MIRA INFORM REPORT
|
Report Date : |
06.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
RASIK PRODUCTS PRIVATE LIMITED |
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Registered
Office : |
141 KM, Delhi-Agra Bye-Pass Road,
Near Alwar Railway Bridge, Krishna Nagar, Mathura – 281 004, Uttar Pradesh
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
09.12.1998 |
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Com. Reg. No.: |
20-024053 |
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Capital
Investment / Paid-up Capital : |
Rs.27.600
millions |
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CIN No.: [Company Identification
No.] |
U22211UP1998PTC024053 |
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TIN No.: |
09827102207 |
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PAN No.: [Permanent Account No.] |
AACCR3348B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Exporter and Importer of Hot Stamping Foil and Gift Wrap
Papers. |
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No. of Employees
: |
65 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 128000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. Profitability and reserves of the company is low. However, trade relation are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealing with some caution. |
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may grow
4.7 % in the current financial year, lower than the official estimate of 4.9 %,
Fitch Rating said. The global rating agency expects the economy to pick up in
the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and January
of 2013/14 which has seen some signs of recovery according to a Care Ratings
report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
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 PARTED BY
|
Name : |
Mr. Lavlesh Khandelwal |
|
Designation : |
Accounts Manager |
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Contact No.: |
91-9756706073 |
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Date : |
05.05.2014 |
LOCATIONS
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Registered Office/ Factory : |
141 KM, Delhi-Agra Bye-Pass Road,
Near Alwar Railway Bridge, Krishna Nagar, Mathura – 281 004, Uttar
Pradesh, India |
|
Tel. No.: |
91-565-3190666/ 2423365 |
|
Mobile No.: |
91-9927022764 (Mr. Rasik Khandelwal) 91-9756706073 (Mr. Lavlesh Khandelwal) |
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Fax No.: |
91-565-2425434 |
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E-Mail : |
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Website : |
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Area : |
2500 sq. ft. |
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Location : |
Owned |
DIRECTORS
AS ON 16.09.2013
|
Name : |
Mr. Girdhari Lal Khandelwal |
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Designation : |
Director |
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Address : |
99, Govind Dev Temple,
Vrindavan, Mathura, Uttar Pradesh, India |
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Date of Birth/Age : |
12.08.1957 |
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Date of Appointment : |
09.12.1998 |
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DIN No.: |
00277267 |
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Other Directorship:
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Name : |
Mrs. Shashi Rani |
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Designation : |
Director |
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Address : |
97, Govind Ghera, Town
and Post Vrindavan Thana, Vrindavan, Mathura, Uttar Pradesh, India |
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Date of Birth/Age : |
28.07.1960 |
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Date of Appointment : |
09.12.1998 |
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DIN No.: |
01878258 |
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Other Directorship:
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Name : |
Mr. Rasik Khandelwal |
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Designation : |
Director |
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Address : |
H.No.97, Govind Ghera,
Town and Post, Vrindavan Thana, Mathura, Uttar Pradesh, India |
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Date of Birth/Age : |
01.05.1986 |
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Date of Appointment : |
14.05.2004 |
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DIN No.: |
01932885 |
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KEY EXECUTIVES
|
Name : |
Mr. Lavlesh Khandelwal |
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Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 16.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Girdhari
Lal Khandelwal |
|
466700 |
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Priyanka
Khandelwal |
|
77000 |
|
Rasik
khandelwal |
|
97000 |
|
Shashi
Rani |
|
113100 |
|
Rasik
Gopal Enterprises Trust, India |
|
638700 |
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Shashi
Family Trust, India |
|
396500 |
|
Rasik
Gopal Private Trust, India |
|
570500 |
|
Girdhari
Family Trust, India |
|
383800 |
|
Girdhari
Rasik Khandelwal and Sons HUF, India |
|
16700 |
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Total
|
|
2760000 |
AS ON 16.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
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|
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Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Hot Stamping Foil and Gift Wrap
Papers. |
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Products : |
·
Hot Stamping Foils
and Holographic Films ·
Hologram Base
Materials ·
Transfer
Metallized - Holographic Paper and Boards ·
Custom Hologram
Film ·
Gift Wraps ·
Sequins ·
Flexible Packaging |
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Exports : |
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Products : |
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Countries : |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
Germany |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
·
ABF Freight International Private Limited ·
DHL Express (I) Private Limited ·
Bong Sverige AB ·
Mittal Enterprises ·
Bharat Resins Limited ·
Jindal Poly Films Limited ·
KCTC Global Logistics
Private Limited ·
Mona Equipments · Vivek Agencies |
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Customers : |
End Users and OEM’s ·
Pack Arts ·
Divya Impex ·
Lord Krishna Trading Co. ·
Kapoor Print Pack Private
Limited ·
Usha Plast ·
Ajanta Limited ·
Anamika Creation ·
Amolraj Printers |
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No. of Employees : |
65 (Approximately) |
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Bankers : |
·
Axis Bank Limited, Anupam Plaza II, Sanjay Place, Agra – 282 002,
Uttar Pradesh, India
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Facilities : |
Cash Credit: Rs.70.000 millions (From Axis Bank Limited, Mathura Branch)
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Banking
Relations : |
-- |
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Financial Institution : |
Electronica
Finance Limited, 128/A, Plot No.3, Kailashchandra Apartments, Paud Road, Kothrud,
Pune – 411 038, Maharashtra, India |
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Auditors : |
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Name : |
Ashwani Khandelwal and Company Chartered Accountants |
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Address : |
106-107, First Floor, Krishna Plaza, Krishna Nagar, Mathura – 281 004,
Uttar Pradesh, India |
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Tel. No.: |
91-565-2420273 |
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Mobile No.: |
91-9412279402 |
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E-Mail : |
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PAN No.: |
ABVPK6996P |
CAPITAL STRUCTURE
AS ON 16.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 millions |
|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2760000 |
Equity Shares |
Rs.10/- each
|
Rs.27.600
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
Note:
Financial Details File Attached.
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
320.000 |
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|
The above information has been parted by Mr. Lavlesh Khandelwal
(Accounts Manager).
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 |
17.600 |
17.600 |
27.600 |
|
Reserves & Surplus |
3.251 |
3.304 |
4.419 |
|
Share
Application money pending allotment |
0.000 |
10.000 |
0.000 |
|
Net worth |
20.851 |
30.904 |
32.019 |
|
|
|
|
|
|
Long-term borrowings |
22.827 |
14.654 |
33.244 |
|
Short term borrowings |
41.794 |
61.970 |
63.608 |
|
Total borrowings |
64.621 |
76.624 |
96.852 |
|
Debt/Equity ratio |
3.099 |
2.479 |
3.025 |
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) |
|
Income from Operations |
101.398 |
221.088 |
190.472 |
|
|
|
118.040 |
(13.848) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Income from Operations |
101.398 |
221.088 |
190.472 |
|
Profit |
0.762 |
0.053 |
1.115 |
|
|
0.75% |
0.02% |
0.59% |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
No |
|
17) Major suppliers |
Yes |
|
18) Major customers |
Yes |
|
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 |
No |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10483787 |
28/02/2014 |
1,759,500.00 |
ELECTRONICA FINANCE
LIMITED |
128/A, PLOT NO.3,
KAILASHCHANDRA APARTMENTS, PAUD ROAD, KOTHRUD, PUNE, MAHARASHTRA - 411038,
INDIA |
C00029462 |
|
2 |
10416484 |
23/03/2013 |
1,540,000.00 |
ELECTRONICA FINANCE
LIMITED |
128/A, PLOT NO.3,
KAILASHCHANDRA APARTMENTS, PAUD ROAD, KOTHRUD, PUNE, MAHARASHTRA - 411038,
INDIA |
B71909311 |
|
3 |
10421757 |
19/03/2013 |
70,000,000.00 |
AXIS BANK LIMITED |
ANUPAM PLAZA II, SANJAY PLACE,
AGRA, UTTAR PRADESH - 282002, INDIA |
B73756579 |
|
4 |
10421758 |
18/03/2013 |
70,000,000.00 |
AXIS BANK LIMITED |
ANUPAM PLAZA II, SANJAY
PLACE, AGRA, UTTAR PRADESH - 282002, INDIA |
B73684169 |
|
Unsecured Loans |
31.03.2013 (Rs. In Millions) |
31.03.2012 (Rs. In Millions) |
|
LONG TERM BORROWINGS |
|
|
|
Loans from Related Persons / Parties |
|
|
|
Combined Machine
Tools |
2.054 |
2.053 |
|
Girdhari Rasik
Khandelwal and Sons HUF |
1.894 |
1.894 |
|
Seth Enterprises |
0.412 |
0.412 |
|
Suresh Chand
Kaushik (HUF) |
1.027 |
1.026 |
|
Suresh Khanna |
0.500 |
0.500 |
|
Mittal Cements
Private Limited |
0.277 |
0.000 |
|
Shashi Khandelwal
|
0.548 |
0.000 |
|
Upendra Kumar
Garg (HUF) |
1.027 |
1.026 |
|
Seema Agrawal |
0.000 |
0.210 |
|
SHORT TERM BORROWINGS |
|
|
|
From Others |
|
|
|
Mittal Cements
Private Limited |
0.000 |
0.250 |
|
Total |
7.739 |
7.371 |
PERFORMANCE:
The Company is running a business
of manufacturing and trading of poly film at Mathura. During the year, the
Company has earned a profit of Rs.1.115 millions and in the future, Company
will do business satisfactorily.
FIXED ASSETS:
·
Land
·
Furniture and Fitting
·
Building
·
Air Conditioner
·
Cell Phone
·
EPBX Camera
·
Fire Ext.
·
Plant and Machinery
·
Refrigerator
·
Television
·
Water Cooler
·
Car/ Van
·
Motor Cycle
·
Computer
·
Machine and Plant (ESD)
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.60.05 |
|
UK Pound |
1 |
Rs.101.32 |
|
Euro |
1 |
Rs.83.34 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
30 |
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.