MIRA INFORM REPORT

 

IDENTIFICATION DETAILS

 

Name :

RANDACK FASTENERS INDIA PRIVATE LIMITED

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

PNER09996A / PNER09974G

 

 

Legal Form :

Private Limited Liability Company

 

 

No. of Employees :

70 (Approximately)

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Specialized Fasteners

 

 

Exports :

 

Products :

Finish Goods

Countries :

·         Brazil

·         US

·         Germany

 

 

Imports :

 

Products :

Raw Material

Countries :

Germany

 

 

Terms :

 

Selling :

Credit

 

 

Purchasing :

Credit

 

 

GENERAL INFORMATION

 

Suppliers :

Sunflag Iron and Steel Company Limited

 

 

Customers :

Randack Fastners Americas

 

 

No. of Employees :

70 (Approximately)

 

 

Bankers :

·         Syndicate Bank, Camp Branch, Pune – 411001, Maharashtra, India

·         HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel West, Mumbai - 400013, Maharashtra, India

 

 

Facilities :

SECURED LOANS

31.03.2013

Rs. In Millions

31.03.2012

Rs. In Millions

Long Term Borrowing

 

 

Term Loan from Syndicate Bank Limited

2.226

8.304

Less: Current Maturities disclosed under the head ‘Other Current Liabilities’

(2.226)

(6.000)

Short-term Borrowing

 

 

Working Capital facility from Syndicate Bank Limited

33.891

42.659

Total

33.891

44.963

 

 

UNSECURED LOANS

31.03.2013

Rs. In Millions

31.03.2012

Rs. In Millions

Long Term Borrowing

 

 

External Commercial Borrowings from Klaus union Gmbh and Company KG, Germany.

12.844

11.869

Loss/ (Gain) due to foreign currency exchange fluctuation

0.473

0.974

Less: Current Maturities disclosed under the head ‘Other Current Liabilities’

(3.364)

(3.245)

Overdue interest accrued and due

0.490

0.381

Loss/ (Gain) due to foreign currency exchange fluctuation

0.016

0.016

External Commercial Borrowings from Rs Randack Spezialschrauben Gmbh, Germany

12.844

11.869

Loss/ (Gain) due to foreign currency exchange fluctuation

0.473

0.975

Less: Current Maturities disclosed under the head ‘Other Current Liabilities’

(3.364)

(2.704)

Interest accrued and due

0.482

0.375

Loss/ (Gain) due to foreign currency exchange fluctuation

0.016

0.016

Total

20.910

20.526

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

U.V. Bodas and Company

Chartered Accountants

Address :

Flat No. 2, Yashodhan Complex, 1561, Sadashiv Peth, Pune – 411030, Maharashtra, India

Tel. No.:

91-20-24333628

Fax No.:

91-9823008217

E-Mail :

uvbodas@gmail.com

PAN No.:

ABGPB7149E

 

 

MAJOR SHAREHOLDERS

 

As on 28.09.2013

 

Names of Shareholders

 

No. of Shares

Randack Automotive GmbH (Germany)

 

1500000

Klausunion Engineering Private Limited (India)

 

1675000

Rs Randack Spezialschrauben GmbH (Germany)

 

175000

Total

 

3350000

 

 

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

33.500

33.500

30.000

(b) Reserves & Surplus

21.924

20.766

13.924

(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)

55.424

54.266

43.924

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

20.910

22.830

31.685

(b) Deferred tax liabilities (Net)

1.086

1.446

1.410

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

0.097

0.085

0.063

Total Non-current Liabilities (3)

22.093

24.361

33.158

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

33.891

42.659

37.095

(b) Trade payables

37.206

18.796

20.918

(c) Other current liabilities

11.941

13.647

23.937

(d) Short-term provisions

0.098

0.085

0.870

Total Current Liabilities (4)

83.136

75.187

82.820

 

 

 

 

TOTAL

160.653

153.814

159.902

 

 

 

 

II.      ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

38.545

44.684

41.370

(ii) Intangible Assets

1.282

1.490

1.730

(iii) Capital work-in-progress

1.065

1.012

0.498

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.000

0.000

0.000

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

0.592

0.375

0.225

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

41.484

47.561

43.823

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

38.131

34.813

28.020

(c) Trade receivables

63.062

52.910

70.417

(d) Cash and cash equivalents

0.827

0.752

0.594

(e) Short-term loans and advances

17.147

17.770

17.048

(f) Other current assets

0.002

0.008

0.000

Total Current Assets

119.169

106.253

116.079

 

 

 

 

TOTAL

160.653

153.814

159.902

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2013

31.03.2012

31.03.2011

 

SALES

 

 

 

 

 

Income

191.100

209.083

153.494

 

 

Other Income

 

 

 

 

 

TOTAL                        

191.100

209.083

153.494

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Office Expenses

 

 

 

 

Administrative Expenses

181.326

195.958

139.369

 

 

Advertising Expenses

 

 

 

 

 

TOTAL                        

181.326

195.958

139.369

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION

9.774

13.125

14.125

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

8.074

8.134

8.483

 

 

 

 

 

 

PROFIT BEFORE TAX

1.700

4.991

5.642

 

 

 

 

 

Less

TAX                             

0.542

1.649

1.795

 

 

 

 

 

 

PROFIT AFTER TAX

1.158

3.342

3.847

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

F.O.B. value of exports

NA

35.391

5.921

 

 

Freight Charges

NA

0.632

0.018

 

TOTAL EARNINGS

NA

36.023

5.939

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

NA

22.706

14.860

 

 

Capital Goods

NA

4.286

0.000

 

TOTAL IMPORTS

NA

26.992

14.86

 

 

 

 

 

 

Earnings Per Share (Rs.)

0.35

0.99

NA

Expected Sales (2013-14) : Rs.370.000 Millions

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (30)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

RBI DEFAILTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

 

LOCATIONS

 

Registered Office :

Gate No. 1197, Near Ghotawade Phata, Pirangut, Taluka Mulshi, Pune – 412108, Maharashtra, India

Tel. No.:

91-20-67909000 / 22929397

Fax No.:

91-20-66549344 / 45 / 22929377

E-Mail :

nvgopalcs@gmail.com

batra@wamser-batra.in

s.bhide@randack-india.com

v.kudalkar@randack-india.com

p.kulkarni@randack-india.com

Website :

www.randack-india.com

 

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