MIRA INFORM REPORT
|
Report No. : |
307103 |
|
|
Report Date : |
27.02.2015 |
|
IDENTIFICATION DETAILS
|
Name : |
RAJKAMAL INDUSTRIAL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
401, Dev Arc Corporate, Above Croma, Opposite Big Bazar, Iscon Cross
Road, S.G. Highway, Ahmedabad-380015, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
26.06.2012 |
|
|
|
|
Com. Reg. No.: |
04-070829 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.10.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24100GJ2012PTC070829 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business
: |
Trader of petroleum oils, Bitumen, Chemicals, Polymers, Petroleum
Jelly, Petroleum Wax, Vegetable wax. |
|
|
|
|
No. of Employees
: |
10 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 30000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track. As per Registrar of companies the date of balance sheet i.e.
financials filed is shown as 31st March, 2014 but the documents
related to the financials for the year 2014 is not available from any source. As per available financial record of 2013, Profitability of the
company seems to be low and it has huge external borrowings. However, Business is active as per status shown in the registrar of
companies. Payments are reported to be unknown. The company can be considered for business dealings with 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 |
ICRA |
|
Rating |
Long term rating “B+ Suspended” |
|
Rating Explanation |
Risk prone credit quality and carries very high credit risk. |
|
Date |
October 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term rating “A4 Suspended” |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
October 2014 |
Note: Reason of Suspension.
Inability to carry out rating surveillance in the absence of required
information from the company.
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.
INFORMATION PARTED BY
|
Name : |
Mr. Meet Mehta |
|
Designation : |
Director |
|
Contact No.: |
91-09825037471 |
|
Date : |
25.02.2015 |
LOCATIONS
|
Registered Office : |
401,Dev Arc corporate, Behind Dev Arc Mall, Iscon cross Road, S. G.
Highway, satellite, Ahmedabad – 380015 |
|
Tel. No.: |
91-79-26920776/1076/0976 |
|
Fax No.: |
91-79-26920776/1076/0976 |
|
Mobile No.: |
91-9825037471/098079003579 (Mr. Meet Bhadresh Mehta) |
|
E-Mail : |
|
|
Website : |
|
|
|
|
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Bhadresh C. Mehta |
|
Designation : |
Director |
|
Address : |
11, Ashirvad Part-4, Opposite Krishna Bungalows, Prahaladnagar Garden,
Vejalpur – 380051, Ahmedabad, Gujarat. |
|
Date of Birth/Age : |
05.10.1954 |
|
Date of Appointment : |
20.06.2012 |
|
DIN No.: |
05158706 |
|
|
|
|
Name : |
Mr. Meet B. Mehta |
|
Designation : |
Director |
|
Address : |
11, Ashirvad Part-4, Opposite Krishna Bungalows, Prahaladnagar Garden,
Vejalpur – 380051, Ahmedabad, Gujarat. |
|
Date of Birth/Age : |
11.09.1988 |
|
Date of Appointment : |
20.06.2012 |
|
DIN No.: |
05197971 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Bhadresh C. Mehta |
|
7,50,000 |
|
Sunitaben B. Mehta |
|
60,000 |
|
Vijaybhai A. Shah |
|
10,000 |
|
Meet B. Mehta |
|
1,50,000 |
|
Khushbu J. Shah |
|
10,000 |
|
Jitendra K. Shah |
|
10,000 |
|
Hemangini S. Shah |
|
10,000 |
|
|
|
|
|
Total |
|
10,00,000 |
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 : |
Trader of Petroleum oils, Bitumen, Chemicals, Polymers, Petroleum
Jelly, Petroleum Wax, Vegetable wax. |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Rajkamal Skincare |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Available |
|
|
|
|
Imports : |
|
|
Products : |
|
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit (30 Days) |
|
|
|
|
Purchasing : |
Cash and Credit (30 Days) |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
10 (Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
Jaimin Shah and Associates Chartered Accountants |
|
Address : |
304, Shashwat Tower, Near Dhananjay Tower, Opposite Syamal 3B,
Satellite, Ahmedabad – 380015, Gujarat, India
|
|
Tel. No.: |
91-79-2716230373 |
|
Mobile No.: |
91-9824035578 / 9825699985 |
|
E-Mail : |
|
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AVGPS4769K |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,000,000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,000,000 |
Equity Shares |
Rs.10/- each |
Rs.10.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
|
31.03.2013 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
10.000 |
|
(b) Reserves & Surplus |
|
|
3.569 |
|
(c) Money received against
share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
|
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
|
13.569 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
1.457 |
|
(b) Deferred tax liabilities
(Net) |
|
|
0.000 |
|
(c) Other long term
liabilities |
|
|
0.000 |
|
(d) long-term provisions |
|
|
0.000 |
|
Total
Non-current Liabilities (3) |
|
|
1.457 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
|
87.443 |
|
(b) Trade payables |
|
|
155.711 |
|
(c) Other current liabilities |
|
|
3.936 |
|
(d) Short-term provisions |
|
|
1.672 |
|
Total
Current Liabilities (4) |
|
|
248.762 |
|
|
|
|
|
|
TOTAL |
|
|
263.788 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
|
6.146 |
|
(ii) Intangible Assets |
|
|
0.000 |
|
(iii) Capital work-in-progress |
|
|
0.000 |
|
(iv) Intangible assets under
development |
|
|
0.000 |
|
(b) Non-current Investments |
|
|
3.146 |
|
(c) Deferred tax assets (net) |
|
|
0.114 |
|
(d) Long-term Loan and
Advances |
|
|
0.000 |
|
(e) Other Non-current assets |
|
|
0.000 |
|
Total
Non-Current Assets |
|
|
9.406 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
0.000 |
|
(b) Inventories |
|
|
64.517 |
|
(c) Trade receivables |
|
|
178.382 |
|
(d) Cash and cash equivalents |
|
|
3.206 |
|
(e) Short-term loans and
advances |
|
|
8.277 |
|
(f) Other current assets |
|
|
0.000 |
|
Total
Current Assets |
|
|
254.382 |
|
|
|
|
|
|
TOTAL |
|
|
263.788 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
643.139 |
|
|
Other Income |
|
|
0.205 |
|
|
TOTAL
(A) |
|
|
643.344 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of Stock-in-Trade |
|
|
607.338 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
|
(18.115) |
|
|
Employees benefits expense |
|
|
3.178 |
|
|
Other expenses |
|
|
37.290 |
|
|
TOTAL
(B) |
|
|
629.691 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
|
|
13.653 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
7.324 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
6.329 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
1.227 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
|
|
5.102 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
|
|
1.533 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
|
|
3.569 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
|
|
3.57 |
|
Particulars |
|
|
31.03.2014 (Rs.In Million) |
|
Sales Turnover (Approximately) |
|
|
1200.000 |
Expected Sales (2014-2015): Rs.1500.000 Million
The above information has been parted by Mr. Meet Mehta (Director)
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
|
|
0.55 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
|
|
0.79 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
1.96 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
0.38 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
|
|
6.55 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
1.02 |
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
two years |
Yes |
|
12] |
Profitability for last
one years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
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 |
No |
|
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 |
UNSECURED LOAN
|
PARTICULARS |
|
31.03.2013 (Rs.
in Million) |
|
Short Term
Borrowings |
|
|
|
Loan repayable
on demand |
|
|
|
From Bank |
|
40.815 |
|
Loans and advances from related parties |
|
46.628 |
|
TOTAL |
|
87.443 |
INDEX
OF CHARGES
|
S.No. |
Charge
ID |
Date
of Charge Creation/Modification |
Charge
amount secured |
Charge
Holder |
Address |
Service
Request Number (SRN) |
|
1 |
10525420 |
19/09/2014 |
7,700,000.00 |
Standard
Chartered Bank |
ABHIJEET-II,
GROUND FLOOR, MITHAKHALI SIX ROAD, N |
C29095296 |
|
2 |
10365616 |
06/08/2012
* |
177,500,000.00 |
Standard
Chartered Bank |
GROUND
FLOOR, ABHIJEET-II, MITHAKHALI SIX ROADS, |
B56985419 |
Registered office of the company has been shifted from 603, Span Trade Center, Opposite, Kochrab
Ashram, Paldi, Ahmedabad – 380006, Gujarat, India. To the present address w.e.f
01.07.2012
FIXED ASSETS
- Vehicles
- Computers
- Furniture
- Office Equipment
- Air Conditioner
- Refrigerator
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.61.94 |
|
|
1 |
Rs.96.24 |
|
Euro |
1 |
Rs.70.39 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
GTA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
26 |
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.