MIRA INFORM REPORT

Report No. :	354155
Report Date :	17.12.2015

IDENTIFICATION DETAILS

Name :	RATNACHINTAMANI METALLOYS PRIVATE LIMITED
Registered Office :	Survey No. 32/P/4/P/2, Village Palgam, Taluka Umbregao, District Valsad – 396170, Gujarat
Tel. No.:	91-260-2995291/2561644
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	08.07.2008
Com. Reg. No.:	04- 066338
Capital Investment / Paid-up Capital :	Rs. 27.500 Million
CIN No.: [Company Identification No.]	U13200GJ2008PTC066338
IEC No.:	0309059861
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAECR0497F
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturers of Copper and Copper Alloys In Shape of Pipes, Tubes, Coils, Bus bars, Round Bar, Hex, Square, Sections Profile etc. (Registered Activity)
No. of Employees :	Not Divulged

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
Comments :	Subject was incorporated in the year 2008 having moderate track. Management has failed to file its financials for FY15 with Registrar of Companies. For FY 14, the company has achieved decent revenue base. It has been successful in wiping off outbalance of accumulated losses of the previous year. However, rating is constrained on account of low reserves, high debt levels and deterioration in cash reserves. Trade relations are fair. Business is active. Payment are slow but correct. The company can be considered for business dealings 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, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	Long Term Bank Facilities (BB-)
Rating Explanation	Inadequate credit quality and high credit risk
Date	December 30, 2014
Rating Agency Name	CARE
Rating	Short term Bank Facilities (A4)
Rating Explanation	Minimal degree of safety and very high credit risk.
Date	December 30, 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) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2015.

INFORMATION DENIED BY

Name :	Mr. Pradip Chaturvedi
Designation :	General Marketing Manager
Contact No.:	91-9974312059
Date :	14.12.2015

LOCATIONS

Registered Office/ Factory: :	Survey No. 32/P/4/P/2, Village Palgam, Taluka Umbregao, District Valsad – 396170, Gujarat, India
Tel. No.:	91-260-2995291/2561644/ 23852133
Fax No.:	91-260-2561543
E-Mail :	info@rcmcopper.com mktg@rcmcopper.com works@rcmcopper.com
Website :	http://www.rcmcopper.com
Corporate Office :	29, Goragandhi Building, 2nd Floor, 78-80, C.P. Tank Road, Mumbai – 400004, Maharashtra, India
Tel. No.:	91-22-23852133/ 66109641/ 66109649
Fax No.:	91-22-23852134

DIRECTORS

As on: 31.03.2015

Name :

Ms. Seema Amit Shah

Designation :

Director

Address :

A / 7 - B Gwalia Tank Building, 2nd Floor, 46 A August Kranti Marg, Mumbai, 400036, Maharashtra, India

Date of Birth/Age :

17.04.1985

Date of Appointment :

08.07.2008

DIN No.:

02210641

Name :

Mr. Brij Kumar Mahendra Shah

Designation :

Director

Address :

Manu Bhavan, 2nd Floor, Room No.12, 28 Kika Street, Gulalwadi, Mumbai, 400004, Maharashtra, India

Date of Birth/Age :

03.09.1988

Date of Appointment :

01.11.2012

DIN No.:

02238743

Name :

Mr. Mahendra Harichand Shah

Designation :

Managing Director

Address :

Room No. 12, 2nd Floor, Manu Bhavan,, 28, Kikaji Street, Gulalwadi,, Mumbai, 400002, Maharashtra, India

Date of Birth/Age :

20.06.1963

Date of Appointment :

01.11.2012

DIN No.:

00380802

Other Directorship:

S. No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U25200MH1988PTC047147	ARDH METALS AND ALLOYS PRIVATE LIMITED	Managing director	07/02/1994	07/02/1994	-	Active	NO
2	U27200MH1955GAP009594	BOMBAY METAL EXCHANGE LIMITED	Director	05/03/1997	05/03/1997	-	Active	NO
3	U51420MH2008PTC180795	BLANKS & COMPONENTS (INDIA) PRIVATE LIMITED	Director	03/04/2008	03/04/2008	-	Active	YES
4	U13200GJ2008PTC066338	RATNACHINTAMANI METALLOYS PRIVATE LIMITED	Managing director	01/11/2012	01/11/2012	-	Active	NO

Name :

Mr. Amit Mafatlal Shah

Designation :

Director

Address :

A/7/B, Gowalia Tank Building, 2nd Floor, 46-A, August Kranti Marg, Mumbai, 400036, Maharashtra, India

Date of Birth/Age :

14.07.1982

Date of Appointment :

08.07.2008

DIN No.:

01970566

Other Directorship:

S. No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U27201GJ2000PTC038888	SHITAL TUBES PRIVATE LIMITED	Director	06/11/2000	06/11/2000	-	Active	YES
2	U13200GJ2008PTC066338	RATNACHINTAMANI METALLOYS PRIVATE LIMITED	Director	01/11/2012	08/07/2008	-	Active	NO
3	U45200MH2005PTC151199	SAFEWAY PROJECTS PRIVATE LIMITED	Director	03/06/2009	03/06/2009	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Pradip Chaturvedi
Designation :	General Marketing Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 30.09.2014

Names of Shareholders	No. of Shares
Amit Mafatlal Shah	112750
Dinesh Harichand Shah	13750
Seems Amit Shah	11000
Mrinal D. Shah	68750
Brij Shah	68750
Total	275000

Equity Share Break up (Percentage of Total Equity)

As on: 30.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturers of Copper and Copper Alloys In Shape of Pipes, Tubes, Coils, Bus bars, Round Bar, Hex, Square, Sections Profile etc. (Registered Activity)
Products :	Shape of Pipes Tubes Coils Bus bars Round Bar Hex Square Sections Profile
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :	Not Divulged
Imports :	Not Divulged
Terms :	Not Divulged

GENERAL INFORMATION

Suppliers :

• Ardh Metal Alloys Private Limited
• Aircomp Enterprises
• Arahant Road lines
• Arahant Transport
• Anpurnna Provision and General Stores
• Baroda Extrusion Limited
• Bharat Electric Corporation
• Bombay tools Centre
• Deepak Metals Works
• Dinesh Enterprises

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

Customers :

• ABP Induction System Private Limited
• A.K. Industries
• Amitron Tubeless Private Limited
• Amphenol Interconnect India Private limited
• Beem Industries
• Atma Tubes
• Ardh Metal and Alloys Private Limited
• Braco Electricals Private Limited
• Classic Tube Industries
• Kamlesh Industries

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

No. of Employees :

Not Divulged

Bankers :

• Bank of Baroda, Umbergaon Town Branch, District Bulsar, Umbergaon, Valsad - 396170, Gujarat, India

Bank Name	Not Divulged
Branch	Not Divulged
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Term loan from Bank of Baroda	1.093	13.385
Short-term borrowings
Cash credit from Bank	80.880	74.732
Term loan Installation of Next 1 Year	13.111	13.111
Total	95.084	101.228

Auditors :
Name :	M I shah and Company Chartered accountants
Address :	224-225, Centre Point, Near Mahavir Nagar, N.H. No. 8, Vapi- 396191, Gujarat, India
Tel. No.:	91-260-2420702
Fax No.:	91-260-2428702
PAN No.:	AKNPS3761M
E-Mail :	mishahca@gmail.com
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	Ardh Metal and Alloys Private Limited Anant Impex Rajshree Overseas

CAPITAL STRUCTURE

As on: 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
300000	Equity Shares	Rs.100/- each	Rs.30.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
275000	Equity Shares	Rs.100/- each	Rs.27.500 Million

FINANCIAL DATA

[all figures are in Rupees Million]

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	27.500	27.500	27.500
(b) Reserves & Surplus	3.604	(2.372)	(1.068)
(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)	31.104	25.128	26.432
(3) Non-Current Liabilities
(a) long-term borrowings	68.899	61.080	127.497
(b) Deferred tax liabilities (Net)	0.754	0.167	0.000
(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)	69.653	61.247	127.497
(4) Current Liabilities
(a) Short term borrowings	93.991	87.843	0.000
(b) Trade payables	78.390	76.696	(14.980)
(c) Other current liabilities	1.469	7.973	4.511
(d) Short-term provisions	1.788	5.741	3.018
Total Current Liabilities (4)	175.638	178.253	(7.451)
TOTAL	276.395	264.628	146.478
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	64.875	73.414	72.732
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	7.147
(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	2.899
(d) Long-term Loan and Advances	14.364	6.591	2.859
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	79.239	80.005	85.637
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	65.514	57.147	15.456
(c) Trade receivables	103.918	99.657	24.556
(d) Cash and cash equivalents	2.126	6.385	5.500
(e) Short-term loans and advances	25.598	21.434	11.432
(f) Other current assets	0.000	0.000	3.897
Total Current Assets	197.156	184.623	60.841
TOTAL	276.395	264.628	146.478

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	403.033	321.862	321.441
		Other Income	0.943	0.692	0.822
		TOTAL	403.976	322.554	322.263
Less	EXPENSES		391.103	308.372	304.886
	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		12.873	14.182	17.377
Less	DEPRECIATION/ AMORTISATION		8.905	9.701	10.255
	PROFIT/ (LOSS) BEFORE TAX		3.968	4.481	7.122
Less	TAX		1.708	5.785	(2.121)
	PROFIT/ (LOSS) AFTER TAX		2.260	(1.304)	9.243
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(2.372)	(1.068)	(10.311)
Add	Earlier year excess proposed dividend and dividend distribution tax		3.716	0.000	0.000
	BALANCE CARRIED TO THE B/S		3.604	(2.372)	(1.068)
	IMPORTS
		Raw Materials	97.928	147.591	89.039
	TOTAL IMPORTS		97.928	147.591	89.039
	Earnings Per Share (Rs.)		8.22	(4.74)	33.61

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	NA	NA
Net Cash flows from operating activities	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	0.56	(0.41)	2.88
Return on Total Assets (PBT/Total Assets}	(%)	1.44	1.69	5.22
Return on Investment (ROI) (PBT/Networth)		0.13	0.18	0.27
Debt Equity Ratio (Total Debt /Networth)		5.24	5.93	4.82
Current Ratio (Current Asset/Current Liability)		1.12	1.04	(8.17)

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	27.500	27.500	27.500
Reserves & Surplus	(1.068)	(2.372)	3.604
Net worth	26.432	25.128	31.104
long-term borrowings	127.497	61.080	68.899
Short term borrowings	0.000	87.843	93.991
Total borrowings	127.497	148.923	162.890
Debt/Equity ratio	4.824	5.927	5.237

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	321.441	321.862	403.033
		0.131	25.219

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	321.441	321.862	403.033
Profit (Loss)	9.243	(1.304)	2.260
	2.88%	(0.41%)	0.56%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	No
5	Buyer visit details	--
6	Contact numbers	Yes
7	Name of the person contacted	Yes
8	Designation of contact person	Yes
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	No
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	No
16	No. of employees	No
17	Details of sister concerns	Yes
18	Major suppliers	Yes
19	Major customers	Yes
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	No
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	Yes
32	Litigations that the firm/promoter involved in	---
33	Market information	---
34	Payments terms	No
35	Negative Reporting by Auditors in the Annual Report	No

ADDRESS CHANGE:

Note: The Registered Office of the company has been shifted from “29, Goragandhi Building, 2nd Floor, 78-80, C.P. Tank Road, Mumbai – 400004, Maharashtra, India” to the present address.

UNSECURED LOAN

Unsecured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
loan from relatives parties	67.806	47.695
Total	67.806	47.695

INDEX OF CAHREGS:

S. NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10186092	15/10/2012 *	123,570,000.00	BANK OF BARODA	UMBERGAON TOWN BRANCH, DISTRICT BULSAR, UMBERGAON - 396170, GUJARAT, INDIA	B71911473

* Date of charge modification

FIXED ASSETS

• Building
• Land
• Godown
• Plant and Machinery
• Computer and peripherals
• Office Equipments
• Furniture and Fixture
• Motor Cycles
• Air Condition
• Vehicle
• Television
• Telephone
• Computer Software

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

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 records 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.66.85
UK Pound	1	Rs.100.58
Euro	1	Rs.73.16

INFORMATION DETAILS

Information Gathered by :	KMN
Analysis Done by :	AMT
Report Prepared by :	MTN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILITY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	2
--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	NO
--AFFILIATION	YES/NO	YES
--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	--

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.