MIRA
INFORM REPORT
|
Report No. : |
306872 |
|
Report Date : |
13.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
TIKU RAM GUM AND CHEMICALS PRIVATE LIMITED |
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|
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Registered
Office : |
Dhani Ramjas, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
15.06.2006 |
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Com. Reg. No.: |
05-036199 |
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Capital Investment
/ Paid-up Capital : |
Rs. 47.907 Millions |
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|
|
|
CIN No.: [Company Identification
No.] |
U24305HR2006PTC036199 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
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PAN No.: [Permanent Account No.] |
AACCT4668G |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and exporter of high quality guar gum which is mainly
used in industries like food, pharmaceutical and cosmetic etc. |
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|
|
|
No. of Employees
: |
Not Available |
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 |
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|
Payment Behavior : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. The rating is constrained on account of company’s moderate financial
risk profile marked by low profitability margins and leverage capital
structure of the company. However, trade relations are fair. Business is active. Payments are
reported to be 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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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 |
CRISIL |
|
Rating |
Long Term Bank Facilities (B+) |
|
Rating Explanation |
Risk prone credit quality and carries very high credit risk. |
|
Date |
Jan 24, 2014 |
|
|
|
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Bank Facilities (A4) |
|
Rating Explanation |
Minimal degree of safety very high credit risk. |
|
Date |
Jan 24, 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
31-03-2014.
LOCATIONS
|
Registered Office : |
Dhani Ramjas, Hisar Road, Siwani Mandi-127046, Haryana, India |
|
Tel. No.: |
91-1255-277377 |
|
Fax No.: |
91-1255-277108 |
|
E-Mail : |
DIRECTORS
As on: 30.09.2014
|
Name : |
Mr. Pawan Kumar Aggarwal |
|
Designation : |
Director |
|
Address : |
Ward 2, Siwani Mandi, Siwani Mandi, 127046, Haryana, India |
|
Date of Birth/Age : |
01.01.1957 |
|
Date of Appointment : |
15.06.2006 |
|
PAN: |
AFIPA3291E |
|
DIN No.: |
00032976 |
|
|
|
|
Name : |
Mr. Vipin Kumar Aggarwal |
|
Designation : |
Director |
|
Address : |
Ward 2, Siwani Mandi, Siwani Mandi, 127046, Haryana, India |
|
Date of Birth/Age : |
20.06.1985 |
|
Date of Appointment : |
15.06.2006 |
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PAN: |
AHEPA8985B |
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DIN No.: |
00048788 |
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|
|
|
Name : |
Mr. Sunita Devi Aggarwal |
|
Designation : |
Director |
|
Address : |
House No. 120, Ward-2, Siwani, Siwani Mandi, Bhiwani-127046, Haryana, India |
|
Date of Birth/Age : |
01.03.1963 |
|
Date of Appointment : |
15.06.2006 |
|
DIN No.: |
01315487 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2014
NOTE: SHAREHOLDER FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2014
|
Category |
Percentage |
|
Bodies corporate |
36.57 |
|
Directors or relatives of Directors |
63.43 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and exporter of high quality guar gum which is mainly
used in industries like food, pharmaceutical and cosmetic etc. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Divulged |
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Terms : |
Not Available |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
State Bank of India, Jindal Stainless Limited. Complex, O.P. Jindal Marg, Hisar-125001, Haryana, India |
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Facilities : |
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Auditors : |
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Name : |
Ashok Kumar Goyal and Company Chartered Accountants |
|
Address : |
SCF-104, Green Square Market, Hissar, Pin-125001, Haryana, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AABFA7551P |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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|
Enterprises which
are owned, or have significant influence of or are partners with Key management
personnel and their relatives: |
Tiku Ram and Sons |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 60.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,790,700 |
Equity Shares |
Rs.10/- each |
Rs. 47.907
Millions |
|
|
|
|
|
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 |
47.907 |
47.907 |
46.240 |
|
(b) Reserves & Surplus |
261.519 |
231.047 |
202.302 |
|
(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) |
309.426 |
278.954 |
248.542 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
77.559 |
49.237 |
116.176 |
|
(b) Deferred tax liabilities (Net) |
4.174 |
0.000 |
0.031 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.744 |
0.629 |
0.700 |
|
Total Non-current
Liabilities (3) |
82.477 |
49.866 |
116.907 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
595.721 |
707.018 |
297.992 |
|
(b)
Trade payables |
5.780 |
12.562 |
46.801 |
|
(c)
Other current liabilities |
18.712 |
11.691 |
8.183 |
|
(d) Short-term
provisions |
10.612 |
12.150 |
78.400 |
|
Total Current
Liabilities (4) |
630.825 |
743.421 |
431.376 |
|
|
|
|
|
|
TOTAL |
1022.728 |
1072.241 |
796.825 |
|
|
|
|
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|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
119.587 |
11.500 |
11.794 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
90.550 |
23.477 |
|
(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 |
0.091 |
0.000 |
|
(d) Long-term Loan and Advances |
2.089 |
2.062 |
0.256 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
121.676 |
104.203 |
35.527 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
551.068 |
321.896 |
361.342 |
|
(c)
Trade receivables |
313.537 |
579.232 |
353.635 |
|
(d) Cash
and cash equivalents |
2.607 |
6.353 |
2.798 |
|
(e)
Short-term loans and advances |
33.840 |
60.557 |
43.523 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
901.052 |
968.038 |
761.298 |
|
|
|
|
|
|
TOTAL |
1022.728 |
1072.241 |
796.825 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
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|
SALES |
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|
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TOTAL |
NA |
NA |
NA |
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|
Less |
EXPENSES |
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|
|
|
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TOTAL
|
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
NA |
NA |
227.206 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION |
NA |
NA |
1.407 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
45.582 |
38.261 |
225.799 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
15.111 |
12.850 |
78.416 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
30.471 |
25.411 |
147.383 |
|
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|
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|
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|
|
Earnings/ (Loss)
Per Share (Rs.) |
6.36 |
5.30 |
31.87 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.46 |
3.90 |
29.20 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15 |
0.14 |
0.91 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.18 |
2.71 |
1.67 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.43 |
1.30 |
1.76 |
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 |
46.240 |
47.907 |
47.907 |
|
Reserves & Surplus |
202.302 |
231.047 |
261.519 |
|
Net worth |
248.542 |
278.954 |
309.426 |
|
|
|
|
|
|
long-term borrowings |
116.176 |
49.237 |
77.559 |
|
Short term borrowings |
297.992 |
707.018 |
595.721 |
|
Total borrowings |
414.168 |
756.255 |
673.280 |
|
Debt/Equity ratio |
1.666 |
2.711 |
2.176 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
No |
|
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 |
No |
|
20] |
Export / Import details (if
applicable) |
No |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOAN
|
Unsecured Loan |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from related parties |
50.589 |
11.919 |
|
Total |
50.589 |
11.919 |
INDEX OF CHRGES:
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10014673 |
06/12/2013 * |
965,000,000.00 |
SATE BANK OF
INDIA |
JINDAL STAINLESS
LIMITED COMPLEX, O.P. JINDAL MARG, |
B91304774 |
*DATE OF CHARGE MODIFICATION
FIXED ASSETS:
· Land
· Buildings
· Plant and equipment
· Factory equipments
· Furniture and fixtures
· Vehicles
· Motor vehicles
· Office equipment
· Computer equipments
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 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.62.43 |
|
|
1 |
Rs.95.02 |
|
Euro |
1 |
Rs.70.63 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
MTN |
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 |
|
--PROFITABILITY |
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 |
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 |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.