MIRA INFORM REPORT
|
Report No. : |
339177 |
|
Report Date : |
02.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
ROLEX RINGS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
B/H Glowtech Private Limited, Gondal Road, Kotharia, Rajkot – 360004,
Gujarat |
|
Tel. No.: |
91-281-2360406/ 2363406 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
13.02.2003 |
|
|
|
|
Com. Reg. No.: |
04-041991 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 323.411
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28910GJ2003PTC041991 |
|
|
|
|
IEC No.: |
2489002759 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
RKTR00395D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCR3790B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Importer of Forged and Machined Rings
for Bearing races and Automotive Components. |
|
|
|
|
No. of Employees
: |
1900 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
Status : |
Sick Company |
|
|
|
|
Payment Behaviour : |
Slow and delayed |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
The subject company is declared as a sick unit by Board of Industrial
and Financial Reconstruction. The management has register case (Case No. 10/2014) with Board of
Industrial and Financial Reconstruction under section 3 (1) (0) of sick
industrial companies act 1985. The order on which for approval for rehabilitation proposal is
pending. Business is active. Payment terms are slow and delayed. The company can be considered for business dealing on a fully secured
trade terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
NOT AVAILABLE
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
31-03-2013.
INFORMATION PARTED BY
|
Name : |
Mr. Hiren Doshi |
|
Designation : |
Vice President Finance |
|
Contact No.: |
91-281-6699633 |
|
Date : |
02.09.2015 |
LOCATIONS
|
Registered Office/ Factory 1 : |
B/H Glowtech Private Limited, Gondal Road, Kotharia, Rajkot – 360004,
Gujarat, India |
|
Tel. No.: |
91-281-2360406/ 2363406/ 6699633 |
|
Fax No.: |
91-281-2362376 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 2 : |
Survey No 210P, 172, 174, 206, Near Vavdi Railway Crossing, Gondal Road, Kotharia, Vavdi, Rajkot – 360004, Gujarat, India |
|
Tel. No.: |
91-281-6699777/ 6699577 |
|
Fax No.: |
91-281-2362376 |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Manesh Dayashankar Madeka |
|
Designation : |
Managing director |
|
Address : |
“Daya”, Street No. 3, Parnakuti Society, Near Vidyut Nagar, Rajkot,
Gujarat, India |
|
Date of Birth/Age : |
14.05.1958 |
|
Qualification : |
B. Sc |
|
Experience : |
35 Years |
|
Date of Appointment : |
13.02.2003 |
|
PAN No.: |
AASPM8191Q |
|
DIN No.: |
01629788 |
|
|
|
|
Name : |
Mr. Bhoutik Dayashankar Madeka |
|
Designation : |
Director |
|
Address : |
Anand Bhuvan, Bhd. M.V.M. College, Setubandh Society, Rajkot, Gujarat,
India |
|
Date of Birth/Age : |
11.12.1965 |
|
Qualification : |
B. A. |
|
Experience : |
23 Years |
|
Date of Appointment : |
13.02.2003 |
|
PAN No.: |
ABIPM7370C |
|
DIN No.: |
01761543 |
|
|
|
|
Name : |
Mr. Bharat Jiten Madeka |
|
Designation : |
Director |
|
Address : |
“Vasant”, 4/5, Parnakuti Society, Near Vidyut Nagar, Rajkot, Gujarat,
India |
|
Date of Birth/Age : |
11.07.1984 |
|
Date of Appointment : |
12.09.2007 |
|
PAN No.: |
AJVPM8348R |
|
DIN No.: |
01761592 |
|
|
|
|
Name : |
Mr. Mihir Rupeshkumar Madeka |
|
Designation : |
Director |
|
Address : |
“Daya”, Street No. 3, Parnakuti Society, Near Vidyut Nagar, Rajkot,
Gujarat, India |
|
Date of Birth/Age : |
19.07.1977 |
|
Date of Appointment : |
13.02.2003 |
|
PAN No.: |
ACXPM6011E |
|
DIN No.: |
01778561 |
|
|
|
|
Name : |
Mr. Shantanu Yeshwant Nalavadi |
|
Designation : |
Director |
|
Address : |
RM 2903/ 4/ 5/ 6, FL 29, C 107, Ashok Towers, 63/74, Dr. S.S. Rao Road,
Parel, Mumbai – 400012, Maharashtra, India
|
|
Date of Birth/Age : |
27.04.1966 |
|
Date of Appointment : |
17.08.2012 |
|
DIN No.: |
02104220 |
|
|
|
|
Name : |
Mr. Vivek Anilchand Sett |
|
Designation : |
Director |
|
Address : |
1001, Marathon Heights, P.B. Marg, Worli, Mumbai, Maharashtra,
India |
|
Date of Birth/Age : |
09.01.1955 |
|
Date of Appointment : |
22.09.2007 |
|
DIN No.: |
00031084 |
|
|
|
|
Name : |
Mr. Hemal Paresh Madeka |
|
Designation : |
Director |
|
Address : |
301, Dhara Apartment, Near Parnakuti Society, Rajkot, Gujarat,
India |
|
Date of Birth/Age : |
25.01.1978 |
|
Date of Appointment : |
13.02.2003 |
|
PAN No.: |
AJVPM8349Q |
|
DIN No.: |
01629761 |
KEY EXECUTIVES
|
Name : |
Mr. Hiren Doshi |
|
Designation : |
Vice President Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Equity Shareholders |
|
No. of Shares |
|
Rupesh Dayashankar Madeka |
|
2090667 |
|
Jiten Dayashankar Madeka |
|
2090667 |
|
Manesh Dayashankar Madeka |
|
2090667 |
|
Ashok Dayashankar Madeka |
|
1306667 |
|
Pinakin Dayashankar Madeka |
|
2221333 |
|
Bhoutik Dayashankar Madeka |
|
1437333 |
|
Paresh Madeka |
|
261333 |
|
Mihir Rupeshkumar Madeka |
|
392000 |
|
Hemal Paresh Madeka |
|
392000 |
|
Sanjay Bhagwanji Bole |
|
392000 |
|
Bharat Jiten Madeka |
|
392000 |
|
NSR PE Mauritius LLC, Mauritius |
|
10914423 |
|
|
|
|
|
Total |
|
23981090 |
|
Names of Preference Shareholders |
|
No. of Shares |
|
Rupesh Dayashankar Madeka |
|
3050000 |
|
Jiten Dayashankar Madeka |
|
975000 |
|
Manesh Dayashankar Madeka |
|
730000 |
|
Ashok Dayashankar Madeka |
|
355000 |
|
Pinakin Dayashankar Madeka |
|
480000 |
|
Bhoutik Dayashankar Madeka |
|
1490000 |
|
Paresh Madeka |
|
70000 |
|
Mihir Rupeshkumar Madeka |
|
365000 |
|
Hemal Paresh Madeka |
|
75000 |
|
Sanjay Bhagwanji Bole |
|
475000 |
|
Bharat Jiten Madeka |
|
295000 |
|
|
|
|
|
Total |
|
8360000 |
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
45.51 |
|
Directors
or relatives of directors |
54.49 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Forged and Machined
Rings for Bearing races and Automotive Components. |
|
|
|
|
Brand Names : |
-- |
|
|
|
|
Agencies Held : |
-- |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
· US · European Countries |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
· US · Japan |
|
|
|
|
Terms : |
|
|
Selling : |
Cash, L/C and Credit |
|
|
|
|
Purchasing : |
Cash, L/C and Credit |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
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|
Customers : |
Wholesalers, Retailers and Manufacturer
|
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|
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|
No. of Employees : |
1900 (Approximately) |
||||||||||||||||||||||
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|
||||||||||||||||||||||
|
Bankers : |
· Bank of Baroda M. G. Road, Main Branch, BOB Building, Near. G.P.O., Rajkot - 360001, Gujarat, India · Oriental Bank of Commerce Mangala Bhavan, Nirmala Convent School Road, Rajkot - 360005, Gujarat, India · IDBI Bank Limited IDBI Tower, WTC Complex, Cuffe Parade, Mumbai - 400005, Maharashtra, India ·
Bank of India ·
Indian Overseas Bank |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Heritage, 3rd Floor, Near Gujarat Vidyapith, Off Ashram Road, Ahmedabad – 380014, Gujarat, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AADFD2337G |
|
|
|
|
Cost Auditors : |
|
|
Name : |
K Rajani and Company Cost Accountants, |
|
Address : |
Bhavnagar, Gujarat, India |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AFTER 30.09.2014
Authorised Capital : Rs. 410.000 Million
Issued, Subscribed & Paid-up Capital : Rs. 375.870
Million
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25,025,000 |
Equity Shares |
Rs. 10/- each |
Rs. 250.250 Million |
|
9,975,000 |
Preference Shares |
Rs. 10/- each |
Rs. 99.750 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 350.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
23,981,090 |
Equity Shares |
Rs. 10/- each |
Rs. 239.811
Million |
|
8,360,000 |
Preference Shares |
Rs. 10/- each |
Rs. 83.600
Million |
|
|
|
|
|
|
|
Total |
|
Rs. 323.411 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 |
323.411 |
239.811 |
239.810 |
|
(b) Reserves & Surplus |
(615.020) |
(590.910) |
(168.390) |
|
(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) |
(291.609) |
(351.099) |
71.420 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
3936.150 |
2847.940 |
1810.020 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
15.600 |
0.200 |
59.540 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
3951.750 |
2848.140 |
1869.560 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
1845.370 |
2365.990 |
2387.880 |
|
(b)
Trade payables |
833.940 |
1059.240 |
1018.270 |
|
(c)
Other current liabilities |
422.500 |
0.610 |
441.970 |
|
(d)
Short-term provisions |
13.450 |
11.170 |
7.470 |
|
Total
Current Liabilities (4) |
3115.260 |
3437.010 |
3855.590 |
|
|
|
|
|
|
TOTAL |
6775.401 |
5934.051 |
5796.570 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
3012.790 |
3194.220 |
2662.370 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
337.271 |
154.381 |
705.890 |
|
(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 |
33.510 |
13.970 |
61.830 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
3383.571 |
3362.571 |
3430.090 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1233.200 |
975.910 |
833.950 |
|
(c)
Trade receivables |
1218.560 |
908.130 |
767.130 |
|
(d)
Cash and cash equivalents |
529.070 |
391.210 |
481.010 |
|
(e)
Short-term loans and advances |
322.600 |
234.510 |
234.260 |
|
(f)
Other current assets |
88.400 |
61.720 |
50.130 |
|
Total
Current Assets |
3391.830 |
2571.480 |
2366.480 |
|
|
|
|
|
|
TOTAL |
6775.401 |
5934.051 |
5796.570 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations (Net of Excise duty) |
5178.910 |
4543.760 |
4610.220 |
|
|
|
Other Income |
34.200 |
29.780 |
45.880 |
|
|
|
TOTAL (A) |
5213.110 |
4573.540 |
4656.100 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
4354.580 |
4230.660 |
4192.650 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
858.530 |
342.880 |
463.450 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
667.420 |
562.800 |
615.960 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
191.110 |
(219.920) |
(152.510) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
215.220 |
202.600 |
189.210 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(24.110) |
(422.520) |
(341.720) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(24.110) |
(422.520) |
(341.720) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
30428.800 |
23569.520 |
21252.180 |
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(0.75) |
(17.62) |
(14.25) |
|
|
PARTICULARS |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
5500.000 |
|
|
|
|
|
Expected Sales (2015-2016): Rs. 6000.000 Million
The above information has been parted by Mr. Hiren Doshi (Vice President
Finance)
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
422.500 |
0.000 |
407.040 |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
(80.030) |
64.620 |
1196.940 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(0.47) |
(9.30) |
(7.41) |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
16.58 |
7.55 |
10.05 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.37) |
(7.31) |
(6.71) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08 |
1.20 |
(4.78) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
(21.28) |
(14.85) |
64.48 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.09 |
0.75 |
0.61 |
Total Liability = Short-term Debt + Long-term Debt + Current Maturities
of Long-term debts
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 |
239.810 |
239.811 |
323.411 |
|
Reserves & Surplus |
(168.390) |
(590.910) |
(615.020) |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
71.420 |
(351.099) |
(291.609) |
|
|
|
|
|
|
Long-term borrowings |
1810.020 |
2847.940 |
3936.150 |
|
Short term borrowings |
2387.880 |
2365.990 |
1845.370 |
|
CURRENT MATURITIES OF LONG-TERM DEBTS |
407.040 |
0.000 |
422.500 |
|
Total
borrowings |
4604.940 |
5213.930 |
6204.020 |
|
Debt/Equity ratio |
64.477 |
-14.850 |
-21.275 |
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 |
4610.220 |
4543.760 |
5178.910 |
|
|
|
-1.442 |
13.979 |
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 |
4610.220 |
4543.760 |
5178.910 |
|
Profit/ (Loss) |
(341.720) |
(422.520) |
(24.110) |
|
|
(7.41%) |
(9.30%) |
(0.47%) |
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 |
Yes |
|
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
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 |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10456985 |
14/10/2013 |
329,600,000.00 |
IDBI BANK LIMITED |
IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI,
MAHARASHTRA - 400005, INDIA |
B88271473 |
|
2 |
10348822 |
19/03/2012 |
50,000,000.00 |
BANK OF BARODA |
M. G. ROAD, MAIN BRANCH, BOB BUILDING,
NEAR. G.P.O., RAJKOT, GUJARAT - 360001, INDIA |
B37316775 |
|
3 |
10286053 |
24/03/2011 |
50,000,000.00 |
UNION BANK OF INDIA |
RACE COURSE CIRCLE BRANCH, RACE COURSE RING
ROAD, |
B12597977 |
|
4 |
10260060 |
22/11/2010 |
90,000,000.00 |
INDIAN OVERSEAS BANK |
PAREKH CHAMBERS, DHEBAR ROAD, RAJKOT,
GUJARAT - |
B03324308 |
|
5 |
10141628 |
26/12/2014 * |
6,988,300,000.00 |
CORPORATION BANK |
RAJKOT MAIN BRANCH, NIJANAND, DHEBAR ROAD,
RAJKOT, GUJARAT - 360002, INDIA |
C39453493 |
|
6 |
10143781 |
26/12/2014 * |
6,988,300,000.00 |
CORPORATION BANK |
RAJKOT MAIN BRANCH, NIJANAND, DHEBAR ROAD,
RAJKOT, GUJARAT - 360002, INDIA |
C39454186 |
|
7 |
10124118 |
23/09/2008 |
550,000,000.00 |
BANK OF BARODA |
M. G. ROAD, MAIN BRANCH, BOB BUILDING,
NEAR. G.P.O., RAJKOT, GUJARAT - 360001, INDIA |
A47261722 |
|
8 |
10118913 |
18/09/2009 * |
1,054,200,000.00 |
UNION BANK OF INDIA |
RACE COURSE CIRCE BRANCH, RACE COURSE ROAD,
RAJKOT, GUJARAT - 360001, INDIA |
A72825334 |
|
9 |
10104214 |
20/10/2009 * |
1,219,073,000.00 |
CORPORATION BANK |
MAIN BRANCH, "NIJANAND", DHEBAR
ROAD, RAJKOT, GUJARAT - 360001, INDIA |
A74394990 |
|
10 |
10103480 |
21/04/2008 |
230,000,000.00 |
ORIENTAL BANK OF COMMERCE |
'MANGAL BHAVAN',, NIRMALA CONVENT SCHOOL
ROAD BRACH, RAJKOT, GUJARAT - 360001, INDIA |
A38811287 |
|
11 |
10088595 |
18/01/2008 |
480,000,000.00 |
BANK OF INDIA |
MAIN BRANCH, PARA BAZAR, RAJKOT, GUJARAT -
360001, INDIA |
A32895781 |
|
12 |
10046545 |
19/10/2007 * |
2,647,600,000.00 |
CORPORATION BANK |
MAIN BRANCH, "NIJANAND", DHEBAR
ROAD, RAJKOT, GUJARAT - 360001, INDIA |
A31840325 |
|
13 |
90105430 |
07/10/2004 |
43,800,000.00 |
CORPORATION BANK |
MAIN BRANCH, NIJANAND; DHEBAR ROAD, RJAKOT,
GUJARAT - 360001, INDIA |
- |
|
14 |
90105975 |
03/11/2004 * |
109,800,000.00 |
ORIENTAL BANK OF COMMERCE |
NIRMALA CONVENT ROAD, RAJKOT, GUJARAT,
INDIA |
- |
|
15 |
90105403 |
31/07/2004 |
193,000,000.00 |
CORPORATION BANK |
MAIN BRANCH, NIJANANG ROAD, DHEBAR, GUJARAT
- 360001, INDIA |
- |
|
16 |
90106879 |
23/11/2004 * |
103,500,000.00 |
ORIENTAL BANK OF COMMERCE |
MAIN BRANCH; NIRMALA CONVENT ROAD, RAJKOT,
GUJARAT, INDIA |
- |
|
17 |
90105323 |
16/01/2004 |
114,200,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, AHMEDABAD, GUJARAT,
INDIA |
- |
|
18 |
90105255 |
20/01/2007 * |
1,044,000,000.00 |
CORPORATION BANK |
MAIN BRANCH,, NIJANAND, DHEBAR ROAD,
RAJKOT, GUJARAT - 360001, INDIA |
- |
|
19 |
90105224 |
09/09/2008 * |
1,075,000,000.00 |
ORIENTAL BANK OF COMMERCE |
'MANGAL BHAVAN',, NIRMALA CONVENT SCHOOL ROAD
BRACH, RAJKOT, GUJARAT - 360001, INDIA |
A46974879 |
|
20 |
90106721 |
14/09/2005 * |
292,349,000.00 |
ORIENTAL BANK OF COMMERCE |
NIRMALA CONVENT SCHOOL ROAD BRANCH, RAJKOT,
GUJARAT, INDIA |
- |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
0.000 |
97.300 |
|
Other loans and advances |
0.000 |
257.290 |
|
SHORT TERM BORROWINGS |
|
|
|
Loans repayable on demand |
1845.370 |
2365.990 |
|
|
|
|
|
Total |
1845.370 |
2720.580 |
CORPORATE INFORMATION
Rolex Rings Private Limited is a company engaged in manufacturing of forged and machined bearing races and automotive components. The company is situated in the state of Gujarat at District: Rajkot. The company has set up two manufacturing units at Rajkot.
FINANCIALS:
Total revenue from operations amounted to Rs. 5178.910 million during the year under Report as compared to Rs. 4543.760 million of fiscal 2012-13. The Company reported Net Loss of Rs. 24.110 million (includes non - cash expenses of depreciation of Rs. 215.220 million) in fiscal 2013-14, as compared to Net Loss of Rs. 422.520 million (includes non - cash expenses of depreciation of Rs. 202.600 million) for previous year 2012-13. Due to sustained efforts from the Management, the Company has been able to witness increase in total turnover and also in decrease in net loss increase in margins. The management will leave no efforts for reduction of overall costs structure and take necessary steps to augment total turnover of the Company in the coming years. Further, the Company’s efforts to explore new markets will also be continued in future.
WINDMILL DIVISION:
The Company has total 7 windmills located at Lamba, Boghat, Vanku (all in State of Gujarat). Total revenues from the windmill segment has been at Rs. 59.260 Million as compared to Rs. Rs. 73.600 Million of previous year.
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and equipment
·
Furniture and fixtures
·
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 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. 66.26 |
|
|
1 |
Rs. 101.99 |
|
Euro |
1 |
Rs. 74.79 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
BVA |
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.