100.00 |
0.19 |
|
59 |
Latakumari Prakash Sanghvi |
85,125 |
0.18 |
0 |
0.00 |
0.00 |
|
60 |
Prashant Jayantilal Sanghvi |
85,000 |
0.18 |
0 |
0.00 |
0.00 |
|
61 |
Sarika P. Sanghvi |
75,000 |
0.16 |
0 |
0.00 |
0.00 |
|
62 |
Shobhnadevi J. Sanghvi |
70,000 |
0.15 |
0 |
0.00 |
0.00 |
|
63 |
Pinky Jitendra Sanghvi |
50,000 |
0.11 |
0 |
0.00 |
0.00 |
|
64 |
Prakashmal Mishrimal Sanghvi (Huf) |
50,000 |
0.11 |
0 |
0.00 |
0.00 |
|
65 |
Prashant J. Sanghvi |
49,830 |
0.11 |
0 |
0.00 |
0.00 |
|
66 |
Shital Jayantilal Sanghvi |
49,830 |
0.11 |
0 |
0.00 |
0.00 |
|
67 |
Vijay C. Sanghvi |
47,500 |
0.10 |
0 |
0.00 |
0.00 |
|
68 |
Jigar Prakash Sanghvi |
46,905 |
0.10 |
0 |
0.00 |
0.00 |
|
69 |
Mishrimal N. Sanghvi (Huf) |
41,530 |
0.09 |
0 |
0.00 |
0.00 |
|
70 |
Jayantilal M Sanghvi (Huf) |
39,830 |
0.09 |
0 |
0.00 |
0.00 |
|
71 |
Usha M. Sanghvi |
33,330 |
0.07 |
0 |
0.00 |
0.00 |
|
72 |
Shobhnadevi Jayantilal Sanghvi |
29,750 |
0.06 |
0 |
0.00 |
0.00 |
|
73 |
Rishabh M. Sanghvi |
25,000 |
0.05 |
0 |
0.00 |
0.00 |
|
74 |
Vimla Pavan Sanghvi |
21,665 |
0.05 |
0 |
0.00 |
0.00 |
|
75 |
Yash Sanghvi |
17,000 |
0.04 |
0 |
0.00 |
0.00 |
|
76 |
Jayantilal M. Sanghvi |
15,000 |
0.03 |
0 |
0.00 |
0.00 |
|
77 |
Arunaben Sanghvi |
5,000 |
0.01 |
0 |
0.00 |
0.00 |
|
78 |
Pavankumar M. Sanghvi |
5,000 |
0.01 |
0 |
0.00 |
0.00 |
|
79 |
Jayantilal M. Sanghvi |
3,580 |
0.01 |
0 |
0.00 |
0.00 |
|
80 |
Chunilal M. Sanghvi |
3,000 |
0.01 |
0 |
0.00 |
0.00 |
|
81 |
Shantaben Babulal Sanghvi |
2,250 |
0.00 |
0 |
0.00 |
0.00 |
|
82 |
Vijay C. Sanghvi |
435 |
0.00 |
0 |
0.00 |
0.00 |
|
83 |
Mishrimal N. Sanghvi |
165 |
0.00 |
0 |
0.00 |
0.00 |
|
|
Total |
2,79,71,990 |
59.92 |
400000 |
1.43 |
0.86 |
Shareholding
belonging to the category "Public" and holding more than 1% of the
Total No. of Shares
|
Sl. No. |
Name of the
Shareholder |
No. of Shares held |
Shares as % of
Total No. of Shares |
|
|
|
|
|
|
1 |
Nalanda India Fund Limited |
3906664 |
8.37 |
|
2 |
Pukhraj H. Bhansali |
1500000 |
3.21 |
|
3 |
Champalal Bachraj Bhansali |
1500000 |
3.21 |
|
4 |
Nalanda India Equity Fund Limited |
1461644 |
3.13 |
|
5 |
Darshana R. Shah |
1000000 |
2.14 |
|
|
Total |
9368308 |
20.07 |
Shareholding
belonging to the category "Public" and holding more than 5% of the
Total No. of Shares
|
Sl. No. |
Name(s) of the
shareholder(s) and the Persons Acting in Concert (PAC) with them |
No. of Shares |
Shares as % of
Total No. of Shares |
|
|
|
|
|
|
1 |
Nalanda India Fund Limited |
3906664 |
8.37 |
|
2 |
Nalanda India Equity Fund Limited (PAC) |
1461644 |
3.13 |
|
|
Total |
5368308 |
11.50 |
BUSINESS DETAILS
|
Line of Business
: |
Manufacturer of Stainless Steel Pipes and Tubes and Carbon
Steel Pipes |
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|
|
|
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|
Products : |
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|
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|
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|
Exports : |
|
|
||||||||||||
|
Products : |
Finished Goods |
|
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|
Countries : |
·
UK ·
Germany |
|
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|
|
|
|
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|
Imports : |
|
|
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|
Products : |
Raw Materials |
|
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|
Countries : |
·
Korea ·
Japan ·
China |
|
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|
|
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|
Terms : |
|
|
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|
Selling : |
L/C / Credit |
|
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|
|
|
|
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|
Purchasing : |
L/C / Credit |
|
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GENERAL INFORMATION
|
Customers : |
End Users |
|||||||||||||||||||||||||||
|
|
|
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|
No. of Employees : |
15000 (Approximately) |
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|
|
|
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|
Bankers : |
· Dena Bank · Punjab National Bank, Ashram Road, Ahmedabad, Gujarat, India · State Bank of India, Commercial Branch, Ahmedabad – 380013, Gujarat, India · IDBI Bank Limited ·
ICICI Bank Limited |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name 1 : |
Mehta Lodha and Company Chartered Accountants |
|
Address : |
63, Hirabhai Market, Diwan Ballubhai Road, Ahmedabad – 380022,
Gujarat, India |
|
|
|
|
Name 2 : |
S.R. Batliboi and Associates Chartered Accountants |
|
|
|
|
Cost Auditors : |
N.D. Birla and Company Cost Accountants |
|
|
|
|
Enterprises owned or significantly influenced by key management
personnel or their relatives : (As on 31.03.2013) |
· Ratnamani Food Products Private Limited · Ratnamani Marketing Private Limited ·
Ratnamani Healthcare Private Limited |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs.93.367 Millions
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
75000000 |
Equity Shares |
Rs.2/- each |
Rs.150.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
46415609 |
Equity Shares |
Rs.2/- each |
Rs.92.831 millions |
|
|
|
|
|
Reconciliation of the
Equity Shares outstanding at the beginning and at the end of the reporting
period
(Rs. in millions)
|
Particular |
31.03.2013 |
|
At the beginning of the year |
92.831 |
|
Add: Issued during the year- ESOS |
0.000 |
|
Outstanding at
the end of the year |
92.831 |
|
|
|
|
At the beginning of the year |
46374959 |
|
Add: Shares issued on exercise of Employee Stock Options |
40650 |
|
Equity Shares at
the end of the year |
46415609 |
Terms/Rights
attached to Equity Shares
– The Company has only
one class of Equity Shares having a par value of Rs.2/- per share. Each holder
of Equity Shares is entitled to one vote per share. The Company declares and
pays dividend in Indian Rupees. The dividend proposed by the Board of Directors
is subject to approval of the Shareholders at the ensuing Annual General
Meeting. In the event of liquidation of the Company, the holders of Equity
Shares will be entitled to receive remaining assets of the Company, after
distribution of all preferential amounts. The distribution will be in
proportion to the number of Equity Shares held by Share holders.
Details of
Shareholders holding more than 5% Equity Shares in the Company
|
Name of the
Shareholder |
No.
of Shares |
%
held |
|
Nalanda India Equity Fund Limited |
3906664 |
8.42% |
|
Prakash M. Sanghvi |
3111668 |
6.70% |
|
Jayanti M. Sanghvi |
2506435 |
5.40% |
Shares Reserved
for issue under option
The Company
reserved issuance of 2250000 Equity Shares of Rs.2/- each for offering to eligible
employees of the Company under Employees Stock Option Scheme 2006 at a price of
Rs.59.40 per option plus all applicable taxes, as may be levied in this regard
on the Company. The options were granted on 31st October, 2006 and have vested
completely. Out of the reserved Equity Shares, 1415609 Equity Shares have been
issued till date. The maximum exercise period is 8 years from the date of grant
of options.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
93.367 |
92.831 |
92.831 |
|
(b) Reserves & Surplus |
7571.986 |
6374.309 |
5232.024 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
7665.353 |
6467.140 |
5324.855 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
161.307 |
420.175 |
546.969 |
|
(b) Deferred tax liabilities (Net) |
466.806 |
399.587 |
356.642 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
628.113 |
819.762 |
903.611 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
568.663 |
772.569 |
2198.394 |
|
(b) Trade payables |
1531.001 |
1005.979 |
955.126 |
|
(c) Other current
liabilities |
737.028 |
890.720 |
549.192 |
|
(d) Short-term provisions |
345.923 |
330.709 |
212.647 |
|
Total Current Liabilities (4) |
3182.615 |
2999.977 |
3915.359 |
|
|
|
|
|
|
TOTAL |
11476.081 |
10286.879 |
10143.825 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
|
4548.114 |
3875.783 |
3645.504 |
|
(ii) Intangible Assets |
|
29.065 |
22.282 |
|
(iii) Capital
work-in-progress |
|
228.558 |
283.296 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.095 |
0.090 |
0.084 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
79.853 |
89.484 |
63.535 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
4628.062 |
4222.980 |
4014.701 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
540.528 |
291.052 |
65.044 |
|
(b) Inventories |
2517.154 |
2327.343 |
2838.061 |
|
(c) Trade receivables |
2781.120 |
2511.887 |
2288.886 |
|
(d) Cash and cash
equivalents |
434.119 |
600.359 |
706.911 |
|
(e) Short-term loans and
advances |
556.918 |
315.664 |
207.848 |
|
(f) Other current assets |
18.180 |
17.594 |
22.374 |
|
Total Current Assets |
6848.019 |
6063.899 |
6129.124 |
|
|
|
|
|
|
TOTAL |
11476.081 |
10286.879 |
10143.825 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
13261.049 |
12011.275 |
12217.402 |
|
|
|
Other Income |
137.385 |
182.724 |
58.339 |
|
|
|
TOTAL (A) |
13398.434 |
12193.999 |
12275.741 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Raw Materials Consumed |
8097.962 |
7468.283 |
7871.654 |
|
|
|
Purchase of Stock-in-trade |
228.917 |
47.660 |
34.985 |
|
|
|
Changes in Inventories of Finished Goods, Work-in-Process |
79.087 |
(117.772) |
47.811 |
|
|
|
Employee Benefits Expense |
789.299 |
721.198 |
567.471 |
|
|
|
Other Expenses |
1498.907 |
1513.426 |
1771.695 |
|
|
|
TOTAL (B) |
10694.172 |
9632.795 |
10293.616 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2704.262 |
2561.204 |
1982.125 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
103.395 |
121.366 |
165.599 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2600.867 |
2439.838 |
1816.526 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
458.648 |
424.725 |
424.915 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2142.219 |
2015.113 |
1391.611 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
714.137 |
655.613 |
277.192 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1428.082 |
1359.500 |
1114.419 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1713.603 |
1171.318 |
718.735 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
600.000 |
500.000 |
|
|
|
Proposed Dividend with dividend tax |
NA |
217.215 |
161.836 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
1713.603 |
1171.318 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export at F.O.B. value |
NA |
3437.626 |
2885.870 |
|
|
TOTAL EARNINGS |
NA |
3437.626 |
2885.870 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
2467.397 |
3257.849 |
|
|
|
Components and Spare Parts |
NA |
148.454 |
50.892 |
|
|
|
Capital Goods |
NA |
238.315 |
216.386 |
|
|
TOTAL IMPORTS |
NA |
2854.166 |
3525.127 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
- Basic |
30.74 |
29.29 |
24.02 |
|
|
|
- Diluted |
30.49 |
29.14 |
23.90 |
|
Note:
1. The above results were reviewed by Audit Committee and taken on record by the Board of Directors at its meeting held on May 28, 2014.
2. The Company has only single Reportable Business Segment in terms of requirements of Accounting Standard 17.
3. Previous quarter’s figures have been re-grouped / re-arranged wherever necessary.
4. The figures of last quarter are the balancing figures between audited figures in respect of the full financial year and the published year to date figures upto the third quarter of the current financial year.
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
10.66 |
11.15 |
9.08 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
16.15 |
16.78 |
11.39 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.67 |
20.03 |
14.11 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28 |
0.31 |
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.10 |
0.18 |
0.52 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.15 |
2.02 |
1.57 |
FINANCIAL ANALYSIS
[all figures are in
Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
92.831 |
92.831 |
93.367 |
|
Reserves & Surplus |
5232.024 |
6374.309 |
7571.986 |
|
Net
worth |
5324.855 |
6467.140 |
7665.353 |
|
|
|
|
|
|
long-term borrowings |
546.969 |
420.175 |
161.307 |
|
Short term borrowings |
2198.394 |
772.569 |
568.663 |
|
Total
borrowings |
2745.363 |
1192.744 |
729.970 |
|
Debt/Equity
ratio |
0.516 |
0.184 |
0.095 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
12217.402 |
12011.275 |
13261.049 |
|
|
|
-1.687 |
10.405 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
12217.402 |
12011.275 |
13261.049 |
|
Profit |
1114.419 |
1359.500 |
1428.082 |
|
|
9.12% |
11.32% |
10.77% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM BORROWING
Rs. In Millions
|
Particular |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
Current maturities of long-term Borrowing |
NA |
162.353 |
152.443 |
|
|
|
|
|
|
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 |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
Yes |
|
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 |
LITIGATIONS DETAILS
HIGH COURT OF GUJARAT
STAMP NUMBER No. 2513 of 2012
|
Status : PENDING |
CCIN No : 001087201202513 |
|
|
|
|
Last Listing Date: |
26/12/2012 |
|
Coram |
ADDITIONAL REGISTRAR ( JUDICIAL) |
|
S.NO. |
Name of the
Petitioner |
Advocate On Record |
|
1 |
COMMISSIONER OF CENTRAL EXCISEAHMEDABAD III |
MS MANISHA LAVKUMAR for: null |
1|
S.NO. |
Name of the
Respondant |
Advocate On Record |
|
1 |
RATNAMANI METALS AND TUBES LIMITED |
|
|
Presented On |
: 11/12/2012 |
Registered On |
: 11/12/2012 |
|
Bench Category |
: DIVISION BENCH |
District |
: AHMEDABAD |
|
Case Originated
From |
: THROUGH ADVOCATE |
Listed |
: 0 times |
|
StageName |
: OFFICE OBJECTION (FILING STAGE) |
||
OFFICE OBJECTION
|
Filing Stage |
WHETHER INDEX-CUM-CHRONOLOGY OF DOCUMNETS AND EVENTS FILED ? WHETHER PROPER & FULL COURT FEE IS PAID ? WHETHER FILED WITHIN LIMITATION ? WHETHER DELAY CONDONATION APPLICATION IS FILED ? WHETHER PAGING IS DONE ? WHETHER II SET FILED ? WHETHER COPIES ARE LEGIBLE AND WHETHER TYPED COPIES OF HAND WRITTEN ANNEXURES FILED ? WHETHER COPIES ARE TRUE COPIES SO SIGNED BY ADVOCATE ? WHETHER THE ORGINAL POSITIONS OF THE PARTIES STATED ? |
|
Classification |
DB - OJ - TAX APPEAL - CENTRAL EXCISE ACT, 1944 - UNDER SECTION 35G |
|
Act |
CENTRAL EXCISES AND SALT ACT, 1944 |
OTHER FORUMS
|
S.No. |
CASEDETAILS |
TRIBUNAL REFERRENCE |
ORDER PASSED BY |
JUDGEMENT DATE |
PLACE |
|
1 |
A/803/WZB/AHD/2012 |
CETSA WEST ZONAL BENCH AHMEDABAD |
TECHICAL MEMBER AND JUDICIAL MEMBER |
31/05/2012 |
AHMEDABAD |
OFFICE DETAILS
|
S. No. |
Filing Date |
Document Name |
Advocate Name |
Court Fee on
Document |
Document Details |
|
1 |
11/12/2012 |
CERTIFIED COPY |
MS MANISHA LAVKUMAR ADVOCATE |
2 |
MS MANISHA LAVKUMAR:1 |
|
2 |
11/12/2012 |
MEMO OF APPEAL/PETITION/SUIT |
MS MANISHA LAVKUMAR ADVOCATE |
50 |
MS MANISHA LAVKUMAR:1 |
|
3 |
20/12/2012 |
CERTIFIED COPY |
MS MANISHA LAVKUMAR ADVOCATE |
2 |
MS MANISHA LAVKUMAR:1 |
COURT PROCEEDINGS
|
S. No. |
Notified Date |
CourtCode |
Board Sr. No. |
Stage |
Action |
Coram |
|
1 |
26/12/2012 |
51 |
- |
OFFICE OBJECTION REMOVED |
NEXT DATE |
ADDITIONAL REGISTRAR ( JUDICIAL) |
UNSECURED LOAN
Rs.
In Millions
|
Particular |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
SHORT TERM
BORROWINGS |
|
|
|
FROM BANKS |
|
|
|
Other Loans and Advances |
|
|
|
Export Packing Credit Facility |
|
0.000 |
|
Buyer's Credits in Foreign Currencies |
NA |
618.270 |
|
FROM OTHERS |
|
|
|
Unsecured Loans from Related Parties |
|
0.000 |
|
Total |
NA |
618.270 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10178252 |
16/09/2009 |
1,217,000,000.00 |
ICICI BANK LIMITED |
9TH FLOOR, JMC HOUSE, OPP. PARIMAL GARDEN, AHMEDABAD, GUJARAT - 380006, INDIA |
A70863808 |
|
2 |
10137333 |
15/01/2009 |
396,000,000.00 |
3I INFOTECH TRUSTEESHIP SERVICES LIMITED |
3RD TO 6TH FLOOR, INTERNATIONAL INFOTECH PARK,, TOWER NO.5, VASHI RAILWAY STATION COMPLEX, VASHI, NAVI MUMBAI, MAHARASHTRA - 400703, INDIA |
A54501564 |
|
3 |
10063901 |
03/08/2007 |
531,960,000.00 |
UNIT TRUST OF INDIA INVESTMENT ADVISORY SERVICES L IMITED |
UTI TOWER GN BLOCKBANDRA KURLA COMPLEX, BANDRA EAST, MUMBAI, MAHARASHTRA - 400051, INDIA |
A21174933 |
|
4 |
80001941 |
21/04/2009 * |
3,650,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, "PARAMSIDDHI" COMPEX, OPP. V. S. HOSPITAL, ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006, INDIA |
A62080056 |
FIXED
ASSETS:
Tangible Assets
· Lease Hold Land
· Freehold Land
· Buildings
· Plant and Machinery
· Furniture and Fixtures
· Office Equipments
· Vehicles
Intangible Assets
· Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was the
subject of any formal or informal allegations, prosecutions or other official
proceeding for making any prohibited payments or other improper payments to
government officials for engaging in prohibited transactions or with designated
parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.24 |
|
|
1 |
Rs.102.87 |
|
Euro |
1 |
Rs.81.44 |
INFORMATION DETAILS
|
Information Gathered
by : |
PLK |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
66 |
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.