|
Report No. : |
351143 |
|
Report Date : |
26.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
RUCHI AGRITRADING PTE. LTD. |
|
|
|
|
Registered Office : |
22, North Canal Road, 01-00, 048834 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.03.2015 |
|
|
|
|
Date of Incorporation : |
30.12.2011 |
|
|
|
|
Com. Reg. No.: |
201136570-C |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Subject is engaged in agro commodity trading and investment holding. |
|
|
|
|
No. of Employee : |
15 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No complaints |
|
|
|
|
Litigation : |
Clear |
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) |
|
Singapore |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SINGAPORE - ECONOMIC
OVERVIEW
Singapore has a highly developed and successful free-market economy. It enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP higher than that of most developed countries. Unemployment is very low. The economy depends heavily on exports, particularly of consumer electronics, information technology products, medical and optical devices, pharmaceuticals, and on its vibrant transportation, business, and financial services sectors. The economy contracted 0.6% in 2009 as a result of the global financial crisis, but has continued to grow since 2010 on the strength of renewed exports. Growth in 2014 was slower at 2.9%, largely a result of soft demand for exports amid a sluggish global economy and weak growth in Singapore’s manufacturing sector. The government is attempting to restructure Singapore’s economy by weaning its dependence on foreign labor, addressing weak productivity, and increasing Singaporean wages. Singapore has attracted major investments in pharmaceuticals and medical technology production and will continue efforts to strengthen its position as Southeast Asia's leading financial and high-tech hub. Singapore is a member of the 12-nation Trans-Pacific Partnership free trade negotiations, the Regional Comprehensive Economic Partnership negotiations with the nine other ASEAN members plus Australia, China, India, Japan, South Korea and New Zealand, and in 2015, Singapore will form, with the other ASEAN members, the ASEAN Economic Community.
|
Source
: CIA |
EXECUTIVE
SUMMARY
|
|
REGISTRATION NO. |
: |
201136570-C |
||||
|
COMPANY NAME |
: |
RUCHI AGRITRADING PTE. LTD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
30/12/2011 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
22, NORTH CANAL ROAD, 01-00, 048834, SINGAPORE. |
||||
|
BUSINESS ADDRESS |
: |
22, NORTH CANAL ROAD, 01-00, 048834, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-63366166 |
||||
|
FAX.NO. |
: |
N/A |
||||
|
CONTACT PERSON |
: |
PANAGIOTIS PETROS CHRISTOS BAFITIS ( DIRECTOR ) |
||||
|
PRINCIPAL ACTIVITY |
: |
AGRO COMMODITY TRADING AND INVESTMENT HOLDING |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
2,000,100.00 ORDINARY SHARE, OF A VALUE OF USD
2,000,100.00 |
||||
|
SALES |
: |
USD 631,400,564 [2015] |
||||
|
NET WORTH |
: |
USD 6,899,632 [2015] |
||||
|
STAFF STRENGTH |
: |
15 [2015] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
LIMITED |
||||
|
PAYMENT |
: |
AVERAGE |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
LOW |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
||||
HISTORY
/ BACKGROUND
|
The Subject is a private limited company and is allowed to have a minimum
of one and a maximum of forty-nine shareholders. As a private limited company,
the Subject must have at least two directors. A private limited company is a
separate legal entity from its shareholders. As a separate legal entity, the
Subject is capable of owning assets, entering into contracts, sue or be sued by
other companies. The liabilities of the shareholders are to the extent of the
equity they have taken up and the creditors cannot claim on shareholders'
personal assets even if the Subject is insolvent. The Subject is governed by
the Companies Act and the company must file its annual returns, together with
its financial statements with the Registrar of Companies.
The Subject is principally engaged in the (as a / as an) agro
commodity trading and investment holding.
Share Capital History
|
\ |
Issue & Paid Up Capital |
|
23/11/2015 |
USD 2,000,100.00 |
The major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
RUCHI INDUSTRIES PTE. LTD. |
22, NORTH CANAL ROAD, 01-00 |
200923577N |
2,000,100.00 |
100.00 |
|
--------------- |
------ |
|||
|
2,000,100.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
PANAGIOTIS PETROS CHRISTOS BAFITIS |
|
Address |
: |
AVENIDA SETE DE SETEMBRO, 1682/2202, CAMPO GRANDE SALVADOR,
BAHIA, 40080.004, BRAZIL. |
|
IC / PP No |
: |
AI2809343 |
|
Nationality |
: |
GREEK |
|
Date of Appointment |
: |
07/05/2012 |
DIRECTOR 2
|
Name Of Subject |
: |
ANKESH SHAHRA |
|
Address |
: |
238, ORCHARD BOULEVARD, 24 - 08, ORCHARD RESIDENCES, 237973,
SINGAPORE. |
|
IC / PP No |
: |
G0753689K |
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
17/10/2012 |
DIRECTOR 3
|
Name Of Subject |
: |
RM MUTHAIAH |
|
Address |
: |
207, CHOA CHU KANG CENTRAL, 02 - 08, 680207, SINGAPORE. |
|
IC / PP No |
: |
S1835265F |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
20/05/2014 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
PANAGIOTIS PETROS CHRISTOS BAFITIS |
|
Position |
: |
DIRECTOR |
|
|
|
|
|
|
|
|
|
|
|
AUDITOR
|
|
Auditor |
: |
RAMA & CO |
|
Auditor' Address |
: |
N/A |
|
|
|
|
|
|
|
|
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
LEE LAI NAH |
|
IC / PP No |
: |
S1607980D |
|
|
Address |
: |
73, CAVENAGH ROAD, 02-376, CAVENAGH GARDENS, 229624, SINGAPORE. |
|
|
|
|
|
|
|
|
|
|
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
STANDARD CHARTERED BANK |
ENCUMBRANCE
(S)
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
C201309464 |
11/07/2013 |
N/A |
STANDARD CHARTERED BANK |
- |
Unsatisfied |
|
C201309469 |
11/07/2013 |
N/A |
STANDARD CHARTERED BANK |
- |
Unsatisfied |
LITIGATION
CHECK AGAINST SUBJECT
|
* A check has been conducted in our databank againt the Subject whether the
subject has been involved in any litigation.
No legal action was found in our databank.
No winding up petition was found in our databank.
PAYMENT
RECORD
|
|
||
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The staff from the registered office refused to disclose the Subject's
suppliers.
The Subject refused to provide any name of trade/service supplier and we are
unable to conduct any trade enquiry. However, from financial historical data we
conclude that :
|
OVERALL PAYMENT HABIT |
||||||||||||||
|
Prompt 0-30 Days |
[ |
] |
Good 31-60 Days |
[ |
] |
Average 61-90 Days |
[ |
X |
] |
|||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
] |
|||||||||
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
WORLDWIDE |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Goods Traded |
: |
AGRO COMMODITY |
|
|
Services |
: |
INVESTMENT HOLDING |
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2015 |
||||||||
|
|
|||||||||
|
GROUP |
N/A |
||||||||
|
COMPANY |
15 |
||||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) agro commodity trading
and investment holding.
The Subject's line of business includes buying and/or marketing grain, dry
beans, soybeans, and inedible beans.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated
that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-63366166 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
22 NORTH CANOL ROAD SINGAPORE 048834 |
|
Current Address |
: |
22, NORTH CANAL ROAD, 01-00, 048834, SINGAPORE. |
|
Match |
: |
NO |
Other Investigations
We contacted one of the staff from the Subject's registered office and she only
provided limited information.
She refused to disclose the fax number.
The address provided is incorrect.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
44.51% |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
21.32% |
] |
|
|
Return on Shareholder Funds |
: |
Favourable |
[ |
46.91% |
] |
|
|
Return on Net Assets |
: |
Favourable |
[ |
87.75% |
] |
|
|
The increase in turnover could be due to the Subject adopting an
aggressive marketing strategy.The Subject's management have been efficient in
controlling its operating costs. Generally the Subject was profitable. The
favourable return on shareholders' funds and return on net assets indicate
that the Subject's management was efficient in utilising the assets to
generate returns. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Favourable |
[ |
1 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
2 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
3 Days |
] |
|
|
The Subject's stocks were moving fast thus reducing its holding
cost. This had reduced funds being tied up in stocks. The favourable debtors'
days could be due to the good credit control measures implemented by the
Subject. The Subject had a favourable creditors' ratio where the Subject
could be taking advantage of the cash discounts and also wanting to maintain
goodwill with its creditors. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Favourable |
[ |
1.06 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.07 Times |
] |
|
|
A minimum liquid ratio of 1 should be maintained by the Subject in
order to assure its creditors of its ability to meet short term obligations
and the Subject was in a good liquidity position. Thus, we believe the
Subject is able to meet all its short term obligations as and when they fall
due. |
||||||
|
Solvency |
||||||
|
Interest Cover |
: |
Unfavourable |
[ |
2.50 Times |
] |
|
|
Gearing Ratio |
: |
Unfavourable |
[ |
10.88 Times |
] |
|
|
The Subject's interest cover was low. If its profits fall or
when interest rate rises, it may not be able to meet all its interest
payment. The Subject was highly geared, thus it had a high financial risk.
The Subject was dependent on loans to finance its business needs. In times of
economic downturn and / or high interest rate, the Subject will become less
profitable and competitive than other firms in the same industry, which are
lowly geared. This is because the Subject has to service the interest and to
repay the loan, which will erode part of its profits. The profits will
fluctuate depending on the Subject's turnover and the interest it needs to
pay. |
||||||
|
Overall Assessment : |
||||||
|
Generally, the Subject's performance has improved with higher turnover
and profit. The Subject was in good liquidity position with its total current
liabilities well covered by its total current assets. With its current net
assets, the Subject should be able to repay its short term obligations. If
there is a fall in the Subject's profit or any increase in interest rate, the
Subject may not be able to generate sufficient cash-flow to service its
interest. The Subject's gearing level was high and its going concern will be
in doubt if there is no injection of additional shareholders' funds in times
of economic downturn and / or high interest rates. |
||||||
|
Overall financial condition of the Subject : LIMITED |
||||||
|
|
||||||
SINGAPORE
ECONOMIC / INDUSTRY OUTLOOK
|
|
Major Economic Indicators : |
2010 |
2011 |
2012 |
2013 |
2014 |
|
|
|||||
|
Population (Million) |
5.08 |
5.18 |
5.31 |
5.40 |
5.47 |
|
Gross Domestic Products ( % ) |
14.5 |
4.9 |
1.3 |
3.7 |
(3.5) |
|
Consumer Price Index |
2.8 |
5.2 |
4.6 |
2.4 |
2.4 |
|
Total Imports (Million) |
423,221.8 |
459,655.1 |
474,554.0 |
466,762.0 |
463,779.1 |
|
Total Exports (Million) |
478,840.7 |
514,741.2 |
510,329.0 |
513,391.0 |
518,922.7 |
|
|
|||||
|
Unemployment Rate (%) |
2.2 |
2.1 |
2.0 |
1.9 |
1.9 |
|
Tourist Arrival (Million) |
11.64 |
13.17 |
14.49 |
15.46 |
15.01 |
|
Hotel Occupancy Rate (%) |
85.6 |
86.5 |
86.4 |
86.3 |
85.5 |
|
Cellular Phone Subscriber (Million) |
1.43 |
1.50 |
1.52 |
1.97 |
1.98 |
|
|
|||||
|
Registration of New Companies (No.) |
29,798 |
32,317 |
31,892 |
37,288 |
41,589 |
|
Registration of New Companies (%) |
12.8 |
8.5 |
(1.3) |
9.8 |
11.5 |
|
Liquidation of Companies (No.) |
15,126 |
19,005 |
17,218 |
17,369 |
18,767 |
|
Liquidation of Companies (%) |
(32.5) |
25.6 |
9.4 |
(5.3) |
8.0 |
|
|
|||||
|
Registration of New Businesses (No.) |
23,978 |
23,494 |
24,788 |
22,893 |
35,773 |
|
Registration of New Businesses (%) |
(10.78) |
2.02 |
5.51 |
1.70 |
56.30 |
|
Liquidation of Businesses (No.) |
24,211 |
23,005 |
22,489 |
22,598 |
22,098 |
|
Liquidation of Businesses (%) |
2.8 |
(5) |
(2.2) |
0.5 |
(2.2) |
|
|
|||||
|
Bankruptcy Orders (No.) |
1,537 |
1,527 |
1,748 |
1,992 |
1,757 |
|
Bankruptcy Orders (%) |
(25.3) |
(0.7) |
14.5 |
14.0 |
(11.8) |
|
Bankruptcy Discharges (No.) |
2,252 |
1,391 |
1,881 |
2,584 |
3,546 |
|
Bankruptcy Discharges (%) |
(26.3) |
(38.2) |
35.2 |
37.4 |
37.2 |
|
|
|||||
|
INDUSTRIES ( % of Growth ) : |
|||||
|
Agriculture |
|||||
|
Production of Principal Crops |
(0.48) |
4.25 |
3.64 |
- |
|
|
Fish Supply & Wholesale |
(10.5) |
12.10 |
(0.5) |
- |
2.80 |
|
|
|||||
|
Manufacturing * |
92.8 |
100.0 |
100.3 |
102.0 |
|
|
Food, Beverages & Tobacco |
96.4 |
100.0 |
103.5 |
103.5 |
105.0 |
|
Textiles |
122.1 |
100.0 |
104.0 |
87.1 |
74.9 |
|
Wearing Apparel |
123.3 |
100.0 |
92.1 |
77.8 |
49.5 |
|
Leather Products & Footwear |
81.8 |
100.0 |
98.6 |
109.8 |
95.9 |
|
Wood & Wood Products |
104.0 |
100.0 |
95.5 |
107.4 |
112.0 |
|
Paper & Paper Products |
106.1 |
100.0 |
97.4 |
103.2 |
103.4 |
|
Printing & Media |
103.5 |
100.0 |
93.0 |
86.1 |
80.3 |
|
Crude Oil Refineries |
95.6 |
100.0 |
99.4 |
93.5 |
85.6 |
|
Chemical & Chemical Products |
97.6 |
100.0 |
100.5 |
104.1 |
114.0 |
|
Pharmaceutical Products |
75.3 |
100.0 |
109.7 |
107.2 |
115.7 |
|
Rubber & Plastic Products |
112.3 |
100.0 |
96.5 |
92.9 |
92.8 |
|
Non-metallic Mineral |
92.5 |
100.0 |
98.2 |
97.6 |
82.2 |
|
Basic Metals |
102.2 |
100.0 |
90.6 |
76.5 |
98.3 |
|
Fabricated Metal Products |
103.6 |
100.0 |
104.3 |
105.1 |
105.1 |
|
Machinery & Equipment |
78.5 |
100.0 |
112.9 |
114.5 |
124.0 |
|
Electrical Machinery |
124.1 |
100.0 |
99.3 |
108.5 |
121.3 |
|
Electronic Components |
113.6 |
100.0 |
90.6 |
94.3 |
95.0 |
|
Transport Equipment |
94.0 |
100.0 |
106.3 |
107.5 |
103.2 |
|
|
|||||
|
Construction |
14.20 |
20.50 |
28.70 |
- |
22.00 |
|
Real Estate |
21.3 |
25.4 |
31.9 |
- |
145.1 |
|
|
|||||
|
Services |
|||||
|
Electricity, Gas & Water |
4.00 |
7.00 |
6.30 |
- |
|
|
Transport, Storage & Communication |
12.80 |
7.40 |
5.30 |
- |
14.20 |
|
Finance & Insurance |
(0.4) |
8.90 |
0.50 |
- |
6.00 |
|
Government Services |
9.70 |
6.90 |
6.00 |
- |
|
|
Education Services |
(0.9) |
(1.4) |
0.30 |
- |
5.98 |
|
|
|||||
|
* Based on Index of Industrial Production (2011 = 100) |
INDUSTRY
ANALYSIS
|
|
INDUSTRY : |
TRADING |
|
The wholesale and retail trade sectors have expanded by 2.0% in
the third quarter of 2014, extending the 1.8 per cent growth in the previous
quarter. In 2013, the wholesale and retail sector expanded by 5.0%, after declining
by 1.4% the year before. Growth of the sector was driven by the wholesale
trade segment. |
|
|
The domestic wholesale trade index has increased by 3.2% in the
fourth quarter of 2013, moderating from the 6.6% growth in the previous
quarter. The slower growth was due to a decline in the sales of furniture and
household equipment (-12%) and petroleum and petroleum products (-0.6%). For
the full year, the domestic wholesale trade index grew by 5.2% reversing the
2.2% decline in 2012. On the other hand, the foreign wholesale trade index
has increased by a slower pace of 5.6% in the fourth quarter, compared to the
7.7% expansion in the preceding quarter. The slowdown was due to a fall in
the sales of telecommunication equipment and computer (-3.8%) and petroleum
and petroleum products (-2.5%). For the full year, the growth of the foreign
wholesale trade index moderated slightly to 8.6% from 9.1% in the previous
year. |
|
|
In the fourth quarter of 2013, retail sales volume fell by 6.2%,
extending the 5.6% decline in the previous quarter. Excluding motor vehicles,
retail sales volume increased by 0.4%, a slower pace of expansion as compared
to the 1.6% gain in the preceding quarter. The sales volume of motor vehicles
fell by 33% in the fourth quarter of 2013, extending the 32% decline in the
previous quarter. Meanwhile, the sales of several discretionary items also
fell in the fourth quarter of 2013. For instance, the sales of
telecommunications apparatus and computers fell by 12%, while the sales of furniture
and household equipment declined by 5.4%. |
|
|
For the full year, retail sales volume contracted by 4.3%, a
reversal from the 1.3% expansion in 2012. Excluding motor vehicle sales, the retail
sales volume grew by 1.1% in 2013, slower than the 1.7% increase in 2012.
Watches and jewellery recorded the largest increase (11%) in sales in 2013,
followed by optical goods and book (3%) and medical goods and toiletries
(3%). By contrast, the sales of telecommunications apparatus and computer
(-7.3%), furniture and household equipment (-4.2%) and petrol service
stations (-1.4) declined in 2013. |
|
|
OVERALL INDUSTRY OUTLOOK : AVERAGE GROWTH |
|
CREDIT
RISK EVALUATION & RECOMMENDATION
|
|
|
|
|
PROFIT
AND LOSS ACCOUNT
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH
SINGAPORE FINANCIAL REPORTING STANDARDS. |
|
RUCHI AGRITRADING PTE. LTD. |
|
Financial Year End |
2015-03-31 |
2014-03-31 |
|
Months |
12 |
12 |
|
Consolidated Account |
Company |
Company |
|
Audited Account |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
|
Financial Type |
FULL |
FULL |
|
Currency |
USD |
USD |
|
TURNOVER |
631,400,564 |
436,939,564 |
|
---------------- |
---------------- |
|
|
Total Turnover |
631,400,564 |
436,939,564 |
|
Costs of Goods Sold |
(623,749,470) |
(430,676,106) |
|
---------------- |
---------------- |
|
|
Gross Profit |
7,651,094 |
6,263,458 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
3,762,788 |
3,101,521 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
3,762,788 |
3,101,521 |
|
Taxation |
(526,205) |
(320,000) |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
3,236,583 |
2,781,521 |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
||
|
As previously reported |
1,762,954 |
601,514 |
|
---------------- |
---------------- |
|
|
As restated |
1,762,954 |
601,514 |
|
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
4,999,537 |
3,383,035 |
|
DIVIDENDS - Ordinary (paid & proposed) |
(100,005) |
(1,620,081) |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
4,899,532 |
1,762,954 |
|
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
||
|
Hire purchase |
16,175 |
6,767 |
|
Trust receipts |
1,061,437 |
315,433 |
|
Others |
1,428,391 |
1,018,750 |
|
---------------- |
---------------- |
|
|
2,506,003 |
1,340,950 |
|
|
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
164,604 |
156,627 |
|
---------------- |
---------------- |
|
|
164,604 |
156,627 |
|
|
============= |
============= |
|
|
|
|
|
|
|
|
|
BALANCE
SHEET
|
|
RUCHI AGRITRADING PTE. LTD. |
|
ASSETS EMPLOYED: |
||
|
FIXED ASSETS |
763,410 |
863,075 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
763,410 |
863,075 |
|
Stocks |
910,000 |
- |
|
Trade debtors |
2,724,993 |
3,843,289 |
|
Other debtors, deposits & prepayments |
1,657,853 |
186,262 |
|
Amount due from holding company |
84,902,240 |
35,914,374 |
|
Cash & bank balances |
1,777,026 |
2,164,649 |
|
Others |
5,417,855 |
1,776,715 |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
97,389,967 |
43,885,289 |
|
---------------- |
---------------- |
|
|
TOTAL ASSET |
98,153,377 |
44,748,364 |
|
============= |
============= |
|
|
CURRENT LIABILITIES |
||
|
Trade creditors |
5,646,288 |
35,877,022 |
|
Other creditors & accruals |
380,384 |
130,820 |
|
Other borrowings |
74,849,158 |
2,287,500 |
|
Amounts owing to holding company |
77,255 |
- |
|
Amounts owing to related companies |
1,684,000 |
- |
|
Provision for taxation |
405,000 |
309,460 |
|
Lease payables |
41,216 |
44,380 |
|
Other liabilities |
7,926,288 |
2,083,778 |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
91,009,589 |
40,732,960 |
|
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
6,380,378 |
3,152,329 |
|
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
7,143,788 |
4,015,404 |
|
============= |
============= |
|
|
SHARE CAPITAL |
||
|
Ordinary share capital |
2,000,100 |
2,000,100 |
|
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
2,000,100 |
2,000,100 |
|
Retained profit/(loss) carried forward |
4,899,532 |
1,762,954 |
|
---------------- |
---------------- |
|
|
TOTAL RESERVES |
4,899,532 |
1,762,954 |
|
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
6,899,632 |
3,763,054 |
|
Lease obligations |
188,156 |
239,350 |
|
Deferred taxation |
56,000 |
13,000 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
244,156 |
252,350 |
|
---------------- |
---------------- |
|
|
7,143,788 |
4,015,404 |
|
|
============= |
============= |
|
|
|
|
|
FINANCIAL
RATIO
|
|
RUCHI AGRITRADING PTE. LTD. |
|
TYPES OF FUNDS |
||
|
Cash |
1,777,026 |
2,164,649 |
|
Net Liquid Funds |
1,777,026 |
2,164,649 |
|
Net Liquid Assets |
5,470,378 |
3,152,329 |
|
Net Current Assets/(Liabilities) |
6,380,378 |
3,152,329 |
|
Net Tangible Assets |
7,143,788 |
4,015,404 |
|
Net Monetary Assets |
5,226,222 |
2,899,979 |
|
PROFIT & LOSS ITEMS |
||
|
Earnings Before Interest & Tax (EBIT) |
6,268,791 |
4,442,471 |
|
Earnings Before Interest, Taxes, Depreciation And Amortization
(EBITDA) |
6,433,395 |
4,599,098 |
|
BALANCE SHEET ITEMS |
||
|
Total Borrowings |
75,037,314 |
2,526,850 |
|
Total Liabilities |
91,253,745 |
40,985,310 |
|
Total Assets |
98,153,377 |
44,748,364 |
|
Net Assets |
7,143,788 |
4,015,404 |
|
Net Assets Backing |
6,899,632 |
3,763,054 |
|
Shareholders' Funds |
6,899,632 |
3,763,054 |
|
Total Share Capital |
2,000,100 |
2,000,100 |
|
Total Reserves |
4,899,532 |
1,762,954 |
|
LIQUIDITY (Times) |
||
|
Cash Ratio |
0.02 |
0.05 |
|
Liquid Ratio |
1.06 |
1.08 |
|
Current Ratio |
1.07 |
1.08 |
|
WORKING CAPITAL CONTROL (Days) |
||
|
Stock Ratio |
1 |
0 |
|
Debtors Ratio |
2 |
3 |
|
Creditors Ratio |
3 |
30 |
|
SOLVENCY RATIOS (Times) |
||
|
Gearing Ratio |
10.88 |
0.67 |
|
Liabilities Ratio |
13.23 |
10.89 |
|
Times Interest Earned Ratio |
2.50 |
3.31 |
|
Assets Backing Ratio |
3.57 |
2.01 |
|
PERFORMANCE RATIO (%) |
||
|
Operating Profit Margin |
0.60 |
0.71 |
|
Net Profit Margin |
0.51 |
0.64 |
|
Return On Net Assets |
87.75 |
110.64 |
|
Return On Capital Employed |
87.75 |
110.64 |
|
Return On Shareholders' Funds/Equity |
46.91 |
73.92 |
|
Dividend Pay Out Ratio (Times) |
0.03 |
0.58 |
|
NOTES TO ACCOUNTS |
||
|
Contingent Liabilities |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.38 |
|
|
1 |
Rs.100.45 |
|
Euro |
1 |
Rs.70.55 |
INFORMATION DETAILS
|
Analysis Done by
: |
HEE |
|
|
|
|
Report Prepared
by : |
TRU |
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 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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.