MIRA
INFORM REPORT
|
Report Date : |
25.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
RUBY MACONS LIMITED |
|
|
|
|
Registered
Office : |
A-203/204, Angelina Apartments, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
08.05.1986 |
|
|
|
|
Com. Reg. No.: |
11-039768 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.33.318 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28920MH1986PLC039768 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
SRTR01608F MUMR14446F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACR1939A AABCR0343K |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer Exporter and Importer of Kraft Papers (Test Liner and
Fluting Papers) and Supplier of Paper and Pulp Making Machineries and Their
Parts. |
|
|
|
|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (64) |
|
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 |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is a subsidiary of “MWV Wadco India Private Limited, India”.
It is a well-established company having a fine track record. The rating take into account the established operations of RML’s in
paper industry as one of the leading manufacturers of test-liner, diversified
customer base, healthy financial risk profile and decent profitability levels
of the company. 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. Note: As claimed by
Mr. Anant Korde, Accounts Executive that only share and director of the
subject company has been acquired by MWV WADCO India Private Limited w.e.f.
30th November, 2012. Name of the company has not changed with ROC.
|
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
NEWS
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 with 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 |
CARE |
|
Rating |
Long Term Bank Facilities: A+ |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
07.02.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities: A1+ |
|
Rating Explanation |
Very Strong degree of safety and lowest
credit risk. |
|
Date |
07.02.2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ 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. Purshottam Gupta |
|
Designation : |
Assistant Manager – Finance and Compliance |
|
Contact No.: |
91-260-3050000 |
|
Date : |
22.07.2014 |
LOCATIONS
|
Registered Office : |
A-203/204, Angelina Apartments, Srojini Road, Vile Parle (West),
Mumbai – 400 056, Maharashtra, India |
|
Tel. No.: |
91-22-26186771/ 72 |
|
Fax No.: |
91-22-26186773/ 74 |
|
E-Mail : |
|
|
Website : |
|
|
Area: |
1500 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
Plot No.789/4,
III Phase Road, GIDC, Vapi – 396 195, Gujarat, India |
|
Tel. No.: |
91-260-3050000 |
|
Fax No.: |
91-260-3050010 |
|
E-Mail : |
|
|
Area : |
17500 sq. mtr. |
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
206/6/3, Amrut Industrial Estate, Opposite Dadra Check Post, U.T. of
Dadra and Nagar Haveli, India |
|
Area : |
6000 sq. mtr. |
|
Location : |
Owned |
|
|
|
|
Factory 3 : |
Survey No.56/1, Village Morai, Via Vapi, Vapi – 396 191, Gujarat,
India |
|
Area : |
26 Acres |
|
Location : |
Owned |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Gautam Sirkar |
|
Designation : |
Director |
|
Address : |
B-702, Zen
Garden, 6 Artillery, Bangalore – 560008, Karnataka, India |
|
Date of Birth/Age : |
28.04.1956 |
|
Date of Appointment : |
30.11.2012 |
|
DIN No.: |
01875274 |
|
|
|
|
Name : |
Mr. Piyush Ranjan
|
|
Designation : |
Director |
|
Address : |
I-202, Crescent
I, The Woods, Near Fountain In Kalewadi Phata, Pune – 411027, Maharashtra,
India |
|
Date of Birth/Age : |
06.12.1971 |
|
Date of Appointment : |
30.11.2012 |
|
DIN No.: |
02773879 |
|
|
|
|
Name : |
Mr. Peter
Christian Durette |
|
Designation : |
Director |
|
Address : |
319, Wickhan Glen
Drive Richmond VA 232 386161 Richmond VA |
|
Date of Birth/Age : |
21.05.1973 |
|
Date of Appointment : |
30.11.2012 |
|
DIN No.: |
06393740 |
KEY EXECUTIVES
|
Name : |
Mr. Anand Korde |
|
Designation : |
Accounts Executive |
|
|
|
|
Name : |
Ms. Archana |
|
Designation : |
Accounts Executive |
|
|
|
|
Name : |
Mr. Purshottam Gupta |
|
Designation : |
Assistant Manager – Finance and Compliance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
MWV Wadco India Private Limited, India |
|
3331769 |
|
Rashna Hoshang Khan |
|
1 |
|
Homair N. Vakil |
|
1 |
|
Yazdi Piroj Dandiwala |
|
1 |
|
Darius Kakalia |
|
1 |
|
Rajesh Satpalkar |
|
1 |
|
Siddharth S. Thacker |
|
1 |
|
Total
|
|
3331775 |
AS ON 30.09.2013
|
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] |
|
99.99 |
|
Directors
or relatives of directors |
|
0.01 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer Exporter and Importer of Kraft Papers (Test Liner and
Fluting Papers) and Supplier of Paper and Pulp Making Machineries and Their
Parts. |
||||
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|
Products : |
|
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Exports : |
|
||||
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Products : |
Finished Goods |
||||
|
Countries : |
· USA · Dubai · Nepal · Bhutan |
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|
|
|
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Imports : |
|
||||
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Products : |
Raw Materials |
||||
|
Countries : |
· USA · UAE |
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Terms : |
|
||||
|
Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
|||||||||||||||||||||
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No. of Employees : |
500 (Approximately) |
|||||||||||||||||||||
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|
Bankers : |
·
Bank of Baroda, Industrial Estate Branch, Vapi,
Gujarat, India · State Bank of India, MID Corporate Branch, Vapi Industrial Estate, Vapi – 396195, Gujarat, India (Tel. No.: 91-260-2410238) · Citi Bank, Vapi, Gujarat, India |
|||||||||||||||||||||
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|
|||||||||||||||||||||
|
Facilities : |
Overdraft Facility: Rs.1560.000 millions (From State Bank of
India)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered accountants |
|
Address : |
12, Dr. A.B. Road, Opposite Shiv Sagar Estate, Worli, Mumbai – 400
067, Maharashtra, India |
|
PAN No.: |
AABFD7919A |
|
|
|
|
Holding Company: |
·
MWV Wadco India Private Limited, India |
|
|
|
|
Ultimate Holding Company: |
·
Mead West Vaco Corporation, United States |
|
|
|
|
Fellow Subsidiary Companies: |
·
MWV Services Inc., United States ·
Meadwestvaco India Private Limited, India |
|
|
|
|
Other Related Parties: |
·
Mehali Inc., United States |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3500000 |
Equity Shares |
Rs.10/- each |
Rs.35.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3331775 |
Equity Shares |
Rs.10/- each |
Rs.33.318
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 |
33.318 |
33.318 |
33.318 |
|
(b) Reserves & Surplus |
1778.649 |
1471.776 |
1208.638 |
|
(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) |
1811.967 |
1505.094 |
1241.956 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
30.000 |
123.000 |
|
(b) Deferred tax liabilities (Net) |
286.955 |
286.076 |
278.904 |
|
(c) Other long term liabilities |
8.880 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
295.835 |
316.076 |
401.904 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
643.278 |
332.990 |
305.102 |
|
(b) Trade payables |
186.372 |
105.688 |
139.071 |
|
(c) Other current
liabilities |
66.783 |
35.636 |
100.092 |
|
(d) Short-term provisions |
0.037 |
9.293 |
2.111 |
|
Total Current Liabilities (4) |
896.470 |
483.607 |
546.376 |
|
|
|
|
|
|
TOTAL |
3004.272 |
2304.777 |
2190.236 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1119.017 |
1168.054 |
1177.014 |
|
(ii) Intangible Assets |
1.551 |
4.286 |
6.695 |
|
(iii) Capital work-in-progress |
543.295 |
100.010 |
10.709 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.001 |
0.001 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
176.299 |
33.465 |
95.269 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
1840.163 |
1305.816 |
1289.687 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
468.630 |
391.482 |
297.732 |
|
(c) Trade receivables |
599.682 |
517.542 |
498.475 |
|
(d) Cash and cash
equivalents |
13.880 |
27.418 |
14.520 |
|
(e) Short-term loans and
advances |
73.011 |
55.824 |
89.822 |
|
(f) Other current assets |
8.906 |
6.695 |
0.000 |
|
Total Current Assets |
1164.109 |
998.961 |
900.549 |
|
|
|
|
|
|
TOTAL |
3004.272 |
2304.777 |
2190.236 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from
Operations |
4302.866 |
4181.208 |
3725.665 |
|
|
|
Other Income |
11.833 |
15.443 |
20.071 |
|
|
|
TOTAL (A) |
4314.699 |
4196.651 |
3745.736 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
2632.007 |
2577.670 |
2243.379 |
|
|
|
Purchases of stock-in-trade |
7.692 |
48.464 |
45.557 |
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
0.806 |
(5.525) |
(3.599) |
|
|
|
Employee benefit expense |
148.132 |
118.551 |
109.185 |
|
|
|
Other expenses |
979.180 |
934.620 |
837.681 |
|
|
|
TOTAL (B) |
3767.817 |
3673.780 |
3232.203 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
546.882 |
522.871 |
513.533 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
12.667 |
66.796 |
52.354 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
534.215 |
456.075 |
461.179 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
88.962 |
86.513 |
83.908 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
445.253 |
369.562 |
377.271 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
138.380 |
104.488 |
89.765 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
306.873 |
265.074 |
287.506 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
771.700 |
508.500 |
NA |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend Distribution Tax |
-- |
1.900 |
NA |
|
|
BALANCE CARRIED
TO THE B/S |
1078.500 |
771.700 |
NA |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
41.298 |
46.484 |
51.027 |
|
|
TOTAL EARNINGS |
41.298 |
46.484 |
51.027 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
1580.997 |
|
1148.285 |
|
|
|
Stores & Spares |
|
|
11.279 |
|
|
|
Capital Goods |
|
|
7.439 |
|
|
TOTAL IMPORTS |
1580.997 |
1510.907 |
1167.003 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
92.10 |
79.56 |
86.29 |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
5010.000 |
|
|
|
|
|
The above information has been parted by Mr. Purshottam Gupta (Assistant
Manager – Finance and Compliance).
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
7.11 |
6.32 |
7.68 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
10.35 |
8.84 |
10.13 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.09 |
16.76 |
17.31 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.25 |
0.25 |
0.30 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.36 |
0.24 |
0.34 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.30 |
2.07 |
1.65 |
FINANCIAL ANALYSIS
[All figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
33.318 |
33.318 |
33.318 |
|
Reserves & Surplus |
1208.638 |
1471.776 |
1778.649 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
1241.956 |
1505.094 |
1811.967 |
|
|
|
|
|
|
Long-term borrowings |
123.000 |
30.000 |
0.000 |
|
Short term borrowings |
305.102 |
332.990 |
643.278 |
|
Total borrowings |
428.102 |
362.990 |
643.278 |
|
Debt/Equity ratio |
0.345 |
0.241 |
0.355 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from Operations |
3725.665 |
4181.208 |
4302.866 |
|
|
|
12.227 |
2.910 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from Operations |
3725.665 |
4181.208 |
4302.866 |
|
Profit |
287.506 |
265.074 |
306.873 |
|
|
7.72% |
6.34% |
7.13% |
LOCAL AGENCY FURTHER INFORMATION
Details of Current Maturities of Long Term
Debt: Not Available
|
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 |
Yes |
|
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 |
----- |
|
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 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
90225295 |
16/08/2012 * |
721,600,000.00 |
STATE BANK OF
INDIA |
MID CORPORATE
BRANCH, VAPI, GUJARAT - 396195, INDIA |
B56452154 |
|
2 |
90225158 |
30/06/2012 * |
721,600,000.00 |
STATE BANK OF
INDIA |
MID CORPORATE
BRANCH, VAPI, GUJARAT - 396195, INDIA |
B43038009 |
|
3 |
90237453 |
12/12/2005 * |
117,800,000.00 |
STATE BANK OF
INDIA |
INDUSTRIAL
TOWNSHIP BRANCH, GIDC, VAPI, GUJARAT - |
- |
* Date of charge modification
UNSECURED LOANS
|
Particulars |
31.03.2013 (Rs.
in millions) |
31.03.2012 (Rs.
in millions) |
|
Short Term
Borrowings |
|
|
|
Loans Repayable on Demand from Banks |
400.000 |
0.000 |
|
Total
|
400.000 |
0.000 |
CORPORATE INFORMATION
Company incorporated
in the year 1986, is in the business of manufacturing of kraft papers (test
liner and fluting papers) and supply of paper and pulp making machineries and
their parts.
PERFORMANCE REVIEW
During the year,
the company’s inherent capabilities and superior product quality/delivery stood
the company in good stead in a difficult operating environment. Overall, Sales
increased by 2.81% though the profitability was under some pressure due to high
inflation and increasing costs.
MACHINERY SEGMENT
The share of machinery division in total sales and profit has also
progressively declined in past years.
POWER GENERATION
The company has
generated 406.05 lacs units (KWH) of power during the year against 390.88 lacs (KWH)
in the previous year for captive consumption. The company’s main objective is
to operate a modern, cost-effective, energy efficient and environment friendly
production plant. The management is committed towards Conservation of Energy.
FUTURE OUTLOOK
The global
environment and economic activity is likely to continue to be an area of
concern, especially due to depreciation of Indian Rupee against global
currencies and inflationary pressures.
Despite this
scenario, Indian economy stands on a strong footing because of lower export
dependency, favourable demographics and rising middle class income expected to
result into improved living standards.
The Indian
Packaging industry is set to witness good growth, with policy changes and the
growth in Indian retail environment. Increasing urbanization and low
penetration of packaged products offers good opportunities.
The Company has
embarked on an expansion and setting up a new production line (PM4) with better
technology and better product mix. The Machine has already been procured and
the civil work for proposed expansion with additional production line (PM#4)
has commenced at site. On startup of this Paper Machine, RML will be able to
capitalize on its brand image and expand its customer base.
The company has
made Environment and Safety a subject of focus. Special efforts are being made
at all manufacturing facilities to improve the standards of Environment and
Safety.
They are confident that these initiatives will results in a better
performance for the company in the coming years.
FIXED ASSETS:
· Land-Free Hold
· Land –Leasehold
· Building
· Plant and Machinery
· Furniture and Fixtures
· Office Equipment
· Vehicles
WEBSITE DETAILS:
PRESS RELEASES:
MWV COMPLETES ACQUISITION OF INDIA-BASED RUBY MACONS LIMITED
RICHMOND, Va., December 3, 2012—MeadWestvaco Corporation (NYSE: MWV), a
global leader in packaging and packaging solutions announced the completion of
the purchase of Ruby Macons Limited (“Ruby Macons”). The India-based producer
of high-quality corrugated packaging materials becomes a central component of
MWV’s packaging platform in India and a key element of the company’s plans to
grow in emerging markets. The transaction was completed on Nov. 30, 2012 and
financial results for Ruby Macons will now be reported as part of MWV’s
Industrial Packaging segment.
Ruby Macons is the market leader in corrugated packaging materials in
India. The company currently produces over 150,000 tons of containerboard
annually at two mills containing three paper machines in and around the city of
Vapi, Gujarat. These assets, as well as a significant expansion project
underway, will significantly increase capacity and accelerate MWV’s profitable
growth in this fast growing region.
“We are excited to welcome Ruby Macons into the MWV family, marking an
important step forward in our long-term commitment to growth in India,” said
Peter C. Durette, senior vice president and chief strategy officer for MWV, who
oversees the company’s business in India.
Under the terms of the transaction, all Ruby Macons employees will
become MWV India employees and the Ruby Macons management team will remain in
place, including Mr. Ashraf Nathani, managing director, Ruby Macons, who
becomes vice chairman and president of the business.
Mr. Nathani commented, “This deal reflects the commitment of both
organizations to India. We are proud to be joining forces with MWV and
confident that the combination of our strengths will bring value for all our
employees, customers and suppliers.”
The acquisition of Ruby Macons expands MWV’s presence in industrial
packaging in India, which also includes a converting facility in Pune making
rigid, humidity-resistant corrugated packaging for fresh fruits and vegetables,
consumer goods, household appliances and pharmaceuticals. MWV also delivers
innovative packaging solutions for a variety of consumer goods markets in
India, including Healthcare, Beauty & Personal Care, Home & Garden, and
Beverage. It also markets specialty chemicals for asphalt paving and other
specialty chemicals markets.
About Ruby Macons Limited
Ruby Macons Limited is the market leader in corrugated packaging
materials in India, producing greater than 150,000 tons annually. Soundly
managed by the Nathani family since its founding in 1986, Ruby Macons Limited
boasts strong operational leadership, a best-in-class reputation, high brand
awareness among converters and brand owners, and advantaged geographic
locations within India in Vapi and Morai, Gujarat.
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.60.00 |
|
|
1 |
Rs.102.19 |
|
Euro |
1 |
Rs.80.68 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
64 |
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.